Morgan Stanley initiated coverage of CBRE Group with an Equal Weight rating and $105 price target. The company is well positioned with a steady double-digit growth from recurring revenues, the potential for improving margins on expense efficiency, and reinvestment of excess cash flow, while a capital markets recover offers further upside optionality, the analyst tells investors in a research note. Morgan Stanley adds however that while it is “positively inclined” on CBRE, it prefers to wait for a more “opportunistic” entry point.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CBRE:
- CBRE Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) Declares Monthly Distribution for July 2024 and Availability of 19(a) Notice
- CBRE Group Announces New Board Member and Regulatory Compliance
- CBRE Group price target lowered to $95 from $100 at UBS
- CBRE announces plans to combine project management business with subsidiary