The Globe and Mail reports in its Tuesday edition that following "solid" in-line fourth quarter financial results, Constellation Software remains "a solid acquisition growth compounder" with a "healthy pipeline of 40K+ targets and attractive defensive attributes (strong FCF generation)," says National Bank Financial analyst Richard Tse. The Globe's David Leeder writes that Mr. Tse elevated his share target to $5,500 from $5,000. Analysts on average target the shares at $5,200. Mr. Tse says in a note: "We'd note the bulk of adjusted EPS upside came from FX tailwinds associated with certain non-USD liability revaluations. With respect to the key KPI of capital deployment, Constellation deployed $620-million (up 34 per cent year-over-year) in the quarter (inclusive of acquired cash and deferred payments) bringing the year's total capital deployed to $1.8-billion (down 31 per cent year-over-year), representing 78 per cent of our $2.3-billion FY24 estimate. Despite the shortfall in capital deployment in FY24 relative to our expectations, a potentially increasing attractive valuation environment under macro volatility should broaden out Constellation's opportunities for its $3.1-billion in liquidity and low leverage."