CBRE (NYSE:CBRE), Jones Lang LaSalle (NYSE:JLL), and Cushman & Wakefield (NYSE:CWK) have significant offshore businesses and with U.S. dollar-strength abating should benefit as forex headwinds reversed in August, Goldman analyst Andrew Rosivach writes in a note.
Recent selloff in broker shares give investors a buying opportunity, Rosivach writes. Broker earnings should top REITs, be competitive against S&P 500, according to Goldman estimates.
He likes CBRE on increased occupier outsourcing revenue, Cushman & Wakefield on conservative estimates, and Newmark (NASDAQ:NMRK) as comparisons get easier in H2.
