Jefferies raises Zillow stock price target on growth prospects By Investing.com

On Monday, Jefferies maintained a Buy rating on Zillow (NASDAQ:Z) and raised the price target to $80 from $70.

The firm cites three primary reasons for the optimistic stance on the online real estate company. First, they anticipate that Zillow’s Core Premier Agent business will gain from an approximately 50% recovery in Housing Transaction Value.

Second, the expansion of new products is expected to contribute around $500 million of incremental revenue.

Lastly, the low variable costs associated with these revenue streams are projected to enhance EBITDA growth, which could outpace that of Zillow’s peers.

The analyst at Jefferies pointed out Zillow’s consistent performance, highlighting that the company has exceeded expectations in the…

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