Colliers International price target raised to $179 from $175 at CIBC

In a Q3 real estate services preview, CIBC raised the firm’s price target on Colliers International (CIGI) to $179 from $175 and keeps an Outperformer rating on the shares. The firm said that Q3 was a “robust quarter” for real estate services, noting that the group delivered an “average return of 14%.” The firm added that Colliers’ premium reflects an “improved outlook and a greater proportion of recurring revenue.”