12:55 PM EDT, 07/25/2024 (MT Newswires) -- CBRE Group's ( CBRE ) share were up nearly 12% in recent Thursday trading after Raymond James raised price target to $124 from $122 following the firm's better-than-expected Q2 results.

The commercial real estate company reported Q2 core earnings Thursday of $0.81 per diluted share, down from $0.82 a year earlier, but well ahead of the $0.71 consensus polled by Capital IQ. Revenue rose to $8.39 billion from $7.72 billion a year earlier and beat the analysts' forecast of $8.31 billion.

CBRE ( CBRE ) also raised its outlook for full-year 2024 core earnings to a range of $4.70 to $4.90 from previous guidance of $4.25 to $4.65. Analysts polled by Capital IQ expect $4.44.

Price: 109.92, Change: +11.62, Percent Change: +11.82