CoStar Group price target lowered to $60 from $80 at BTIG

BTIG lowered the firm’s price target on CoStar Group (CSGP) to $60 from $80 and keeps a Buy rating on the shares after its Q4 results. The CoStar Group debate has taken several twists since Q3, going from concern around a Q3 bookings miss to a “medium-term” outlook in January that left investors with a bad taste, the analyst tells investors in a research note. Bookings misses make it harder to underwrite double-digit organic growth, and a light CRE margin guide feeds fears raised by that medium-term outlook, the firm added.