Canaccord Genuity Maintains a 'Buy' on Jones Lang LaSalle (JLL); Adjusting Q4 Estimates

Canaccord Genuity maintains a 'Buy' on Jones Lang LaSalle (NYSE: JLL) price target of $80.00.

Canaccord analyst, Eric Prouty, says, "Following a better-than-expected Q3 earnings report, we feel comfortable raising our Q4 revenue estimate but maintaining EPS on higher projected expense assumptions in the quarter. We maintain our BUY rating as we anticipate that JLL’s expertise in providing green building/sustainability solutions and the trend toward real estate outsourcing will drive long-term market share gains."

"We increase our Q4 revenue estimate to $1,090M, from our recently lowered
forecast of $963M. While we remain somewhat cautious regarding real estate
market trends (especially in Europe), JLL continues to execute well, in our
view, and appears to be gaining share in important high-growth markets like
Asia-Pacific. In addition, LIM (LaSalle Investment Mgmt.) is performing better
than we had anticipated, so we’ve bumped up our Q4 revenue forecast for this
business (now at $80M vs. $63M previously)."

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 $66.17 yesterday.

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