| Friday | ||||
Citi analyst Michael… Citi analyst Michael Griffin initiated coverage of CBRE Group with a Buy rating and $100 price target. The commercial real estate industry should benefit from long-term secular demand tailwinds, including continued outsourcing of real estate services, the analyst tells investors in a research note. The firm believes CBRE's scale, operational expertise, and depth across product line "differentiates it relative to peers." It thinks the company's globally recognized platform combined with greater exposure to more resilient business lines should benefit it in the near term. | ||||
| Over a week ago | ||||
Keefe Bruyette analyst… Keefe Bruyette analyst Jade Rahmani downgraded CBRE Group to Market Perform from Outperform with an unchanged price target of $88. The analyst reduced commercial real estate broker estimates to 10%-20% below the consensus, driven by more conservative assumptions around volume, margins, and other income. As the broker stocks have rebounded 10% year-to-date, the firm recommends an underweight position near-term given uncertainty in commercial real estate markets. The analyst downgraded CBRE citing the modest upside to the price target and the stock's 25% premium to peers. | ||||
CBRE Group and Forum… CBRE Group and Forum Mobility, a zero-emission trucking solutions provider, announced the closure of a $15M Series A funding round, and a new $400M joint venture, both led by a fund sponsored by CBRE Investment Management, to provide comprehensive, zero-emission charging and vehicle solutions to drayage truck fleets and drivers. Homecoming Capital also participated in the Series A funding round and provided $100M to the joint venture. Currently proposed regulations from the California Air Resources Board would require all of California's drayage fleet - approximately 30,000 trucks - to be zero-emission by 2035. Forum Mobility's existing seed investors all participated in the Series A, including Obvious Ventures, Edison International, Overture, and Homecoming Capital. New Series A investors include CBRE Investment Management, Elemental Excelerator and Amazon's Climate Pledge Fund. | ||||
As previously reported,… As previously reported, Evercore ISI analyst James West initiated coverage of Altus Power (AMPS) with an Outperform rating and $15 price target, arguing that the developer, owner, and operator of large-scale solar, energy storage, and EV charging systems "stands out in the clean energy universe" for its positive EBITDA generation, ability to scale its platform, and "differentiated key relationships that enable a much lower customer acquisition cost." Altus' key Blackstone (BX) and CBRE (CBRE) relationships are "a huge competitive advantage" that will allow Altus to complete projects across the U.S. without having to carry the cost of building local construction teams and project field management offices, West tells investors. | ||||
| Over a month ago | ||||
Leasing discussion with… Leasing discussion with Chairman Amrich of CBRE's NYC Advisory & Transaction Services Group to be held at a meeting in New York on November 29 at 10 am hosted by BMO Capital. | ||||
Leasing discussion with… Leasing discussion with Chairman Amrich of CBRE's NYC Advisory & Transaction Services Group to be held at a meeting in New York on November 29 at 10 am hosted by BMO Capital. | ||||
Leasing discussion with… Leasing discussion with Chairman Amrich of CBRE's NYC Advisory & Transaction Services Group to be held at a meeting in New York on November 29 at 10 am hosted by BMO Capital. | ||||
| Over a quarter ago | ||||
Reports Q3 revenue… Reports Q3 revenue $7.53B, consensus $7.75B. | ||||
UBS analyst Alex Kramm… UBS analyst Alex Kramm lowered the firm's price target on CBRE Group to $86 from $95 and keeps a Neutral rating on the shares as part of a broader research note on Real Estate brokers. The analyst states that macro uncertainty for the group is increasing, though he also sees it as being "priced in" by the stocks. | ||||
Real Estate Services… Real Estate Services Analyst Sakwa holds a meeting in New York on September 15 hosted by Evercore ISI. | ||||
