The Globe and Mail reports in its Friday, Sept. 5, edition that TD Cowen analyst Tim James has reaffirmed his "hold" recommendation for FirstService. The Globe's David Leeder writes that Mr. James hiked his share target to $214 from $211 (all figures U.S.). Analysts on average target the shares at $216.33. Mr. James says in a note: "We view the business very positively on many fronts, in particular the relatively resilient business lines and long-term M&A potential. The current uncertain environment increases the relative appeal of its resilient business model, but recommend investors wait for a lower forward valuation multiple entry point. ... FirstService reported strong Q2 results on July 24, with adj. EBITDA and adj. EPS ahead of forecast (7 per cent and 20 per cent greater-than-forecast). We were encouraged to see organic growth rebound vs. Q1 (up 1.9 per cent year-over-year in Q2 vs. up 0.1 per cent in Q1). Management believes recent brands segment margin is sustainable, albeit likely to represent slowing y/y expansion through the balance of 2025. FirstService Residential adj. EBITDA was in-line. Organic growth (3 per cent vs. TD Cowen: 3 per cent) still affected by community budget pressure."