Bernstein analyst Nikhil Devnani isn't ready to turn bullish on shares of Zillow, but he sees the company as "closer to the floor."
Bernstein analyst Nikhil Devnani isn’t ready to turn bullish on shares of Zillow Group Inc., but he sees the company as “closer to the floor.”
Devnani upgraded... Bernstein analyst Nikhil Devnani isn’t ready to turn bullish on shares of Zillow Group Inc., but he sees the company as “closer to the floor.” Devnani upgraded Zillow’s stock ZG Z to market perform from underperform in his latest report, writing that Zillow is “not out of the woods yet,” though its “challenges appear to be appreciated.” Shares are up nearly 2% in Monday morning action.See also: This couple searched for a home outside the Bay Area for under $1 million. But she got called back to the office. Here’s what they did next.
While he deemed Zillow’s outlook on earnings before interest, taxes, depreciation and amortization a “wildcard,” he said that the company’s “investments in product initiatives are being taken well by the Street.”
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