CoStar Group (CSGP) PT Raised to $84 at BMO Capital

BMO Capital analyst Jeff Silber raised the price target on CoStar Group (NASDAQ: CSGP) to $84.00 (from $79.00) while maintaining a Market Perform rating.

The analyst comments "Given high investor focus, we publish a deep dive on CSGP's residential strategy. CSGP is leaning heavily into residential spend, accelerating its investment vs 2023. The company has generated great success with prior launches (e.g., Apartments.com), and while the blueprint is similar we expect a bit heavier competition in the residential markets. We acknowledge that the recent NAR Settlement should provide some tailwinds for CSGP. While we have slightly raised our target price, we still believe the valuation is a bit rich."

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