Market Overview

UPDATE: Citigroup Initiates Realogy Holdings at Neutral on Housing Recovery Timing Uncertainties

Share:
Related RLGY
Stephens Drops 18 Names From Best Ideas List Before The New Year
Earnings Scheduled For November 3, 2017
Danger Zone Highlights And Lowlights From 2017 (Seeking Alpha)

Citigroup initiated coverage on Realogy Holdings (NYSE: RLGY) with a Neutral rating and a $39 price target.

Citigroup noted, "We believe the housing recovery will proceed onwards, but not without bumps along the way. Current uncertain mortgage banking industry reforms (e.g. QM/QRM/Basel III), including the way the Administration addresses the GSEs, and potential US economic pitfalls drive us to assess upside/downside valuation for the shares. Specifically, we estimate that if existing home sales/prices recover to mid-cycle in 2014, or a year earlier than we anticipate, we could see the stock approaching $47, and if it takes a year longer to recover (i.e. 2016 = mid-cycle), we could see fair value closer to $31"

Realogy Holdings closed at $36.70 on Tuesday.

Latest Ratings for RLGY

DateFirmActionFromTo
Dec 2017JP MorganDowngradesNeutralUnderweight
Oct 2017Keefe Bruyette & WoodsDowngradesOutperformMarket Perform
Aug 2017BarclaysMaintainsUnderweight

View More Analyst Ratings for RLGY
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (RLGY)

View Comments and Join the Discussion!