The Globe and Mail reports in its Thursday edition that Eight Capital's Kiran Sritharan thinks Tribe Property Technologies' better-than-expected fourth quarter 2023 results exhibited its "execution and focus on profitability despite the constricted macro backdrop." The Globe's David Leeder writes in the Eye On Equities column that expecting, however, "the extended market weakness to continue to influence performance across developers and property managers alike," Mr. Sritharan lowered his rating for the Vancouver-based company to "neutral" from "buy." He cut his share target to $1 from $2. Analysts on average target the shares at $1.63. Mr. Sritharan says in a note: "With a slowdown in organic growth, alongside a push-out in profitability and limited access to capital, we expect Tribe's fundamentals to be challenged in the near term. Looking ahead, we think the potential for margin accretive M&A can benefit Tribe and bring profitability closer into view. If we don't see M&A activity, the Q1 report (expected by the end of May) will serve as the next catalyst to revisit our target and rating." The Globe reported on Dec. 1 that Stifel had reaffirmed its "buy" call for Tribe Property when it was worth 75 cents.