DA Davidson analyst Tom White raised the firm’s price target on Zillow Group to $54 from $41 and keeps a Buy rating on the shares. The company’s Q4 results marked a "strong and clean beat" with core Premier Agent business managing to outperform the broader U.S. real estate market declines, the analyst tells investors in a research note. The firm added however that Zillow’s Q1 EBITDA outlook reflects higher opex related to the Q4 acquisition of VRX Media and the ongoing investments to support its new ShowingTime+ offering and upcoming sell-side products.
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