The Globe and Mail reports in its Friday edition that Stifel analyst Suthan Sukumar has reaffirmed his "buy" recommendation for Tribe Property Technologies. The Globe's David Leeder writes that Mr. Sukumar gave his share target a 75-cent trim to $3.25. Analysts on average target the shares at $2.52. Mr. Sukumar says in a note: "Tribe Property Technologies reported a generally in-line FQ3 print, reflecting continued healthy go-to-market momentum across both new construction activity and competitive displacements in existing communities, offset slightly by ongoing pruning of low-margin business to drive a higher quality revenue mix. We believe this underscores strong execution and demand for Tribe's differentiated technology in digitizing and automating the full end-to-end building life cycle and property management workflow, a value proposition that we believe is increasingly more valuable in the current macro backdrop given potential to unlock greater operating efficiencies. While we continue to see an outlook for stronger and more profitable organic growth, we note that M&A remains a key catalyst and an expanding pipeline with a bolstered nationwide presence. ... We see an attractive risk-reward on shares."
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