Colliers International price target lowered to $131 from $133 at National Bank

National Bank lowered the firm’s price target on Colliers International to $131 from $133 and keeps an Outperform rating on the shares as part of a broader research note previewing Q2 results for select Industrial Products names. The transactional parts of the business represent 38% of trailing-12-month EBITDA, and the recovery in the Capital Markets business in the second half of the year appears “tenuous”, the analyst tells investors in a research note. Lack of capital funding and concerns around the structural outlook in office will likely push the commencement of a price clearing mechanism into 2024, the firm added.