UPDATE: Oppenheimer Downgrades Redfin Corp. (RDFN) to Underperform

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Go back to UPDATE: Oppenheimer Downgrades Redfin Corp. (RDFN) to Underperform

Redfin's (RDFN) Business is 'Fundamentally Flawed' - Oppenheimer

November 7, 2022 3:13 PM EST

Oppenheimer downgraded Redfin (NASDAQ: RDFN) to Underperform with a $1.30 Target in a note to clients on Monday, stating the company is "poorly positioned" for a declining housing market.

"We believe Redfin's core business is fundamentally flawed with fixed-cost model for agents vs. 100% commission for industry," said Oppenheimer... More