Zillow Group price target lowered to $50 from $55 at Bernstein

Bernstein lowered the firm’s price target on Zillow Group to $50 from $55 and keeps a Market Perform rating on the shares. The housing market remains under pressure with existing home sales dropping below the 4M floor in September, the analyst tells investors in a research note. The firm said this has hit housing stocks hard, though with the bad news getting priced in, it actually leans tactically positive into Zillow earnings next week.