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Fly News Breaks for October 29, 2019
Oct 29, 2019 | 07:23 EDT
JPMorgan analyst Anthony Paolone reinstated coverage of CBRE Group with an Overweight rating and $66 December 2020 price target following a period of restriction. Prior to restriction, the firm had an Overweight rating with a December 2019 price target of $63. As the largest platform in the space, CBRE's ability to drive its margins through scale is notable, and its balance sheet gives it "significant" ability to invest into the business to drive growth, Paolone tells investors in a research note.
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