Offerpad Solutions initiated with a Buy at Alliance Global

Alliance Global analyst Gaurav Mehta initiated coverage of Offerpad Solutions (OPAD) with a Buy rating and $3.50 price target the firm says Offerpad is a real estate technology company with a focus on residential real estate. It likes the company’s focus on diversifying the business model and expanding the “higher margin” asset-light services. Offerpad has an opportunity for improvement in its residential single family real estate and cash offers business through lower interest rates, adds Alliance Global.