Real Brokerage acquisition of Re/Max ‘strategic plus,’ says BTIG

BTIG analyst Jake Fuller views Real Brokerage’s (REAX) acquisition of Re/Max Holdings (RMAX) as a “strategic plus” at an “appealing valuation.” Real Brokerage is gaining scale and relevance in a consolidating industry at the bottom of the cycle, the analyst tells investors in a research note. BTIG believes the deal will diversify the company’s revenue and add a high-margin franchise business. It keeps a By rating on Real Brokerage with a $4.25 price target. The stock in late morning trading is down 27% to $1.95.