CoStar Group price target lowered to $101 from $104 at BofA

BofA analyst Heather Balsky lowered the firm’s price target on CoStar Group to $101 from $104 and keeps a Buy rating on the shares. The company’s Q2 report “was not as strong as we hoped” as execution challenges led to a sales miss and guide down for LoopNet, the analyst tells investors. While the firm thinks CoStar can quickly reaccelerate LoopNet growth, it acknowledges that investors may need to see improvement before gaining confidence.