Wells Fargo notes that pre-market open, Reuters reported Third Point plans to launch an activist campaign at CoStar Group (CSGP). Press reports indicate Third Point will push CSGP to wind down or sell Homes.com, a Zillow (Z) (ZG) residential competitor. Wells sees the news as positive for Zillow competition concerns. The firm has an Equal weight rating on Zillow with a price target of $73.
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