BMO Capital analyst Jeffrey Silber lowered the firm’s price target on CoStar Group to $79 from $84 and keeps a Market Perform rating on the shares after its Q4 results and below-consensus guidance. CoStar is the poster child of a successful info services company with must-have products, high subscription base and renewal rates, and an asset-light model, but while its strong growth can continue, investments will be heavy in the near term, the analyst tells investors in a research note.
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