Cushman & Wakefield in Limelight for its Services

Cushman & Wakefield plc (NYSE: CWK) has secured a deal to lease office and life sciences space for Nobell Foods in South San Francisco, California. The cheese from plant-based sources company has leased about 66,000 square feet of space for its new headquarters.

Don't Miss our Black Friday Offers:

Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter

Cushman & Wakefield is one of the world’s largest commercial real estate services firms. Shares lost 1.56% at the close on Wednesday.

Transaction Details

In the deal, Cushman & Wakefield’s Executive Director, Marc Pope, and Senior Director Gary Boitano acted as representatives for the tenant.

Boitano commented, “This transaction adds to the strong momentum we have maintained for many years from biotech and life science users here along the San Francisco Bay Area Peninsula.”

Exiting Services from Russia

With the target to depart from providing services in Russia, Cushman & Wakefield recently inked a deal to transfer its business in Russia to a local firm. Remarkably, the move will be immaterial to the company’s financials.

Investors Remain Bullish

Recently, Wolfe Research analyst Andrew Rosivach reiterated a Buy rating on Cushman & Wakefield but lowered the price target to $28 (a 34.87% upside potential from before market open prices on Thursday) from $44.

The Street is overall bullish on CWK stock with a Strong Buy consensus rating. That’s based on three unanimous Buys. The average Cushman & Wakefield price target of $30.33 implies 46.52% upside potential to levels seen at 9:47am EST., Thursday. Shares have increased 27.2% over the past year.

Bloggers also seem enthused by the company’s developments. TipRanks data shows that financial blogger opinions are 100% Bullish on CWK compared to a sector average of 70%

Additionally, News Sentiment is Positive based on 13 articles over the past seven days. 100% of the articles have a Bullish Sentiment, compared to a sector average of 61%.

Download the TipRanks mobile app now

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Read full Disclaimer & Disclosure