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Investing.com - Scotiabank raised its price target on Colliers International (NASDAQ:CIGI) to $185.00 from $170.00 on Tuesday, while maintaining a Sector Outperform rating on the real estate services company. The stock, currently trading at $166.92, has shown remarkable momentum with a 36% gain over the past six months. According to InvestingPro analysis, Colliers appears overvalued at current levels, despite its strong market performance.
The $15 increase in the price target is based on a higher 2026 estimated EV/EBITDA multiple of 14.5x, representing a 1.0x increase from the previous valuation model.
Scotiabank noted that Colliers’ EV/EBITDA multiple has expanded by approximately 2 turns year-to-date, similar to competitor CBRE, and the firm expects another 1 turn multiple expansion ahead.
The bank cited the current "synchronized easing phase" as supportive of valuation multiple expansion for the sector.
On a relative basis, Scotiabank pointed out that Colliers is trading at a 1.7x turn discount to CBRE , which it described as "the worst spread in the last ten years," noting that historically, Colliers has traded at a small premium to its closest competitor.
In other recent news, Colliers International reported its second-quarter 2025 earnings, surpassing analyst expectations. The company achieved an earnings per share (EPS) of $1.72, which was higher than the forecasted $1.50. Additionally, Colliers International’s revenue reached $1.35 billion, exceeding the anticipated $1.29 billion. These results reflect positively on the company’s financial performance for the quarter. The earnings announcement was followed by a positive response from investors. Analyst firms have noted the company’s ability to outperform expectations in this period. These developments are part of the recent updates from Colliers International.
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