JPMorgan initiated coverage of Colliers International (CIGI) with a Neutral rating and $167 price target The company has a strong track record of compounding growth through its strong middle market-oriented franchise and acquisitions, the analyst tells investors in a research note. The firm believes Colliers should continue to see solid growth as commercial real estate transaction activity recovers, but says its business mix “may mute some of this growth.” The stock’s premium valuation is warranted, but may leave less relative upside, contends JPMorgan.
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