Colliers International (CIGI) Upgraded by Raymond James

Colliers International (NASDAQ:CIGI) is one of the 10 best real estate services stocks to buy according to hedge funds.

On February 3, Raymond James analyst Frederic Bastien upgraded his rating on Colliers International (NASDAQ:CIGI) from Strong Buy to Outperform. The analyst also raised his price target on the stock from $195 to $200, implying upside of more than 49%.

Real Estate

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Bastien noted that the $700 million acquisition of Ayesa Engineering has enabled the company to improve its engineering and project management capabilities. This debt-funded deal is expected to be around 5% accretive to adjusted EPS, and also strengthens the company’s footprint across transportation, water, buildings, and energy spaces.

On January 22, Citizens analyst Mitch Germain maintained his Market Perform rating on Colliers International (NASDAQ:CIGI), based on the company’s growth strategy within the engineering sector. He noted that this strategy distinguishes the company from its peers and sets it up to explore organic and inorganic expansion opportunities.

Colliers International Group (NASDAQ:CIGI) provides commercial real estate services to corporate and institutional clients. The business is structured around three distinct platforms: Real Estate Services, Engineering, and Investment Management. They deliver several solutions to clients, including sales, debt finance, landlord & tenant services, maintenance, lease administration, property accounting, appraisal review, and asset valuations.

While we acknowledge the risk and potential of CIGI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CIGI and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.