The Globe and Mail reports in its Tuesday edition that Canaccord analyst Yuri Lynk is sticking with his "buy" recommendation for Altus Group. The Globe's David Leeder writes that Mr. Lynk trimmed his Street-high share target to $59 from $63. Analysts on average target the shares at $51.61. Mr. Lynk says in a note: "We see a compelling reward-to-risk proposition afforded by Altus, one of our top picks for 2024. We are reiterating our 'buy' rating while trimming our target price on a more conservative recurring revenue growth forecast in Analytics. Altus shares have declined 20 per cent over the last year, materially underperforming the S&P/TSX Information Technology Index's 42-per-cent increase. The shares reflect significant challenges in the commercial real estate (CRE) macroeconomic outlook and the perception amongst some investors that Altus's pending acquisition of REVS for $310-million is ill-timed. In this note we argue (1) Altus's revenue model is robust allowing it to grow despite CRE headwinds and (2) Altus has the ability to rapidly deleverage following the REVS acquisition." The Globe reported on Nov. 10 and Jan. 26 that National Bank rated Altus "sector perform." It was then worth $38.25 and $45.15.