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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