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Fly News Breaks for August 8, 2019
Z, ZG
Aug 8, 2019 | 07:49 EDT
Benchmark analyst Daniel Kurnos said he expects significant pressure today on Zillow shares after the company reduced revenue and EBITDA guidance, due to continued mortgage struggles plus plans for a more expansive test of its new Flex pricing model. However, he still sees a significant runway for Homes that more than offsets the near-term Flex disruption and are raised his 2020 forecast, stating that he would be a buyer on a post-earnings pullback. Kurnos keeps a Buy rating on Zillow Group and raised his price target on the stock to $55 from $52.
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