Wolfe Research has upgraded Jones Lang Lasalle Inc (NYSE: JLL) to “Outperform” from “Peer Perform”, while assigning a 12-month price target of $353.00 on the stock.
According to Wolfe Research, Jones Lang Lasalle benefits from capital markets comps and improved disclosure supports multiple expansion. Meanwhile, sector tailwinds from potential deregulation and tax reform may speed up its earnings growth.
Stock Performance
The shares of Jones Lang Lasalle Inc (JLL) closed 7.75% ($20.40) higher at $283.67 in New York on Monday. It has been the stock’s largest single-session gain since February 15th.
The company’s total market cap now stands at $13.459 billion.
The shares of Jones Lang Lasalle Inc (JLL) went up 18.51% in 2023, compared with a 10.99% gain for the benchmark index, NYSE Composite (NYA).
The company’s shares have risen another 50.19% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, at least 2 out of 3 surveyed investment analysts had rated Jones Lang Lasalle Inc’s stock as “Buy”, while 1 – as “Hold”. The median price target on the stock stands at $321.00, which translates into a 13.16% upside compared to the closing price on Monday.
The high point of the analyst forecast range stands at $353.00.
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