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Fly News Breaks for March 24, 2017
ZG, Z
Mar 24, 2017 | 08:17 EDT
JMP Securities analyst Ronald Josey attributes yesterday's selloff in Zillow shares to concerns stoked by press reports suggesting that the CFPB could curtail, or cancel, Zillow's lender co-marketing program as it could be seen as creating a violation of RESPA laws. However, he believes Zillow is constantly updating its co-marketing program to ensure it is compliant with RESPA and views the pullback as a buying opportunity. Josey keeps an Outperform rating and $43 price target on Zillow shares.
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