Zillow Upgraded, Analyst Predicts Strong Growth With Lower Mortgage Rates On The Horizon

Zillow Group, Inc. Z shares are trading higher after Wedbush upgraded the stock from Neutral to Outperform and raised its price target from $50 to$80.The analyst Jay McCanless writes they see a potential boost from lower mortgage rates for Zillow’s core brokerage business.The S&S revenues, included in the Residential revenue line, have contributed to faster revenue growth compared to the national existing home market in recent quarters, adds the analyst.McCanless maintained third-quarter estimates, which a ...