Goldman Sachs Raises PT For CBG and JLL

Goldman Sachs has raised the Price Targets for CB Richard Ellis Group (NYSE: CBG) and Jones Lang LaSalle Incorporated (NYSE: 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.