Barclays Maintains an 'Overweight' on CB Richard Ellis (CBG); Analyst/Investor Day: Tempered Optimism

Barclays maintains an 'Overweight' on CB Richard Ellis Group (NYSE: CBG) price target of $20.00.

Barclays analyst says, "CBG hosted its annual business review day for analysts and investors on Wednesday in New York. The tone of the event was positive but tempered by the slow economic recovery, consistent with that of the 3Q11 earnings call roughly three weeks ago. The event confirmed our positive view, and we continue to expect an increase in revenues and margins, as well as earnings stability, from the newly-acquired ING REIM businesses. We project healthy, albeit moderating, year-over-year growth in the company's transaction-driven businesses, as comps become more challenging. Meanwhile, outsourcing trends suggest consistent growth and support our constructive near- and longer-term outlook. Our positive thesis on the stock, largely tied to the company's leverage to the broader real estate recovery, remains intact."

For an analyst ratings summary and ratings history on CB Richard Ellis Group click here. For more ratings news on CB Richard Ellis Group click here.

Shares of CB Richard Ellis Group closed at $15.11 yesterday.

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