BUZZ-Barclays lifts Compass to 'overweight'; shares rise

Reuters12-08
BUZZ-Barclays lifts Compass to 'overweight'; shares rise

** Shares of U.S. residential real estate brokerage firm Compass COMP.N up about 3% at nearly $11 premarket

** Barclays upgrades rating to "overweight" from "equal-weight", raises PT to $13 from $9

** Brokerage says co's upgrade reflects synergies from its HOUS deal, stronger agent value, and potential upside from existing home sales

** Lower rates alone may not boost housing, as uncertainties around Fed cuts, mortgage impact, affordability, and jobs leave little confidence in a construction rebound, says Barclays

** Four of 8 brokerages rate the stock "buy" or higher, four "hold" ; their median PT is $10 - data compiled by LSEG

** As of last close, stock had risen 76.4% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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