Broker CB Richard Ellis Upgraded On Stock Price

NEW YORK (AP) — A Goldman Sachs analyst upgraded real estate broker CB Richard Ellis Group Inc. on Monday, saying that although he expects transactions to remain low until 2010 and continued pressure on earnings, the stock's price makes it more attractive.

In a note to investors, analyst Sloan Bohlen said he was upgrading the broker to "neutral" less than a month after downgrading it to "sell" because of the recent big drop in its share price.

CB Richard Ellis stock gained 11.8 percent, or 86 cents, Monday afternoon to $8.16. It has dropped 22 percent since Bohlen downgraded its shares on May 11, but is still up 69 percent year-to-date. ...