Redfin price target raised to $8 from $7 at JPMorgan

JPMorgan raised the firm’s price target on Redfin to $8 from $7 and keeps a Neutral rating on the shares. The company’s Q1 results and Q2 revenue guidance exceeded expectations, but the Q2 adjusted EBITDA guide was soft, the analyst tells investors in a research note. The firm Redfin posted a solid print, especially against a more challenging housing environment.