Zillow Group price target raised to $80 from $65 at Benchmark

Benchmark analyst Daniel Kurnos raised the firm’s price target on Zillow (Z) Group (ZG) to $80 from $65 and keeps a Buy rating on the shares following what the firm calls “a quarter that we think the bears are going to have a very difficult time refuting.” Metrics provided around mature enhanced markets doubling their all-in revenue per total transaction value “cemented the point that Zillow’s wallet share and conversion gain strategy is working,” according to the analyst, who adds that “perhaps the most impressive fact is that the company is doing this while reducing fixed costs.”