RBC Capital analyst Brad Erickson raised the firm’s price target on Zillow Group to $66 from $60 and keeps an Outperform rating on the shares after the firm hosted a fireside chat with its Investor Relations team. RBC came away more positive on Zillow’s rollout of enhanced markets likely being a durable, multi-year product cycle with several shots on goal to the upside, the analyst tells investors in a research note, adding that the management’s macro commentary was “stable/mixed”, the regulatory commentary was constructive, and the newer Residential product commentary was largely positive. RBC has “more confidence” in next year’s growth building off the enhanced market rollout, the firm stated.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ZG:
- Zillow Group price target raised to $55 from $42 at Susquehanna
- Zillow price target raised to $60 from $55 at Deutsche Bank
- Zillow Group price target raised to $48 from $45 at Canaccord
- Unusually active option classes on open August 8th
- Zillow Group price target raised to $55 from $51 at Craig-Hallum