J.P. Morgan cuts PT on real estate broker RE/MAX on weakening housing market

Re/Max Holdings

21/03/2023 14:32

** Brokerage J.P. Morgan cuts real estate broker RE/MAX
Holdings Inc's  RMAX.N  PT to $19 from $23 on weakening housing
market
    ** Says as interest rates move higher and the economy slows,
they create near-term headwinds for RMAX and its peers 
    ** However, RMAX's profits should be insulated somewhat
compared to peers due to its franchise business model that runs
with high margins and lower volatility
    ** Only one of six brokerages rate the stock "buy", rest 
"hold"; their median PT is $22.50
    ** Up to Monday's close, RMAX stock had fallen ~7% compared
with a ~3% decline in the NYSE Composite index  .NYA  

 (Reporting by Pratyush Thakur)
 ((pratyush.thakur@thomsonreuters.com))