BUZZ-CoStar's entry could be disruptive for European property platforms, Jefferies says
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CoStar's entry into the European property platform market is expected to disrupt incumbents and accelerate the race to build regional scale. Jefferies predicts CoStar's focus will shift to operators of regional scale, and upgrades Hemnet while maintaining an "underperform" rating on Rightmove. They also maintain a "buy" rating on Schibsted but downgrade Scout24. Overall, CoStar's actions have elevated Hemnet as a sector strategic asset. Jefferies sees Hemnet vigorously pursuing catch-up in take-rate.
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