The Globe and Mail reports in its Thursday, March 13, edition that RBC Dominion Securities analyst Paul Treiber has reaffirmed his "outperform" recommendation for Enghouse Systems. The Globe's David Leeder writes that Mr. Treiber cut his Street-high share target back to $38 from $40. Analysts on average target the shares at $31.67. Mr. Treiber saw Enghouse's first quarter 2025 financial report as "mixed," featuring "soft organic growth and lower profitability, given the company's ongoing transition to the cloud." Mr. Treiber says in a note: "Positively, Q1 free cash flow was solid, bringing TTM [trailing 12-month] FCF to a multi-year high. FCF powers Enghouse's capital deployment and we believe M&A is likely to ramp, given the uncertain environment and a robust M&A pipeline. ... Enghouse is trading 57 per cent below peers and 40 per cent below its 10-year average. Enghouse has a strong track record of allocating capital at high rates. ... . Our outlook continues to call for Enghouse's organic growth to improve to negative 3 per cent by FY26. ... We believe risk-reward on the shares is attractive given Enghouse's discounted valuation and our outlook for M&A to ramp over the next 12-18 months."