CoStar Group initiated with a Neutral at BTIG

BTIG initiated coverage of CoStar Group with a Neutral rating and no price target. As “a leader” in the Commercial Real Estate, or CRE, data and analytics and marketplace business, the flagship CoStar Suite is embedded into the workflow of CRE stakeholders and its CRE marketplaces provide property owners an efficient way to promote their properties online, the analyst tells investors. The company’s next frontier is the Residential market, but going after this opportunity “does not come without its risks,” the analyst contends.