UPDATE: Goldman Sachs Starts CBRE Group (CBRE) at Buy
Get Alerts CBRE Hot Sheet
Rating Summary:
5 Buy, 4 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 7 | Down: 3 | New: 1
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Goldman Sachs analyst Casey Whitman initiates coverage on CBRE Group (NYSE: CBRE) with a Buy rating and a price target of $74.00.
The analyst comments "We believe CBRE is well positioned to outperform as we expect above-average earnings growth driven by industry-leading scale, increased proportion of recurring revenue, and permanent cost reductions in 2H2020. Additionally, CBRE has an industry-leading leverage position and strong liquidity profile, which we believe positions CBRE well for external growth and/or share buybacks. From a valuation perspective, CBRE trades above its five-year average P/E and EV/EBITDA multiples, which we view as reasonable given cyclically depressed earnings, reduced earnings volatility, and forecasted economic recovery."
For an analyst ratings summary and ratings history on CBRE Group click here. For more ratings news on CBRE Group click here.
Shares of CBRE Group closed at $66.02 yesterday.
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