Craig-Hallum raised the firm’s price target on Zillow Group to $65 from $48 and keeps a Buy rating on the shares following quarterly results. Zillow continues to execute well in the face of a choppy macro, the firm says. While housing trends continue to ebb and flow around interest rate changes, the company is sharply outperforming the broader housing industry, with key growth drivers like mortgage and rentals driving strengthening tailwinds to fundamentals, Craig-Hallum adds.
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