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

JPMorgan raised the firm’s price target on Redfin (RDFN) to $8 from $7 and keeps a Neutral rating on the shares. The firm updated the company’s model post the Q3 report. Achieving adjusted EBITDA breakeven remains challenging for Redfin, but the Q3 miss was in part due to the housing market remaining depressed for longer than anticipated, the analyst tells investors in a research note. The analyst believes adjusted EBITDA profit could be possible in 2025.