Deutsche Bank analyst Benjamin Black initiated coverage of Zillow Group with a Buy rating and $50 price target. The analyst sees Zillow as the market leading platform for beginning a home buying journey with over twice the website traffic of Realtor.com and over twice the daily app users of Redfin. The company’s broad reach combined with efforts to improve conversions indicate Zillow can grow its current share of customer transactions from 3% in 2021 to close to 6% by 2025, the analyst tells investors in a research note. The firm says Zillow is executing on its growth initiatives across its premier agent, seller solutions, and mortgage businesses.
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