Zelman upgrades Redfin to Outperform after 29% two-week selloff

As previously reported, Zelman analyst Ryan McKeveny upgraded Redfin (RDFN) to Outperform from Neutral with a price target of $9.25, down from $10.25. The stock in morning trading is up 1%, or 7c, to $6.42. The company’s restructuring and reorganization have laid the foundation for a positive shift in its fundamental trajectory and investor sentiment, the analyst tells investors in a research note. Zelman views the recent pullback in the shares, which are down 29% over the last two weeks, as an opportunity. It sees a high likelihood of accelerating market share growth and stronger profitability for Redfin in the second half of 2025.