Zillow Group price target raised to $70 from $65 at Evercore ISI

Evercore ISI raised the firm’s price target on Zillow Group to $70 from $65 and keeps an Outperform rating on the shares and maintains its “Tactical Outperform” call on shares in the wake of what it calls “Beat & Mixed Q4 EPS results.” While the firm’s estimates are “largely unchanged,” it is bumping up its price target based on 25 times EV/EBITDA on the firm’s FY25 estimate of $660M, which the analyst views as “conservative, especially if the housing recovery really kicks in over the next year.”