Zillow price target lowered to $50 from $60 at UBS

UBS lowered the firm’s price target on Zillow to $50 from $60 and keeps a Buy rating on the shares. Zillow’s Q3 results were better than expected, but guidance for Q4 was lower given the tough macro and headline risk from ongoing industry lawsuits, the analyst tells investors in a research note. The results of the recent Sitzer/Burnett lawsuit pose a significant near-term risk for Zillow, but the end of buyer agency could migrate Zillow towards looking more like the classifieds player winner-take-most marketplaces that exist in the U.K. and and Australia, the firm argues.