Deutsche Bank Maintains Sell on CoStar Group (CSGP)

Deutsche Bank is out with its report on CoStar Group CSGP, maintaining Sell. In a note to clients, Deutsche Bank writes, "Grubb & Ellis NR formally announced that it is exploring strategic alternatives, including the potential sale or merger of the company, after reportedly receiving several unsolicited overtures. We believe that GBE is a top-10 contributor to CSGP's revenues, and as we put a high probability on GBE being absorbed by another large CSGP broker customer, CSGP stands to lose one of its top contracts as the combined entity undergoes integration, with negative implications for pricing terms and organic growth potential." Deutsche Bank has a $38 PT on CSGP. Shares of CSGP closed Monday at $59.38, up 3.31% from Friday's close.