Canaccord Genuity Maintains a 'Buy' on Zillow (Z); Adjusting PT/Estimates After Equity Offering
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Price: $59.45 +1.69%
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade Z Now!
Canaccord Genuity maintains a 'Buy' on Zillow (NASDAQ: Z) price target of $50.00 (from $45.00).
Analyst, Michael Graham, said, "We have updated our estimates to reflect the company’s $172M offering. We believe the offering provides Zillow with more flexibility to execute on its multi-year strategy of penetrating several markets with multi-billion-dollar potential."
"Based on the higher share count which is slightly offset by higher interest income, our 2012, 2013 and 2014 EPS estimates go to $0.35, $0.72, and $1.32, from $0.35, $0.78, and $1.42."
For an analyst ratings summary and ratings history on Zillow click here. For more ratings news on Zillow click here.
Shares of Zillow closed at $42.63 yesterday, with a 52 week range of $21.22-$44.23.
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Analyst, Michael Graham, said, "We have updated our estimates to reflect the company’s $172M offering. We believe the offering provides Zillow with more flexibility to execute on its multi-year strategy of penetrating several markets with multi-billion-dollar potential."
"Based on the higher share count which is slightly offset by higher interest income, our 2012, 2013 and 2014 EPS estimates go to $0.35, $0.72, and $1.32, from $0.35, $0.78, and $1.42."
For an analyst ratings summary and ratings history on Zillow click here. For more ratings news on Zillow click here.
Shares of Zillow closed at $42.63 yesterday, with a 52 week range of $21.22-$44.23.
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