Compass price target raised to $12 from $10 at Needham

Needham analyst Bernie McTernan raised the firm’s price target on Compass (COMP) to $12 from $10 and keeps a Buy rating on the shares. The firm is updating its model, incorporating the recently closed Christie’s acquisition and better Q4 results, also noting that despite the increase to its estimates, Needham continues to see potential upside to estimates which contemplate Q1 as the peak organic growth quarter for FY25E and potential benefits from the company’s three-phase marketing strategy, which appears off to a fast start with 55% of new listings in February choosing to use this strategy, the analyst tells investors in a research note.