CBRE Group Inc (NYSE: CBRE) has been downgraded to “Outperform” from “Strong Buy” at Raymond James.
The firm still considered CBRE Group as having the most attractive secular growth profile within its peer group. Yet, it cited more attractive risk/reward propositions elsewhere among peers given CBRE Group’s premium valuation compared to peers.
The firm also revised down its 12-month price target on the stock to $152 per share from $155 previously.
That followed an update by UBS earlier this week, as the investment bank maintained a “Neutral” rating and raised its price target on CBRE Group to $146 per share from $130.
Stock Performance
The shares of CBRE Group Inc (CBRE) closed 0.08% ($0.11) higher at $141.13 in New York on Friday. It has been a fresh record high closing price for the stock.
The company’s total market cap now stands at $43.188 billion.
The shares of CBRE Group Inc (CBRE) went up 41.03% in 2024, compared with a 23.30% gain for the benchmark index, S&P 500 (SPX).
The company’s shares have added 7.49% to their value so far this year.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
