Zillow Group price target raised to $74 from $66 at RBC Capital

RBC Capital raised the firm’s price target on Zillow Group (ZG) to $74 from $66 and keeps an Outperform rating on the shares. The company’s Q3 report was better-than-feared where the enhanced market strategy is visibly showing up in the numbers and consistently enabling outperformance vs. the market, largely irrespective of interest rates, the analyst tells investors in a research note. Zillow’s outsized growth is increasingly reconciling with qualitative product feedback, which becomes a compelling story for investors into 2025, RBC added.