Keefe, Bruyette & Woods Cuts CBRE Price Target to $164

Keefe, Bruyette & Woods reaffirms its Outperform rating on CBRE Group with a new price target of $164, a 20.90% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:10 PM EDT

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Keefe, Bruyette & Woods cut its price target on CBRE Group, Inc. ($CBRE) to $164 from $174 on October 9, 2026, and rates the stock "Outperform".

Since the rating, $CBRE is up 1.7% after 1 week and up 1.7% to date (from the $130.80 close on Oct 9, 2026).

CBRE CBRE Group, Inc.

$133.08 -16.92% year to date

Daily close · Oct 16, 2026

Key Points

On October 9, 2026, Keefe, Bruyette & Woods reiterated its Outperform rating on CBRE Group, Inc. with a price target of $164, reduced from $174.
Keefe, Bruyette & Woods's $164 price target implies 20.90% upside from CBRE Group, Inc.'s ($CBRE) current $135.65 share price.
Currently, CBRE trades at $135.65, which is about 17.3% below the new price target set by Keefe, Bruyette & Woods.
The company's trailing twelve-month revenue stands at approximately $43.7 billion, with a net margin of 3.0%.

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Keefe, Bruyette & Woods reiterated its Outperform rating on CBRE Group, Inc. (CBRE) on October 9, 2026, with a new price target of $164. This is a decrease from the previous target of $174. The stock is currently trading at $135.65, which is about 17.3% below the new target.

Other Institutional Activity in CBRE

Blackrock Inc. slightly reduced its holdings by 41,634 shares, ending with 27,714,625 shares worth about $3.69 billion. Vanguard Portfolio Management LLC added 36,131 shares, bringing its total to 25,843,839 shares valued at approximately $3.44 billion. Vanguard Capital Management LLC increased its stake by 85,730 shares, resulting in 19,136,858 shares worth about $2.55 billion. State Street Corporation raised its holdings by 298,551 shares, totaling 14,315,011 shares valued at roughly $1.90 billion. Principal Financial Group, Inc. also grew its position by 374,089 shares, reaching 10,244,499 shares valued at about $1.36 billion.

CBRE Group, Inc. Stock Up 0.1%

CBRE shares are currently trading at $135.65, which is significantly lower than the new price target of $164 set by Keefe, Bruyette & Woods. This price point places the stock below its target, indicating potential upside if the market aligns with analysts' expectations. CBRE's recent performance has seen it navigating the real estate sector, which is experiencing mixed conditions.

12-month forecast

$CBRE price target

CBRE Group, Inc. daily closes and this analyst's $164 target. Not advice.

Recent Earnings

CBRE reported trailing twelve-month revenue of approximately $43.7 billion and an earnings per share (EPS) of $4.37. The company achieved a revenue growth of 15.5% year-over-year and a return on equity (ROE) of 15.8%. The next earnings report is scheduled for October 22, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

B- 70/100

Reported Apr 23, 2026

Forward outlook
2 target raises vs 1 cuts.
EPS & revenue
EPS beat estimates by 39.8%. Revenue beat estimates by 1.6%.
Profit surprise
EBITDA beat by 6 percent. Operating income beat by 4 percent.
Pre-earnings setup
Bar was high, analysts already very bullish.
Analyst signal
2 target raises, 1 target cut.
Earnings quality
Gross margin down 0.9 points. Operating margin up 1.8 points. Positive free cash flow.

Earnings Call Summary

The first quarter beat expectations across the board. Data center leasing revenue more than tripled and infrastructure-related businesses generated $950 million in revenue, up from $3 billion last year. Management says corporate clients are still leasing office and warehouse space at full term lengths, and they see good opportunities ahead even as they watch macro uncertainty and track AI's impact on hiring needs.

Guidance CBRE raised its full-year profit forecast to $7.60 to $7.80 per share, up from $7.30 to $7.60 earlier. The company expects strong growth in data center and infrastructure work, and pipeline momentum remains solid in the second quarter.

Slightly positive report. The quarter was acceptable, but the forward setup is not strong.

Insider Buying and Selling at CBRE Group, Inc.

Recent insider activity includes Chief Financial Officer Emma E. Giamartino selling 2,250 shares on May 15, 2026, at an average price of $130.74, totaling about $294,165. Vikramaditya Kohli, another officer, sold 2,666 shares on July 29, 2026, at $150.00, valued at approximately $399,900. Additionally, Chad J. Doellinger sold 228 shares on August 13, 2026, at an average price of $148.29, worth around $33,810. Giamartino sold another 2,250 shares on the same day for about $333,652.

Analysts Set New Price Targets

On October 9, 2026, Keefe, Bruyette & Woods maintained its Outperform rating on CBRE with a target of $164, down from $174. Other firms like UBS and Evercore ISI Group have also maintained positive ratings, with UBS setting a target of $190 and Evercore ISI at $175. The average target across analysts stands at approximately $174.75, reflecting a consensus that remains optimistic about CBRE's prospects.

About CBRE Group, Inc.

CBRE Group, Inc. is a leading commercial real estate services and investment company. It operates in various segments, including Advisory Services, Building Operations, Project Management, and Real Estate Investments. The company serves clients in the U.S., the U.K., and internationally, making it a significant player in the real estate services industry.

Bottom Line

Investors should keep an eye on CBRE's upcoming earnings report on October 22, 2026, as it may provide further insights into the company's performance. With Keefe, Bruyette & Woods maintaining a positive outlook despite the target cut, market watchers will be keen to see how the stock reacts in the coming weeks.