CoStar Group price target raised to $111 from $97 at BofA

BofA raised the firm’s price target on CoStar Group to $111 from $97 and keeps a Buy rating on the shares following the announcement that the National Association of Realtors agreed to settle a series of anti-trust lawsuits. This settlement could result in lower fees for U.S. buyers’ agents, which the firm thinks is an incremental tailwind for CoStar’s Homes.com revenues and also helps validate its residential strategy with some sceptics, the analyst tells investors.