Wedbush Starts CB Richard Ellis Group (CBG) at Outperform
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Wedbush initiates coverage on CB Richard Ellis Group (NYSE: CBG) with a Outperform rating and a price target of $35.00.
Analyst Jason Weaver commented, "CBRE has proven to be a scale leader in the global commercial real estate services market and has ample runway to sustain growth due to scale and presence. Moreover, its shift toward contractual revenue business lines should warrant a higher valuation due to enhanced revenue and earnings stability over most normal cycles."
Shares of CB Richard Ellis Group closed at $27.56 yesterday.
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