RBC says Google’s real estate ads pose little fundamental risk to Zillow

Group 1 - RBC Capital highlights that Google (GOOGL) is entering the "portal wars" by placing real estate listing ads from third parties in search results [1] - Mike Delprete, a respected real estate domain expert, provided evidence for this development, indicating a potential shift in the competitive landscape [1] - RBC notes that Zillow's (Z) exposure to SEO is limited, suggesting that while there may be some impact on discoverability, the fundamental effects on Zillow's revenue are less likely to be significant [1] Group 2 - RBC maintains an Outperform rating on Zillow with a price target of $95 per share, indicating confidence in the company's performance despite the competitive pressures from Google [1]