Redfin price target raised to $15 from $13 at B. Riley

B. Riley raised the firm’s price target on Redfin to $15 from $13 and keeps a Buy rating on the shares. The firm is incrementally more positive on Redfin following investor meetings with management last week, and B. Riley believes Redfin is well-positioned to benefit from a gradual recovery in housing and see a number of positives for the company over the near- and medium-term, including share gains driven by competitive buy-side and listing fees and top-of-funnel traffic to site and transaction volume growth supported by increase in agent concentration and productivity under Next, the analyst tells investors in a research note.