Piper Sandler raised the firm’s price target on Zillow (Z) to $94 from $82 and keeps an Overweight rating on the shares. The firm notes Q2 results were roughly in-line following a strong run about 40% in the stock from the April lows. Q2 revenue and EBITDA were 1% ahead of Street. The housing market remains subdued, but Zillow is executing on its product initiatives, cutting debt, and buying back stock, Piper adds.
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