Jefferies upgraded CoStar Group to Buy from Hold. The firm adjusted its price target to $67 from a previous $84. This action follows a period of significant stock price decline and volatility for the commercial real estate data provider.
The upgrade diverges from recent cautious stances taken by other financial institutions. BofA Securities recently lowered its price target on CoStar to $52. Wells Fargo reiterated an Underweight rating on the company.
CoStar shares have faced a significant year-to-date drop. However, the stock saw a sharp increase on February 18. This gain followed the launch of a new AI feature on the Homes.com platform.