Barclays Capital has upgraded its investment rating on Zoopla Property Group (LON:ZPLA) to 'overweight' from 'equal weight' ahead of the company's inaugural investor day (to be held on September 15) which it thinks will be an important moment for the stock.
Analysts commented: "Near term, we think current trading for uSwitch is likely strong, leading to potential consensus upgrades. Beyond that, we see several sources of upside - and we think that management's vision will refocus attention on them."
Barclays has upped its price target to 335 pence a share (from 250 pence), implying around 10 per cent potential upside.
Earnings per share estimates have been increased by 3 per cent for fiscal year 2016, by 1 per cent for 2017 and left unchanged for 2018.
At 2:15pm: (LON:ZPLA) Zoopla Property Group Plc share price was +25.25p at 331.25p