Zillow Group price target raised to $62 from $50 at RBC Capital

RBC Capital analyst Brad Erickson raised the firm’s price target on Zillow Group to $62 from $50 and keeps an Outperform rating on the shares. The real estate market is “stuck” due to high rates and low inventory, but the company’s Premier Agent feedback was marginally positive, the analyst tells investors in a research note. RBC adds that while the long-term debate on durability of Zillow’s share gains will persist for some time, but its near-term findings position Zillow for price increases.