Evercore ISI Group Downgrades CBRE Group to In-Line, Raises Price Target to $96
Portfolio Pulse from Benzinga Newsdesk
Evercore ISI Group analyst Steve Sakwa has downgraded CBRE Group (NYSE:CBRE) from Outperform to In-Line while raising the price target from $79 to $96. This reflects a more neutral stance on the stock, albeit with a higher expected price level.
January 03, 2024 | 2:14 pm
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NEUTRAL IMPACT
CBRE Group was downgraded by Evercore ISI from Outperform to In-Line, indicating a shift to a neutral outlook, but the price target was increased from $79 to $96, suggesting a positive view on the stock's potential price.
The downgrade to In-Line suggests that Evercore ISI believes CBRE Group is now fairly valued or that the stock's growth prospects are in line with the market, which could temper investor enthusiasm in the short term. However, the increase in the price target implies that the analyst sees some positive factors that could drive the stock's price higher. The mixed signals may result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100