Bank of America Merrill Lynch Reiterates Buy on Jones Lang LaSalle

Bank of America Merrill Lynch is out with its report today on Jones Lang LaSalle (NYSE: JLL), reiterating Buy.

In a note to clients, Bank of America Merrill Lynch writes, "JLL is positioned as one of the industry leaders in the commercial real estate services market. We believe JLL gained share during the downturn and is outperforming the market in the early stages of a multi-year recovery in global commercial real estate. We believe consensus is being too conservative in its projections around revenue growth. JLL also generates healthy incremental EBIT margins."

Bank of America Merrill Lynch maintains a $120 PO on JLL.

Shares of JLL closed Friday at $96.12, up 3.22% from Thursday's close.