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Fly News Breaks for May 15, 2019
Z, ZG
May 15, 2019 | 07:26 EDT
As previously reported, Guggenheim analyst Jake Fuller upgraded Zillow to Buy from Neutral, stating that its recent results prove that demand for Offers "is real" and he expects the company's Offers business to surpass its ad business by Q4 and generate greater than $1B of revenue in its first full year. Offers has already shown it can be profitable on a unit basis and the addition of Loans and seller leads could "substantially" increase the homes platform's profit potential, argues Fuller, who set a $45 price target on Zillow shares.
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