Wolfe downgrades JLL to Peer Perform, looking for better entry point

As previously reported, Wolfe Research downgraded JLL to Peer Perform from Outperform and removed the firm’s previous $211 price target. JLL, and the commercial real estate services sector in general, has outperformed despite recent rate increases and the firm thinks the potential for a second half recovery in capital markets activity, an important business line for JLL, could be challenged given the recent creep up in interest rates, says the analyst, who advises looking for a better entry point.