Colliers International price target raised to $174 from $160 at RBC Capital

RBC Capital raised the firm’s price target on Colliers International (CIGI) to $174 from $160 and keeps an Outperform rating on the shares. The potential spin-off of the company’s Investment Management business is not imminent and the firm has no knowledge of anything in the works, but the idea could be gaining traction given the high valuation multiples observed in both public comps and private market transactions along with its ambition to grow the business, the analyst tells investors in a research note.