The Globe and Mail reports in its Tuesday edition that National Bank analyst Maxim Sytchev is bullish on Colliers International Group. The Globe's guest columnist Jennifer Dowty writes that Mr. Sytchev sees Colliers delivering high returns for investors. Mr. Sytchev continues to target the shares at $164 (U.S.). Colliers is a diversified professional services and investment management company. Mr. Sytchev likes that insider ownership is at 20 per cent, "so there is an alignment of interests with shareholders." He calls Colliers a "high quality company with a very strong capital allocation track record and an unlevered balance sheet." He expects the company to be acquisitive. He says: "Given the fact that leverage is only 0.9 times, it certainly has the ability to deploy capital. And the other critical part of the business is that it has repositioned the asset base to become less cyclical. So not only is the business becoming less volatile, its rising contribution from investment management typically garners higher trading multiples. So we're using a 13 times EV/EBITDA multiple. I don't know where the stock is going to be in three months, but over the next 24 months, I'm extremely comfortable with this business."