The Globe and Mail reports in its Tuesday edition that Echelon Capital analyst Mike Stevens is keeping his "speculative buy" recommendation for Boardwalktech Software intact. The Globe's David Leeder writes that Mr. Steven slashed his share target by 15 cents to 85 cents. Mr. Stevens says in a note: "With macro challenges still swirling, impacting both the company's ability to convert pipeline prospects into contracted clients along with investor sentiment and appetite for unprofitable microcap growth stocks, we are trimming our PT [price target] (still implying 67 per cent of upside). With the PT trim, we are also trimming our forecasts due to what we believe will be a slower ramp in realized revenues throughout the remaining 7-plus months in Boardwalk's F2024. We are also increasing our DCF valuation's discount rate to 16 per cent (from 15 per cent) and our terminal EV/EBITDA multiple to 7.5 times (from 8.5 times) to reflect the referenced challenges, resulting in a DCF valuation of 85 cents. That being said, we look for Boardwalk to demonstrate momentum in FH224 closing deals and setting the stage for a strong FQ424 (where we forecast 46-per-cent year-over-year software subscriptions and services growth)."