Market Overview

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

Share:
Related RLGY
15 Biggest Mid-Day Gainers For Friday
Earnings Scheduled For February 24, 2017

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
Jan 2017Deutsche BankInitiates Coverage OnHold
Jan 2017Deutsche BankInitiates Coverage OnHold
Jan 2017BarclaysInitiates Coverage OnUnderweight

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)

View Comments and Join the Discussion!