Barclays Maintains an "Overweight' on Jones Lang LaSalle (JLL); Conference/Meeting Takeaways
Tweet
Share
E-mailGet Alerts JLL Hot Sheet
Price: $375.00 +1.48%
Rating Summary:
10 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Barclays maintains an "Overweight' on Jones Lang LaSalle (NYSE: JLL), PT $112.
Barclays analyst says, "Key Takeaway: On Thursday, we hosted JLL's CFO & COO, Lauralee Martin, and Global Controller, Mark Engel, at the Barclays Global Services conference and for a series of investor meetings in Boston. JLL's transaction businesses are benefitting from cyclical improvement, but management also highlighted secular trends that are driving more sustainable growth in businesses such as outsourcing and investment management. The company remains on track to achieve a 12% operating margin run-rate by the end of 2012 and is also well-positioned to continue to grow via acquisitions. Furthermore, the 1Q11 earnings miss (which was largely down on one-time expense items) does not appear to be indicative of future results, improving
our conviction on the stock. Although JLL is up 14.5% year-to-date (versus 10.0% for the RMZ and 7.2% for the S&P 500), it is down 10.2% since reporting 1Q11 results late last month (versus 0.0% for the RMZ and +0.1% for the S&P500). Given our positive growth outlook, we believe the recent pullback presents a buying opportunity.'
For more ratings news on Jones Lang LaSalle click here and for the rating history of Jones Lang LaSalle click here.
Shares of Jones Lang LaSalle closed at $96.10 yesterday.
Barclays analyst says, "Key Takeaway: On Thursday, we hosted JLL's CFO & COO, Lauralee Martin, and Global Controller, Mark Engel, at the Barclays Global Services conference and for a series of investor meetings in Boston. JLL's transaction businesses are benefitting from cyclical improvement, but management also highlighted secular trends that are driving more sustainable growth in businesses such as outsourcing and investment management. The company remains on track to achieve a 12% operating margin run-rate by the end of 2012 and is also well-positioned to continue to grow via acquisitions. Furthermore, the 1Q11 earnings miss (which was largely down on one-time expense items) does not appear to be indicative of future results, improving
our conviction on the stock. Although JLL is up 14.5% year-to-date (versus 10.0% for the RMZ and 7.2% for the S&P 500), it is down 10.2% since reporting 1Q11 results late last month (versus 0.0% for the RMZ and +0.1% for the S&P500). Given our positive growth outlook, we believe the recent pullback presents a buying opportunity.'
For more ratings news on Jones Lang LaSalle click here and for the rating history of Jones Lang LaSalle click here.
Shares of Jones Lang LaSalle closed at $96.10 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
- SVB & T Corporation (SVBT) Tops Q2 EPS by 275c
- Piper Sandler Reiterates Overweight Rating on KKR (KKR), 'highest conviction name'
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Barclays, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
