Evercore ISI upgrades Zillow Group, says real estate stock could jump 40% on a 'rapid recovery' in the housing market

Zillow Group shares could jump more than 40% from here, according to Evercore ISI. Analyst Mark Mahaney upgraded shares to outperform from in line, and nearly doubled his price target, saying investors should buy Zillow ahead of what could be a "rapid recovery" in the housing market. "We are in significant part making a macro call here – that the housing market is either already beginning to recover or will very soon do that," Mahaney wrote in a Sunday note.

ZG YTD mountain Zillow shares YTD Zillow shares surged 35% so far in 2023. The stock performed dismally for the better part of the pandemic following dramatic moves in the housing market. Shares fell more than 49% in 2022, and more than 54% in 2021. However, the analyst's $61 price target, raised from $34, suggests the stock can surge another 44% from Friday's close of $42.22. Shares of the online real estate marketplace advanced about 5% in Monday premarket trading.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Airline group warns FAA over 5G retrofitting plan, says rules could cost industry $637MThe world's largest airline trade group warned the FAA this week its proposed requirement for upgrading planes for 5G will cost some $637 million, and many carriers won't be ready.
Источник: FoxBusiness - 🏆 458. / 53 Прочитайте больше »