Redfin Corp. (RDFN) PT Lowered to $44 at Stifel Ahead of Earnings

Stifel analyst John Egbert lowered the price target on Redfin Corp. (NASDAQ: RDFN) to $33.00 (from $60.00) ahead of reporting earnings in February.

The analyst reiterated a Hold rating, stating "we see relatively balanced risk / reward profiles given recent market conditions. However, we note the U.S. housing market remains healthy and provides a favorable operating environment for our coverage in 2022 if current trends can persist, and valuations have witnessed a large reset despite nearly two years of a booming housing market". He went on to state "we taper our estimates to better reflect the material valuation reset across the broader Internet sector".

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