01:22 PM EDT, 06/04/2024 (MT Newswires) -- BMO views Colliers' proposed acquisition of Englobe positively.

According to analyst Stephen MacLeod, the acquisition would: 1) add scale to Colliers' Engineering & Project Management platform; 2) establish a material presence in the fragmented Canadian engineering services market; 3) lead to potential revenue synergies with Colliers Project Leaders in Canada; 4) contribute positively to Colliers' organic growth and tuck-in acquisition pipeline; 5) further Colliers' goal to increase the proportion of earnings coming recurring businesses.

"We estimate ~3%+ PF adj. EPS accretion and see attractive risk-reward in the stock."

Colliers is rated Outperform, with a US$140 target.

Price: 152.21, Change: +0.18, Percent Change: +0.12