- Citi analyst Brian Ducey on Friday expanded his coverage of the commercial real estate services industry after initiating CBRE Group (NYSE:CBRE) with a Buy rating and Jones Lang LaSalle (NYSE:JLL) with a Neutral rating.
- Despite the competition and fragmentation surrounding the space, secular demand tailwinds such as outsourcing of real estate services are expected to bode well for the industry, Ducey wrote in a note. In a recent survey, though, CBRE (CBRE) called for a 15% Y/Y slump in commercial real estate activity in 2023 due to rising interest rates, recession risks and less credit availability.
- "CBRE and JLL set themselves apart relative to peers in terms of scale, product offering, and brand recognition," the analyst added.
- The Quant system's list of the best-rated real estate services stocks placed Zillow Group (Z) (ZG) as the top dog, followed by Marcus & Millichap (MMI), CBRE (CBRE) and Jones Lang LaSalle (JLL).
- Seeking Alpha contributor WideAlpha viewed CBRE as a Strong Buy in mid-December, 2022, citing the company's increased resilience, strong balance sheet and compelling valuation.
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