CBRE Group price target lowered to $95 from $100 at Raymond James

Raymond James analyst Patrick O’Shaughnessy lowered the firm’s price target on CBRE Group to $95 from $100 and keeps a Strong Buy rating on the shares. While the continued rise in interest rates in the past few months has dampened hopes of a rebound in activity in capital markets activity this year and pushed the timeline into 2024, the company’s Global Workplace Solutions continues to provide a steady source of revenue growth and stability for the firm, the analyst tells investors in a research note. CBRE’s strong cash flow and balance sheet position also provide the company with plenty of capital allocation optionality, the firm contends.