Shares of Zillow Group Inc. were rising 5% in Tuesday’s premarket action after Piper Sandler analyst Thomas Champion upgraded the stock to overweight from...
Shares of Zillow Group Inc. ZG Z were rising 5% in Tuesday’s premarket action after Piper Sandler analyst Thomas Champion upgraded the stock to overweight from neutral. “We think an improving macro & share gains on top of easy compares sets up [Zillow] well into ’24,” he wrote in a note to clients. Champion thinks last quarter likely marked the trough for home-sales growth, while a stabilization of mortgage rates could catalyze demand.
ZG Z were rising 5% in Tuesday’s premarket action after Piper Sandler analyst Thomas Champion upgraded the stock to overweight from neutral. “We think an improving macro & share gains on top of easy compares sets up [Zillow] well into ’24,” he wrote in a note to clients. Champion thinks last quarter likely marked the trough for home-sales growth, while a stabilization of mortgage rates could catalyze demand.
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