Colliers International upgraded to Strong Buy from Outperform at Raymond James

Raymond James upgraded Colliers International (CIGI) to Strong Buy from Outperform with a price target of $200, up from $195. Colliers advanced its engineering and project management capabilities by acquiring Ayesa for about $700M, the analyst tells investors in a research note. The transaction, likely funded with debt, is projected to be roughly 5% accretive to adjusted EPS and strengthens Colliers’ presence across transportation, water, buildings, and energy, while postioning Europe for further complementary acquisitions, the firm says.