CoStar Group price target raised to $104 from $100 at BofA

BofA analyst Heather Balsky raised the firm’s price target on CoStar Group to $104 from $100 and keeps a Buy rating on the shares. After having caught up with CoStar earlier this month to discuss the EBITDA margin trajectory through 2024, the firm thinks its prior outlook was “too optimistic” and it has trimmed its expectations. Meanwhile, BofA has switched to a sum-of-the-parts methodology to “reflect better how we think about the business,” the analyst added.