Canaccord Cuts Zillow Target to $72 Citing Legal Costs That Weigh on Profitability
Canaccord Genuity reduced its price target for Zillow Group (ZG) to $72 from $84 and kept a Hold rating after the real estate marketplace reported mixed quarterly results. Revenue topped expectations but profitability fell short, with higher-than-anticipated legal expenses projected to shave about 200 basis points off adjusted EBITDA margin in the …