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Altus Group Ltd
Symbol AIF
Shares Issued 45,894,618
Close 2023-08-15 C$ 49.36
Market Cap C$ 2,265,358,344
Recent Sedar Documents

Globe says Altus Group raised to "sector outperform"

2023-08-15 08:31 ET - In the News

The Globe and Mail reports in its Tuesday, Aug. 15, edition that Scotia Capital analyst Kevin Krishnaratne has elevated his recommendation for Altus Group to "sector outperform" from "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Krishnaratne gave his share target a hefty boost to $66 from $59. Analysts on average target the shares at $65.11. Mr. Krishnaratne says in a note: "Our upgrade follows on the 30-per-cent quarter-over-quarter rebound in recurring analytics bookings in Q2 which signaled strength across multiple areas including software/cloud, data/analytics, and, importantly, VMS (Valuation Management Solutions), the latter which showed a pause in activity in Q1 on regional banking issues. Recall how in Q1, management reiterated its view that the company is poised to benefit from CRE volatility given its position as the de facto source of truth for related valuations and transactions, and that the pause in bookings in the quarter was temporary. This now does appear to be the case, and we see many ways for the analytics division to continue to deliver double-digit recurring revenue growth at a strong margin profile (was 23.8 per cent in Q2)."

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