KeyBanc upgraded Zillow (Z) Group (ZG) to Overweight from Sector Weight with a $100 price target. The firm says its segment-by-segment revenue build and analysis shows there is potential upside to Street estimates even when assuming no improvement in existing home sales through 2026. Zillow’s integrated app experience and increased penetration of enhanced markets can continue driving mid-teens growth in a historically challenging real estate market, the analyst tells investors in a research note. When coupled with high incremental margins and a disciplined investment framework, Zillow is “poised for outsized margin expansion,” contends KeyBanc.
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