Colliers International (NASDAQ: CIGI) Receives Sector Outperform Rating from Scotiabank - Price Target Set at $155.00
Scotiabank has reiterated its Sector Outperform rating for Colliers International, with a $155.00 price target. Despite recent share price increases, Scotiabank sees potential for further growth based on a positive market outlook.
On Friday, Colliers International announced a reclassification of its operating segments, which has been well-received by Scotiabank. This has led to an adjustment in their valuation method, with a focus on the potential for increased Capital Markets revenue in the coming years.
If Colliers' revenue reaches its 2021 peak by 2026, there could be a significant increase in EBITDA, potentially raising the target valuation to $190.00. This reflects Scotiabank's confidence in the company's future performance under favorable market conditions.
InvestingPro Insights
Colliers International has a market capitalization of $7.4 billion and is trading near its 52-week high, with a strong return over the last year. The company's financial stability and profitability, combined with analyst expectations of net income growth, support Scotiabank's positive outlook on the stock.
Investors can find more in-depth analysis and tips on Colliers International's financial health and market position on InvestingPro.
Analysis: Scotiabank's reaffirmation of Colliers International's Sector Outperform rating and $155.00 price target suggests confidence in the company's future growth potential. The reclassification of operating segments and potential increase in Capital Markets revenue could drive significant EBITDA growth, leading to a higher target valuation. Investors should consider Colliers' strong market performance and profitability when evaluating investment opportunities.