Zacks senior real estate investment trust [REIT] analyst Greg Sukenik reiterates his Buy recommendation on Jones Lang LaSalle (JLL) shares. Here's what his latest research report had to say about it:

"JLL had an excellent quarter again, and surpassed our estimates. In response, we are raising our full year EPS [earnings per share] and EBITDA [earnings before interest, taxes, depreciation and amortization] estimates.

"Given the growing demand for commercial real estate worldwide, we anticipate increasing demand for Jones Lang's services, particularly in leasing and management. Overall margins showed improvement during the quarter. We believe the company's investment management division will continue to see higher fund inflows, which will drive recurring advisory and incentive fees.

"Despite a high valuation and multi-year share price increase, we think 2007 will be another good year, and look for 15%+ EPS growth. We also expect real estate valuations to remain high as fundamentals are improving for most property types. In particular, we are still bullish on JLL; the company has low debt, produce plenty of cash, and can usually dominate local markets. JLL also has a worldwide footprint unrivaled by competitors. Recent new hires will negatively affect near-term earnings, although the company is setting itself up for future growth."

Read the full analyst report on JLL