The Globe and Mail reports in its Wednesday edition that Canaccord analyst Robert Young has reaffirmed his "hold" call for Computer Modelling. The Globe's David Leeder writes that Mr. Young sweetened his share target by 50 cents to $10.50. Analysts on average target the shares at $9.70. Mr. Young says in a note: "We are raising our target price on Computer Modelling following what was one of Computer Modelling's strongest quarters in recent memory. Headline numbers were well ahead on another robust 12-per-cent normalized year-over-year growth in recurring SaaS revenues, or 19 per cent year-over-year as reported, benefitting from positive FX movements. With Bluware in the fold for just a few days in the quarter, the true impact will be seen in the quarters ahead, and we are cognizant of renewals during a period of heightened consolidation among energy producers. On the back of the results, we are increasing our forecasts and our target price. We recently moved Computer Modelling to a more neutral 'hold' rating given a strong run in its shares in recent months. While we believe sentiment will remain positive on the heels of this quarter, we see the valuation, at 17.7 times NTM [next 12-month] EBITDA as fair."