Zillow Group price target raised to $50 from $42 at RBC Capital

RBC Capital analyst Brad Erickson raised the firm’s price target on Zillow Group to $50 from $42 and keeps an Outperform rating on the shares after its Q4 results. The market appears more stable and likely to accelerate and the company’s results and guidance imply share gains, while the management is seeing positive proof points on new products, the analyst tells investors in a research note. The firm adds however that share gains may be transitory and Street EBITDA estimates will finally see cuts the buy-side had been waiting for.