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No. of Recommendations: 2

Colliers International (NASDAQ: CIGI) has been on a tear since it reported second-quarter earnings. Colliers is one of the best managed companies in the portfolio, and has multi-decade opportunity under CEO and Chairman Jay Hennick. But it's somewhat cyclical and with the stock up more than 30% in about two months, we want to be just a bit more careful. Given the strong second-quarter performance and projections for the year ahead, I'm raising the Buy Around price from $43 to $44, but I'm moving the stock from Buy First to Buy.

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