Raymond James analyst Patrick O’Shaughnessy earlier today upgraded JLL to Strong Buy from Outperform with a price target of $246, up from $218. The analyst also added the shares to the firm’s Analyst Favorites List. The analyst is “increasingly optimistic” on 2023 representing a bottom for JLL’s transaction revenue. The company’s revenue streams had substantial momentum entering 2024 and it is in position to accretively deploy capital towards share repurchases and acquisitions, contends Raymond James. It views the stock’s risk/reward as attractive.
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