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Fly News Breaks for February 11, 2020
JLL
Feb 11, 2020 | 16:23 EDT
Keefe Bruyette analyst Jade Rahmani views the post-earnings selloff today in shares of Jones Lang LaSalle as overdone. The analyst believes the stock's underperformance partly relates to confusion around the company's guidance for 2020 fee revenues. Management expects 6%-8% organic revenue growth, which including a full year of HFF implies fee revenue of $7.3B-$7.5B, Rahmani tells investors in a research note. She raised her forward estimates by 2%-4%, her price target to $200 from $196, and maintains an Outperform rating on Jones Lang LaSalle shares.
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