- Current estimates for existing home sales assume only limited impact from increases in interest rates, says Compass Point's Fred Small, reiterating his Neutral rating on Realogy (NYSE:RLGY), but cutting the price target to $38 from $44 (last night's close was $41.70).
- Investors will get a better entry point into the stock as home sales expectations come down, he says.
- There's also the regulatory environment, and it's turned against brokers and title services in the last six months, says Small.
- His cuts his FY16 EPS estimate to $1.78 from $1.82 and FY17 to $2.10 from $2.14.
Price target cut for Realogy Holdings
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Symbol | Last Price | % Chg |
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