The Globe and Mail reports in its Thursday, Dec. 18, edition that RBC Dominion Securities analyst Paul Treiber is maintaining his "sector perform" recommendation for Enghouse Systems. The Globe's David Leeder writes in the Eye On Equities column that Mr. Treiber lowered his share target to $22, matching the consensus. from $24. Mr. Treiber says in a note: "Organic growth remains negative. We estimate constant currency organic growth was negative 11 per cent Q4, which is slightly above the negative 12 per cent in our model and negative 12 per cent last quarter. However, the upside reflects non-core hardware revenue, which is likely not sustainable. Excluding higher hardware revenue, organic growth would have been negative 13 per cent. Headwinds to organic growth remain similar to the last several quarters and include macro delaying deals and reduced licence and maintenance revenue. Following Q4, our organic growth estimates move to negative 9 per cent FY26 and negative 5 per cent FY27, down from negative 5 per cent and negative 3 per cent previously. ... Enghouse is setting up professional services groups to consult and help customers deploy AI solution."