Compass reinstated with a Neutral at Goldman Sachs

Goldman Sachs reinstated coverage of Compass (COMP) with a Neutral rating and $14 price target which implies 5% upside, following the Anywhere Real Estate acquisition. The firm sees limited visibility for Compass, saying the housing recovery facing ongoing affordability challenges. The company has growing exposure to non-premium segments of the housing market through its merger with Anywhere, which could make it more challenging for the new Compass to achieve its historical pace of market share gains, the analyst tells investors in a research note.