We are changing our long-term recommendation for CB Richard Ellis Group (CBG) from Neutral to Outperform as we anticipate it will perform well above the broader market. In the last 30 days, the magnitude of fiscal earnings estimates have increased, driven by hard-to-replicate intellectual capital and technology resources that develop and deliver superior analytical, research and client service tools.
CB Richard Ellis is the largest commercial real estate services firm, and operates as a single-source provider of real estate solutions with an extensive knowledge of domestic and international real estate markets. CB Richard Ellis is the global market leader in commercial real estate brokerage and advisory services for property leasing and sales, forecasting, valuations, origination and servicing of commercial mortgage loans, as well as project and real estate investment management.
Our long-term Outperform recommendation on the stock indicates that it would perform well above the broader market. Our target price of $27.00, 27.3X 2011 EPS, reflects this view.
CB RICHARD ELLS (CBG): Free Stock Analysis Report
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