CoStar Group price target raised to $95 from $85 at RBC Capital

RBC Capital raised the firm’s price target on CoStar Group to $95 from $85 and keeps an Outperform rating on the shares. The company’s bookings grew 17% in Q1, and the firm expects mid-teens bookings growth in Q2 as strong momentum in Apartment.com and LoopNet is offset by continued weakness in the CoStar suite, the analyst tells investors in a research note. The firm adds that CoStar’s Residential unique visitors should continue to accelerate, with monetization expected to start in Q4.