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Fly News Breaks for December 22, 2016
Z
Dec 22, 2016 | 08:02 EDT
Stifel analyst George Askew started coverage of Zillow with a Hold rating and a $36 price target. The analyst says that the "volume growth of Premier Agent advertisers and mortgage broker leads is being managed lower as quality and pricing sharply increase." He says that the strategy has produced strong revenue growth, but he says that the trend is "limited" and warns that the company may generate "limited volume growth in the future." He adds that higher interest rates could hurt the company going forward.
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