UPDATE: Goldman Sachs Starts Colliers International (CIGI) at Buy
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Goldman Sachs analyst Casey Whitman initiates coverage on Colliers International (NASDAQ: CIGI) with a Buy rating and a price target of $101.00.
The analyst comments "Colliers has delivered above peer average revenue and earnings growth over the past five years driven by investment in talent and technology and through acquisitions. While we like Colliers’ track record of strong revenue and EPS growth and well positioned balance sheet to help support future growth, valuation trades at a premium, deserved in our view, to the group average. As such, we see less upside to our 12-month price targets for Colliers relative to our CRE Broker coverage. We would look to be more positive on Colliers shares if earnings exceeded our expectations and/or valuation and upside to our price targets were more compelling relative to our coverage."
Shares of Colliers International closed at $92.51 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
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