The Globe and Mail reports in its Wednesday, Nov. 22, edition that Stifel analyst Daryl Young started coverage on Colliers International Group with a "buy" recommendation. The Globe's David Leeder writes that Mr. Young targets the shares at $130 (U.S.). Analysts on average target the shares at $117.17 (U.S.). Mr. Young says in a note: "Colliers remains one of our highest conviction long-term buy and hold ideas, underpinned by a best-in-class management team that has a repeatable formula for compounding value. However, the short-term results remain very challenging to predict, with the volatile interest rate environment continuing to delay a recovery of transaction services revenues and stalling investment management fund raising. Estimates have been reset for 2023 and 2024, and Colliers's more resilient and recurring revenue streams now account for over 70 per cent of the EBITDA mix (O&A and investment management). Additionally, at current trading valuation, we believe that the stock is largely discounting the cyclical risks, meaning investors are acquiring a relatively defensive professional services platform and asset manager, with a free option on a recovery in commercial real estate brokerage activity."