Citi analyst Ronald Josey raised the firm’s price target on Zillow Group to $65 from $60 and keeps a Buy rating on the shares. Although Zillow delivered better than expected Q2 revenue and EBITDA results, its Q3 guidance came in below expectations as the broader housing market continues to pressure overall results, the analyst tells investors in a research note. However, Citi says the strong Q2 results suggest Zillow’s product strategy and traction with enhanced markets are delivering greater share gains.
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