February 1, 2016 / 6:39 PM / in 2 years

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

** 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

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