04:22:26 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Inc
Symbol CIGI
Shares Issued 41,951,236
Close 2022-06-07 C$ 149.39
Market Cap C$ 6,267,095,146
Recent Sedar Documents

Globe says Colliers maintained at "sector outperform"

2022-06-08 07:38 ET - In the News

The Globe and Mail reports in its Wednesday edition that Scotia Capital analyst George Doumet has reaffirmed his "sector outperform" recommendation for Colliers International Group. The Globe's David Leeder writes that Mr. Doumet cut his share target by $8 to $160 (all figures U.S.). Analysts on average target the shares at $150.31. Mr. Doumet believes the Street is not giving "reasonable value" to the expanding investment management business of Colliers International, which he says is "big enough at this point." He says investors are also being "overly punitive on what an economic slowdown could look like." In early May, Colliers announced the acquisition of Rockwood Capital LLC, a U.S. real estate investment management firm with more than $12-billion of assets under management. Mr. Doumet says in a note: "On a pro-forma basis, CIGI's total IM AUM sits at $77-billion, with the segment generating 30 per cent of total adj. EBITDA. We see strategic merits in both recent Basalt and Rockwood acquisitions given that they open the door to cross-selling opportunities between CIGI's existing and new investor bases and between CIGI's existing product lines and allows for increased debt activities through Colliers Mortgage."

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