Barclays lifts Compass to 'overweight'; shares rise

Shares of U.S. residential real estate brokerage firm Compass COMP.N up about 3% at nearly $11 premarket

Barclays upgrades rating to "overweight" from "equal-weight", raises PT to $13 from $9

Brokerage says co's upgrade reflects synergies from its HOUS deal, stronger agent value, and potential upside from existing home sales

Lower rates alone may not boost housing, as uncertainties around Fed cuts, mortgage impact, affordability, and jobs leave little confidence in a construction rebound, says Barclays

Four of 8 brokerages rate the stock "buy" or higher, four "hold" ; their median PT is $10 - data compiled by LSEG

As of last close, stock had risen 76.4% YTD