CBRE Group shares are trading lower after Evercore ISI Group downgraded the stock from Outperform to In-Line and raised its price target from $79 to $96.
Portfolio Pulse from Benzinga Newsdesk
CBRE Group's stock is trading lower following a downgrade by Evercore ISI Group from Outperform to In-Line, despite an increase in the price target from $79 to $96.
January 03, 2024 | 3:29 pm
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NEGATIVE IMPACT
CBRE Group's stock is likely to experience short-term negative pressure due to the downgrade by Evercore ISI Group, despite the raised price target.
The downgrade from Outperform to In-Line suggests that Evercore ISI Group sees limited upside potential or increased risks that could temper investor enthusiasm, leading to potential short-term selling pressure. However, the increase in the price target to $96 indicates a positive long-term outlook, which may mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100