Raymond James analyst Frederic Bastien raised the firm’s price target on Colliers International to $150 from $145 and keeps a Strong Buy rating on the shares. Colliers struck a deal to acquire a significant controlling interest in Englobe Corporation from ONCAP for $475M in cash, and while the proposed transaction is only mildly accretive to the firm’s earnings expectations and target price at present, it will help Colliers’ asset-light business grow more balanced, diversified, predictable and valuable than ever before, the analyst tells investors in a research note.
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