Zillow Group rises; Wedbush upgrades to 'outperform', lifts PT

Zillow

16/09/2024 11:52

** Real estate service provider Zillow Group's shares  ZG.O 
rise 2.5% to $59.28 premarket
    ** Wedbush upgrades ZG to "outperform" from "neutral",
citing revenue upside potential from co's software & services
initiatives
    ** Raises price target to $80 from $50, representing over
38% upside to the stock's last close
    ** Sees "free-falling" mortgage rates as catalyst for ZG's
core brokerage business
    ** Two of 21 brokerages rate the stock "strong buy", 10
"buy" and 9 "hold"; their median PT is $55.50 - LSEG data
    ** Up to last close, stock had risen ~2% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))