Why Shares of Redfin, Zillow, and Anywhere Real Estate Are Surging This Week
Shares of several real estate stocks popped this week thanks to bullish sentiment from Wall Street and softer mortgage rates.
For the week, shares of residential real estate brokerage Redfin (NASDAQ: RDFN) jumped more than 24% as of 11:16 a.m. ET Thursday, according to data from S&P Global Market Intelligence. Shares of the real estate marketplace Zillow Group (NASDAQ: ZG) traded more than 19% higher, while shares of Anywhere Real Estate (NYSE: HOUS) were up about 15%.
Zillow kicked off the week with a double upgrade from Bank of America analyst Curtis Nagle, who upgraded the company from an underperform rating to a buy rating, while also raising his price target from $22 per share to $42.
Source Fool.com