Goldman Sachs Upgrades Zillow Group (ZG) to Buy

February 5, 2021 4:46 AM EST
Get Alerts ZG Hot Sheet
Price: $144.68 -1.98%

Rating Summary:
    17 Buy, 7 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 18 | New: 47
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(Updated - February 5, 2021 5:56 AM EST)

Goldman Sachs analyst Heath Terry upgraded Zillow Group (NASDAQ: ZG) from Neutral to Buy with a price target of $200.00 (from $119.00).

The analyst comments "Zillow Group shares are +219% over the last twelve months vs. the S&P 500 +16%, which we believe reflects significant acceleration in real estate macro indicators after initial COVID-19 weakness, the impact of innovation in the company’s premier agent business, significant margin leverage in the IMT segment, and discovery value from iBuyer competitor Opendoor’s value in the public market since listing. While we have clearly missed significant outperformance, we believe risk-reward in owning ZG shares is positive. We upgrade ZG to Buy from Neutral and raise our 12-month price target to $200 from $119."

For an analyst ratings summary and ratings history on Zillow Group click here. For more ratings news on Zillow Group click here.

Shares of Zillow Group closed at $156.85 yesterday.

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