Market Overview

UPDATE: JP Morgan Initiates Realogy Holdings at Overweight; Levered to Housing Recovery

Related RLGY
Realbiz Media Ties Up with Realogy Firms, Expects Revenues to Reach $1 M
Top 4 Mid-Cap Stocks In The Property Management Industry With The Highest ROE

JP Morgan initiated coverage on Realogy Holdings (NYSE: RLGY) with an Overweight rating and a $42 price target.

JP Morgan noted, "We calculate that RLGY's EBITDA should increase by about $10 million for every percentage point growth in either existing home sales or average home prices. Furthermore, given the company's NOLs and above-average financial leverage, incremental EBITDA should drop to bottom-line cash flow. We think this set of dynamics makes RLGY among the most direct equity trades on the broad U.S. housing market."

Realogy Holdings closed at $37.06 on Monday.

Latest Ratings for RLGY

DateFirmActionFromTo
Jul 2014CitigroupUpgradesNeutralBuy
May 2014CitigroupMaintainsHold
May 2014CRT CapitalMaintainsBuy

View More Analyst Ratings for RLGY
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (RLGY)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters