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CoStar Group initiated with an Outperform at Wolfe Research

Wolfe Research analyst Scott Wurtzel initiated coverage of CoStar Group (CSGP) with an Outperform rating and $105 price target which represents 19% upside. The company’s investment returns on Homes.com, continued strength in Apartments.com, and stable growth in LoopNet and CoStar Suite can support low-double-digit to low teens sales growth over the medium-term, with operating leverage leading to material margin expansion and EBITDA dollar growth, the analyst tells investors in a research note.

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