Barclays Raises Numbers on CB Richard Ellis Group (CBG) After Positive Meeting with Management
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Price: $47.31 -0.23%
Rating Summary:
6 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Overweight' on CB Richard Ellis Group (NYSE: CBG) price target raised $1 to $22.
Analyst, Ross L. Smotrich, said, "We hosted investor meetings with Gil Borok, CFO of CBG, in Boston and New York this week. His tone was positive, underscored by the belief that the commercial real estate recovery is only in its early stages and given generally positive trends in each key business. Specifically, strong demand for core acquisitions appears ready to spill into B-quality assets and markets."
Other takeways from mgmt meeting include: 1) Leasing volume is up, but rents should provide next push in growth; 2) Trends for outsourcing/investment mgmt getting stronger; and 3) Continue keeping eyes open for M&A opportunities.
Barclays raises FY12 EPS estimate from $1.27 to $1.30 and FY13 from $1.53 to $1.61.
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 $20.75 yesterday.
Analyst, Ross L. Smotrich, said, "We hosted investor meetings with Gil Borok, CFO of CBG, in Boston and New York this week. His tone was positive, underscored by the belief that the commercial real estate recovery is only in its early stages and given generally positive trends in each key business. Specifically, strong demand for core acquisitions appears ready to spill into B-quality assets and markets."
Other takeways from mgmt meeting include: 1) Leasing volume is up, but rents should provide next push in growth; 2) Trends for outsourcing/investment mgmt getting stronger; and 3) Continue keeping eyes open for M&A opportunities.
Barclays raises FY12 EPS estimate from $1.27 to $1.30 and FY13 from $1.53 to $1.61.
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 $20.75 yesterday.
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