Zillow Group price target lowered to $47 from $48 at BofA

BofA analyst Curtis Nagle lowered the firm’s price target on Zillow Group to $47 from $48 and keeps a Buy rating on the shares after Q3 revenue and EBITD came in above the Street view. The firm is encouraged to see another quarter of above market performance and notes that while the real estate market is likely to remain volatile over the next several quarters, it expects a return to home volume growth in the second half of 2024 and views Zillow as “relatively better positioned” than peers.