Keefe Bruyette lowered the firm’s price target on JLL (JLL) to $280 from $325 and keeps an Outperform rating on the shares. While the Q1 results for the commercial real estate brokers should be solid, driven by capital markets and leasing growth, a weaker macro outlook shifts the focus to downside risk, the analyst tells investors in a research note. The firm reduced estimates ahead of the earnings reports.
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