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UPDATE: Morgan Stanley Downgrades CoStar Group to Underweight; Valuation Full

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Morgan Stanley reduced its rating on CoStar Group (NASDAQ: CSGP) from Equal-weight to Underweight and established a new price target of $73.

Morgan Stanley commented, "With the catalyst of the LoopNet merger behind, uncertainty about integration and rev synergies ahead, and the stock pricing in a very bullish scenario, we move to UW. We believe the stock price currently reflects the company's long-term goals of $500M run-rate revenue by the end of 2014 and adjusted EBITDA margins in the low- to mid-thirties, leaving little room for upside from these levels, and is not discounting the risk that the company may not achieve them."

CoStar Group closed at $83.24 on Wednesday.

Latest Ratings for CSGP

DateFirmActionFromTo
Apr 2015JMP SecuritiesMaintainsMarket Outperform
Apr 2015SunTrust Robinson HumphreyMaintainsBuy
Jan 2015CitigroupMaintainsNeutral

View More Analyst Ratings for CSGP
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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