Zillow is faring ‘better than the rest’ in tough climate, analyst says in upgrade

Bernstein analyst Nikhil Devnani isn’t ready to turn bullish on shares of Zillow Group Inc., but he sees the company as “closer to the floor.”

“Zillow estimates have been cut … a lot,” he wrote in a note to clients Monday. “And while the outlook for growth this year still looks bleak, [the first quarter] could mark the bottom.”

Devnani upgraded…