BUZZ-CoStar gains; Benchmark initiates with 'buy'

CoStar Group, Inc.

CoStar Group, Inc.

CSGP

0.00

** Shares of real estate information provider CoStar Group CSGP.O rise 1.8% to $34 premarket

** Benchmark initiates coverage with "buy" rating; sets PT at $45, implying a 34.7% upside to stock's last close

** Brokerage upbeat on co's position as a dominant information provider for commercial real estate; notes 95% of co's revenue is subscription based with 90% renewal rates

** The company has been investing heavily in its residential platform Homes.com, which management believes will grow sharply in coming years - Benchmark

** Average rating of 21 analysts is "buy"; their median PT is $49 - data compiled by LSEG

** Up to last close, stock has fallen 50.3% YTD


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