BUZZ-Colliers International Group: RBC hands first downgrade in 2 yrs

Mon Feb 1, 2016 1:34pm EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Canadian real estate services provider's U.S.-listed stock down 11 pct at $38.50

** RBC cuts rating to "sector perform" from "outperform", the first downgrade on the stock in nearly 2 years

** RBC also cuts PT by $7 to $47, 3rd lowest among the nine brokerages covering the stock

** Now 6 brokerages rate the stock "buy" or higher and 3 "hold"; their median PT drops to $50 from $52

** Canadian-listed stock also hit, down 11.5 pct at C$53.89

** Up to Friday's close, Canada-listed stock had risen 55 pct in 12 months, while U.S.-listed stock had risen 22 pct