We are changing our long-term recommendation for Jones Lang LaSalle (JLL) to Outperform as we anticipate the stock to perform well above the broader market.
Jones Lang operates as a single-source provider of real estate solutions with a broad range of real estate products and services, and has an extensive knowledge of domestic and international real estate markets. In addition, Jones Lang has a strong balance sheet that enables it to continually invest in value drivers that act as key differentiators against its rivals.
Our long-term Outperform recommendation on the stock is supported by our target price of $90.00, or 28.6X our 2010 EPS estimate.Zacks Investment Research
