Market Overview

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

Share:
Related CSGP
S&P Global Hits New 52-Week High on Strong Growth Drivers
Benzinga's Top Upgrades, Downgrades For March 13, 2017

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
Dec 2017JP MorganDowngradesOverweightUnderweight
Nov 2017Goldman SachsInitiates Coverage OnBuy
Oct 2017Bank of AmericaReinstatesBuy

View More Analyst Ratings for CSGP
View the Latest Analyst Ratings

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

 

Related Articles (CSGP)

View Comments and Join the Discussion!