CoStar Group initiated with an Overweight at JPMorgan

JPMorgan analyst Alexei Gogolev initiated coverage of CoStar Group with an Overweight rating and $100 price target. CoStar is a leading provider of software-as-a-service subscription-based software solutions to the real estate industry, Gogolev tells investors in a research note. The the company is exposed to a large real estate total addressable market and the shares offer an attractive risk/reward profile, says the analyst.