Colliers International assumed with an Outperform at Scotiabank

Scotiabank assumed coverage of Colliers International with an Outperform rating and price target of $140, up from $109. Colliers is one of the Canadian success stories with a well-known brand name in the real estate services business across the globe, the analyst tells investors in a research note. The firm calls the company a “compelling cash flow compounder” with a capital light business model and double-digit earnings growth. It says superior cash flow growth is the key factor for share outperformance.