Canaccord Genuity Analyst Michael Graham on Friday increased his price target for shares of Zillow Group , calling the company’s outlook and new strategies “exciting.” As the company increases its dominance across the real estate market, Graham wrote, its plans “strongly reinforce our view that Zillow is still in the early stages of growing into a much larger company.” He reiterated his buy rating, adding, “we would continue to look for entry points to increase exposure over the long term.” Graham’s $54 price target implies an 18% jump in share price from Friday levels, and is stronger than the FactSet median of $50.44. Zillow’s fourth-quarter EPS was in line with analyst expectations, but revenue was slightly higher. The stock is up 34.4% over the past 12 months, beating the 11.2% gain for the S&P 500 .
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