RBC raises Redfin PT after acquisition by Rocket

ReutersApr 15, 2025 11:17 AM

RBC Capital Markets hikes PT on real estate listing platform Redfin RDFN.O to $12.50 from $8; maintains "sector perform" rating

Brokerage says it views the acquisition by Rocket Companies RKT.N as a win for RDFN and would not expect competing bids

New PT implies 41% upside to RDFN's last close

Last month, RKT acquired RDFN in an all-stock deal valued at $1.75 bln

One of 14 brokerages rate RDFN "strong buy" and 13 "hold"; their median PT is $11 - data compiled by LSEG

As of last close, stock up 12.45% YTD

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