Goldman Sachs Raises PT For CBG and JLL

Goldman Sachs has raised the Price Targets for CB Richard Ellis Group CBG and Jones Lang LaSalle Incorporated JLL. Both companies' ratings have remained neutral.

According to Goldman Sachs "We increase our 12-month target prices to $28 for CBG and $108 for JLL from $25 and $100, respectively, based on 17X and 16X our forward
EPS estimates. The change is based on our view that a premium multiple (5%-10% vs. long-term average) is appropriate this early in the cycle. Risks include low job growth and interest rate volatility."

CBG closed at $25.46 yesterday. JLL closed at $95.81.