The Globe and Mail reports in its Wednesday, Oct. 11, edition that Scotia Capital analyst Michael Doumet has reaffirmed his "sector outperform" recommendation for Colliers International Group. The Globe's David Leeder writes that Mr. Doumet cut his share target back by $7.50 to $122.50 (all figures U.S.). Analysts on average target the shares at $130.90. The Globe says Mr. Doumet lowered his full-year earnings before interest, taxes, depreciation and amortization projection for Colliers International Group to below the company's guidance. Mr. Doumet says in a note: "Following its better-than-feared 2Q23, Colliers maintained its 2023 EBITDA guide -- but higher interest rates and tighter credit markets since are likely to push out any expectations for a normalization/recovery in the transactional business and, we believe, fundraising for IM, such that we trimmed our 2023 EBITDA to $650-million, below the $670-million to $720-million guide. In fact, we believe its transactional business will slump further -- and forecast incremental revenue declines in CM of 8 per cent to 10 per cent from 4Q23 through 2Q24 (as it cycles the 40-per-cent declines that started in September 2022) -- until a recovery in the 2H24."