Overview
Barclays has reiterated an Overweight rating on CBRE Group and set a price target of $192.00, well above the company's current share price of $136.42. The firm cited sustained strength across CBRE's business lines, singling out particularly strong year-over-year improvements in segment operating profit.
Segment performance and guidance
In its research note, Barclays highlighted a 14% year-over-year increase in operating profit for CBRE's advisory services segment and a 20% year-over-year rise in operating profit for the buildings operations & experience (BOE) segment. Barclays also referenced CBRE's guidance commentary, which suggests the company began Q1 2026 with double-digit growth across all business segments. Based on that commentary, Barclays expects CBRE to sustain double-digit growth through 2026 as leasing and capital markets activity improve and as CBRE expands its BOE and project management service offerings.
Historical growth and profitability
Data included in the research indicates CBRE has achieved an 8% compound annual growth rate (CAGR) in revenue over the past five years. Analysts cited in the note expect the firm to remain profitable this year.
Acquisitions and inorganic growth
Barclays pointed to CBRE's track record of sourcing and integrating acquisitions as an additional support to the growth outlook, noting the company's acquisition of Pearce Services in the fourth quarter of 2025 as an example.
Valuation and market reaction
On valuation, Barclays views CBRE as attractively priced at 17.4 times consensus 2027 estimated core earnings per share. By contrast, CBRE is currently trading at a price-to-earnings ratio of 37.22, a level described in the research as relatively high when compared with its near-term earnings growth prospects. The research highlighted that a roughly 15% sell-off in commercial real estate servicers the prior day - which occurred without significant company-specific news - created what Barclays called "a particularly attractive entry point" for CBRE shares.
That market move contributed to CBRE's stock slipping from a prior close of $170.33 to $136.42. Analyst price targets cited in the note range from $127 to $212. The research also included a financial health assessment that scored CBRE at 2.5 with an overall rating of "GOOD."
Recent quarterly results and other analyst views
CBRE reported fourth-quarter 2025 earnings per share of $2.73, topping the consensus forecast of $2.68 and Jefferies' estimate of $2.67. For the quarter, net revenue was $6,978 million, slightly below Jefferies' projection of $7,014 million but above the consensus estimate of $6,925 million. Total revenue for the period was $11.6 billion, narrowly missing an anticipated $11.67 billion. Despite the minor revenue shortfall, investors reacted favorably and the stock rose in pre-market trading following the results.
Separately, Jefferies has reiterated its Buy rating on CBRE and maintained a price target of $187.
Implications
Barclays' note frames the recent pullback in CRE servicers and the firm's positive view on CBRE's segment momentum and acquisition execution as a potential buying opportunity, while also pointing to mixed valuation signals when comparing current multiples to expected near-term earnings growth.