UPDATE: Morgan Stanley Downgrades Zillow on TAM Saturation Concerns, Stock Overvalued
September 05, 2013 at 10:43 AM EDT
In a report published Thursday, Morgan Stanley analyst Scott Devitt downgraded the rating on Zillow (NASDAQ: Z ) from Equal-Weight to Underweight, but raised the price target from $66.00 to $70.00. In the report, Morgan Stanley noted, “We downgrade Zillow to Underweight, as we have concerns about TAM saturation and
