ESTATE


CB Richard Ellis Shares Rally
2009/03/25, 2:36 pm
Filed under: 1 | Tags: , ,

 

 

NEW YORK — Shares of CB Richard Ellis Group Inc. soared more than 42% in early trading Wednesday. The real estate services company was upgraded to overweight from neutral Wednesday by analysts at J.P. Morgan, who cited recent changes to CB Richard Ellis’ credit agreement as part of the reason behind the move. “We are hopeful that 2009 EPS will mark a trough in the company’s business, but the commercial real estate environment continues to weaken considerably,” they wrote. “No less, we have tried to incorporate very weak operating assumptions and come to the conclusion that the risk/reward and upside/downside in the stock is attractive.”

 

Copyright © 2009 MarketWatch, Inc.

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