2021-03-05 10:28:30 CSGP CoStar Group
CoreLogic
03/05/21 03/0510:28 03/05/2110:28 | CoStar decision to walk removes overhang on shares, says Keefe BruyetteKeefe Bruyette analyst Ryan Tomasello believes the "somewhat surprising" decision by CoStar Group (CSGP) to withdraw its bid for CoreLogic (CLGX) removes an overhang on the shares considering the uncertainty around the outcome as well as execution risks that would have come with the deal. CoStar's decision highlights management's discipline with respect to acquisitions, Tomasello tells investors in a research note. Further, despite CoStar walking away from the deal, the process signals the company's strong desire to expand its business into residential housing, says the analyst. Tomasello keeps an Outperform rating on the shares with a $1,025 price target. CoStar Group
CoreLogic
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