RE/MAX Holdings: The Bull Case Still Has Legs
Summary
- RE/MAX Holdings beats Q2 earnings expectations, confirming my bullish thesis.
- Housing market challenges persist, with high mortgage rates and affordability issues.
- Potential agent exodus may lead to a more efficient business model for RE/MAX.
- Shares are still a buy with price target of $14.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of RMAX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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