UPDATE: Benchmark Raises Zillow's PT
According to a research report published this morning, Benchmark has increased Zillow's (NASDAQ: Z) PT from $40 to $44.
Benchmark said in the report, "Zillow reported strong 1Q12 results. Zillow's Premier Agent program remains the driver, with revenue up 141% y/y, driven by a 74% increase in subscribers. Zillow is increasing investments; a sound strategy to protect its first-mover advantage. Our rating remains Buy and our price target increases from $40 to $44 per share."
Zillow closed yesterday at $36.10.
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