RBC Capital analyst Brad Erickson lowered the firm’s price target on Zillow Group to $60 from $66 and keeps an Outperform rating on the shares. The company “handily beat” Q1 estimates but guided Q2 down on outsized effects from the most recent move in rates, the analyst tells investors in a research note. Zillow’s second-half setup looks attractive given a conservative guide and accelerating enhanced market rollout but execution here is paramount, RBC added.
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