CoStar Deal Under FTC Review, TCF Financial Downgraded, Curis Price Target Up, Hess at Outperform
CoStar Group Inc.(NASDAQ:CSGP): William Blair sees a less than 50% chance of CoStar Group’s (NASDAQ:CSGP) acquisition of LoopNet (NASDAQ:LOOP) being consummated given the extended length of the FTC’s review period. The firm believes the FTC finds the deal in its initially proposed form as anticompetitive and thinks divestitures or an agreement that CoStar would not to acquire further companies in the space for a set period of time may be needed to gain approval. William Blair thinks CoStar is unlikely to agree to the latter.
TCF Financial Corporation(NYSE:TCB): Morgan Stanley downgraded the Midcap Bank sector due to valuations and lower asset yields. Note the firm downgraded TCF Financial (NYSE:TCB) to Equal-Weight from Overweight.
Curis Inc.(NASDAQ:CRIS): Oppenheimer increased its target on Curis (NASDAQ:CRIS) after the company and its partner, Roche (RHHBY), announced the approval of their drug Erivedge before its March PDUFA date. The drug is used to treat Advanced Basal Cell Carcinoma. Oppenheimer reiterates an Outperform rating on Curis.
Hess Corporation(NYSE:HES): Oppenheimer notes that Hess recently took a number of steps to increase its crude oil production and the firm maintains an Outperform rating on the stock.
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