JLL price target lowered to $173 from $222 at Raymond James

Raymond James analyst Patrick O’Shaughnessy lowered the firm’s price target on JLL to $173 from $222 and keeps an Outperform rating on the shares. While depressed transaction activity is expected to persist in the near term and into 2024, JLL’s more recurring businesses including Work Dynamics remain consistent growth stories for the firm, and the risk/reward is attractive at JLL’s current valuation, the analyst tells investors in a research note.