JLL - CBRE Group snags Buy rating Jones Lang LaSalle started at Neutral at Citi

• Citi analyst Brian Ducey on Friday expanded his coverage of the commercial real estate services industry after initiating CBRE Group ( NYSE: CBRE ) with a Buy rating and Jones Lang LaSalle ( NYSE: JLL ) with a Neutral rating.
• Despite the competition and fragmentation surrounding the space, secular demand tailwinds such as outsourcing of real estate services are expected to bode well for the industry, Ducey wrote in a note.
• In a recent survey, though, CBRE ( CBRE ) called for a 15% Y/Y slump in commercial real estate activity in 2023 due to rising interest rates, recession risks and less credit availability.
• "CBRE and JLL set themselves apart relative to peers in terms of scale, product offering, and brand recognition," he added.
• The Quant system's list of the best-rated real estate services stocks placed Zillow Group ( Z ) ( ZG ) as the top dog, followed by Marcus & Millichap ( MMI ), CBRE ( CBRE ) and Jones Lang LaSalle ( JLL ).
• Seeking Alpha contributor WideAlpha viewed CBRE as a Strong Buy in mid-December, 2022, citing the company's increased resilience, strong balance sheet and compelling valuation.

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