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Fly News Breaks for June 7, 2016
NWS, NWSA, ZG, Z
Jun 7, 2016 | 07:30 EDT
Canaccord said Zillow's (Z) settlement with News Corp. (NWSA) was better than their worst fears. The firm said the settlement amount was well below what News Corp. was seeking, but nearly 2.5 times what management had expensed. The firm, which believes the settlement points to a more rational competitive environment, reiterated its Buy rating and $34 price target on Zillow shares.
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