The Globe and Mail reports in its Tuesday, May 3, edition that CIBC World Markets analyst Scott Fromson is maintaining his "outperformer" recommendation for Colliers International Group. The Globe's David Leeder writes in the Eye On Equities column that Mr. Fromson reduced his share target by $35 (U.S.) to $155 (U.S.). Analysts on average target the shares at $177.29 (U.S.). Mr. Fromson says in a note: "Admittedly we are playing catch-up on a 28-per--cent pullback from the $156.51 (U.S.) 52-week high on Feb. 16, one week before Russia's invasion of Ukraine -- how things have changed since CIGI announced its eighth consecutive quarterly beat on Feb. 10. In the near term, market sentiment has shifted; CIGI technicals are now challenging. Over the longer term, CIGI's fundamentals remain intact and we believe our 12 to 18 month price target period will provide ample time for share price recovery as macro and geopolitical outlooks stabilize. Our estimates come down on expectations for reduced regional growth (particularly EMEA) and lower margins." The Globe reported on Jan. 26 that Scotia Capital analyst George Doumet rated Collier "sector outperform" when it was worth $178.01 (Canadian).