The Globe and Mail reports in its Thursday, April 18, edition that Scotia Capital analyst Himanshu Gupta has reaffirmed his "sector outperform" recommendation for Colliers International Group. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gupta lowered his share target to $135 from $140 (all figures U.S.). Analysts on average target the shares at $139.50. Mr. Gupta says in a note: "In the last one month, the stock price of Colliers International Group and other commercial real estate brokers are down 10 per cent as 10-year treasury yield has moved up 40 basis points. The Canadian REIT sector is down 7 per cent as well. While our target on Colliers International is reduced to $135, we reiterate our 'sector outperform" rating. Colliers International is now trading at 10.2 times EV/EBITDA multiple, and we still look for rerating on investment management (IM business)." The Globe reported on Jan. 5 that National Bank Financial analyst Maxim Sytchev had cut Colliers to "sector perform" from "outperform." It was then worth $114.67. The Globe reported on Feb. 9 that RBC analyst Jimmy Shan was sticking with his "outperform" recommendation for Colliers when it could be had for $122.08.