Colliers: Look Beyond Headline Miss And Focus On Acquisition
CIGIColliers International(CIGI) Seeking Alpha·2024-08-04 20:01
JHVEPhoto/iStock Editorial via Getty Images My Buy rating for Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI:CA) stock stays unchanged. CIGI's headline EPS miss is not a concern, as this relates to a non-operating factor, more specifically foreign exchange. Instead, investors should focus on Colliers International's acquisition of engineering business Englobe Corporation, which brings multiple positives. CIGI's FY 2024 prospects have become more favorable with this M&A transaction, and I thin ...