Wells Fargo Starts Realogy (RLGY) at Outperform, Sees Upside from Deleveraging

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 8/17/2026

1. SPY
2. EYPT
3. NVDA
4. GNK
5. USO
6. ARGX
7. AZN
8. SPCX
9. UNG
10. FNGR

November 20, 2012 8:12 AM EST
Get Alerts RLGY Hot Sheet
Price: $12.08 --0%

Rating Summary:
    13 Buy, 5 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 22 | New: 20
Join SI Premium – FREE
Wells Fargo initiates coverage on Realogy (NYSE: RLGY) with a Outperform and $42-$44 valuation range.

The firm comments, "As the largest residential real estate brokerage (both owned and franchised), RLGY offers a direct way to invest in an improving existing housing market. Further, with high expected free cash flow and debt reduction a priority, we see upside to the equity from deleveraging. Our $42-$44 valuation range is based on a 12.5x-13.0x enterprise value multiple on our 2013 adjusted EBITDA estimate of $805MM. Our 2012 EBITDA estimate is $640MM."

For an analyst ratings summary and ratings history on Realogy click here. For more ratings news on Realogy click here.

Shares of Realogy closed at $37.06 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

New Coverage

Related Entities

Wells Fargo