The Globe and Mail reports in its Friday edition that Desjardins analyst Gary Ho has reaffirmed his "hold" recommendation for Boyd Group Services. The Globe's David Leeder writes that Mr. Ho gave his share target a $10 trim to $310. Analysts on average target the shares at $320.14. Boyd Group recently provided a forecast for its first quarter of fiscal 2024 that was weaker than expected by the analysts. The company attributed this to a financial burden caused by the higher greenfield/brownfield location adds in the fourth quarter, which would eventually lead to better return on invested capital compared with M&A. Additionally, Boyd Group mentioned that the winter season was milder than usual, which also weighed on the performance. However, Mr. Ho believes that these challenges are likely to be temporary. Despite the short-term hurdles, he still maintains a positive outlook for Boyd Group's future performance. Mr. Ho says in a note, "While we remain constructive longer-term, we note that (1) SSSG is likely to revert to historical levels following a period of elevated pandemic-related growth; (2) wage pressure persists with a tight U.S. labour market (margin headwind); and (3) Boyd is fairly valued, in our view."