Zillow Group stock was rising after an analyst from J.P. Morgan JPM +0.96% cited confidence in the performance of the online real estate company despite continuing challenges in the housing market.
J.P. Morgan analyst Dae Lee initiated coverage of Zillow Z +1.97% (ticker: Z) with an Overweight rating and a $48 price target, while the shares closed at $41.11 on Friday. Lee wrote in a research note Monday that he likes the company’s business model and margins in the current volatile housing market.
Source: www.barrons.com
