Morgan Stanley upgraded CBRE Group (CBRE) to Overweight from Equal Weight with a price target of $160, up from $115. As the largest commercial real estate services and investment firm in the world with a market leading position in both resilient recurring business lines and higher margin cyclical business lines, the company is best positioned to deliver double-digit earnings growth among the group, argues the analyst, who makes CBRE “Top Pick” among REITs. The firm cites both “clear signs of green shoots” and higher conviction that a commercial real estate transaction recovery can materialize in 2025.
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