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Compass assumed with a Buy at BTIG

BTIG analyst Jake Fuller assumed coverage of Compass (COMP) with a Buy rating and $9 price target Compass has evolved from a “growth-at-all-costs start-up” to a “leading” residential real estate broker with ramping EBITDA profits and GAAP net income “on the radar,” the analyst tells investors. The firm, which sees Compass as a share gainer with healthy growth prospects in a weak housing market, adds that “the heart of our rating” is a view that the current valuation appears to embed a conservative EHS recovery timeline.

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