Market Overview

UPDATE: Re/Max Up 4% Following Upgrade by Morgan Stanley

Related RMAX
UPDATE: Morgan Stanley Reiterates On Re/Max As Strong Agent Growth Continues
Earnings Scheduled For May 14, 2014

In a report released Monday by Morgan Stanley, analyst Vikram Malhorta upgraded Re/Max (NYSE: RMAX) from Equal-Weight to Overweight, keeping price target at $36.

The report highlighted an increase in US agent growth for the upcoming year as a reason for the change. In a survey conducted by Morgan Stanley, Re/Max is considered a top choice for unaffiliated agents looking to switch firms. Malhorta also noted, "We are more confident in the RMAX value proposition as agents pick brand, operational independence and the potential to do more transactions as key reasons for switching."

RMAX previously closed at $29.93 and opened at $31.04 Monday morning.

Posted-In: Morgan Stanley Vikram MalhortaUpgrades Price Target Analyst Ratings

 

Most Popular

Related Articles (RMAX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free