CoStar Group price target raised to $108 from $102 at JPMorgan

JPMorgan analyst Alexei Gogolev raised the firm’s price target on CoStar Group to $108 from $102 and keeps an Overweight rating on the shares after attending the Inman Conference. The company’s residential business is currently dragging the valuation, but this will turn as Homes.com demonstrates continued bookings strength, the analyst tells investors in a research note. The firm believes the Inman Conference in “was a major positive event” for Homes.com business. It expects “great swaths” of new member additions to the Homes.com platform post such large gatherings of real estate agents and brokerages.