CoStar Group price target lowered to $60 from $70 at Wells Fargo

Wells Fargo lowered the firm’s price target on CoStar Group (CSGP) to $60 from $70 and keeps an Underweight rating on the shares after hosting an expert call with Lawrence Frankel, former DOJ antitrust attorney, to get his view on the FTC’s and Compass’ recent lawsuits against Zillow (Z) (ZG). Overall, the firm views these developments as neutral to slightly positive for CoStar. While the FTC’s options to remedy the Zillow/Redfin deal are limited, any disruption to this partnership would be a positive for CoStar’s Apartments.com given Zillow is its largest competitor, Wells adds.