Goldman makes a couple of housing calls


Goldman likes the brokerage business, upping Realogy (RLGY) to Buy saying worries about royalty rates and commission splits, broad housing concerns, and large stock sales are already priced into the stock. "We expect these issues to diminish over the coming quarters."

How to buy Realogy? Take the cash from a sale of Toll Bros. (TOL), says Goldman, removing its Buy rating on the homebuilder. Despite the downgrade, Goldman still likes Toll's position at the high end of the market and sees room for material margin expansion as the company works through its land-development progress.

TOL -2.4%, RLGY +0.4% premarket.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs