UBS upgrades CBRE to Buy on ‘rare buying opportunity’

UBS upgraded CBRE Group (CBRE) to Buy from Neutral with a price target of $185, up from $175. The firm views the recent pullback in the shares as a “rare buying opportunity.” While AI could impact the business over time, CBRE is positioned to benefit given its “strong industry position and vast data assets,” the analyst tells investors in a research note. UBS upped the company’s estimates on strong industry trends and company guidance. It believes the commercial real estate environment continues to improve.