The Globe and Mail reports in its Thursday, May 5, edition that National Bank Financial analyst Maxim Sytchev has reaffirmed his "outperform" recommendation for Colliers International Group. The Globe's David Leeder writes in the Eye On Equities column that Mr. Sytchev cut his share target back by $12 to $164 (all figures U.S.). Analysts on average target the shares at $170. The Toronto-based professional services and investment management company posted better-than-anticipated first quarter results. Revenue of $1-billion beat the forecasts of both Mr. Sytchev and the Street, "driven by growth across all service lines and most geographies." Adjusted earnings before interest, taxes, depreciation and amortization and earnings per share of $121.5-million and $1.44 also beat expectations. Mr. Sytchev says Colliers's management had a very positive tone on the conference call that followed the earnings release. Mr. Sytchev says in a note: "Colliers management felt confident enough to increase growth projections for the remainder of the year, exceeding Street forecast. High-teens EPS growth in 2022 on the back of record 2021 is impressive, firming up 2025 objectives, as a result."