RBC raises Redfin PT after acquisition by Rocket

Rocket Companies

15/04/2025 12:17

** 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

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))