RBC Capital raised the firm’s price target on Redfin (RDFN) to $12.50 from $8 and keeps a Sector Perform rating on the shares. The firm is adjusting its model after the company’s acquisition by Rocket Companies (RKT) announced last month. Rocket’s stated approach could potentially unlock value and looks to be a very good outcome for Redfin shareholders, RBC states, adding it wouldn’t expect competing bids.
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