The Globe and Mail reports in its Tuesday, Aug. 13, edition that Scotia Capital analyst Kevin Krishnaratne has reaffirmed his "sector perform" recommendation for Altus Group. The Globe's David Leeder writes in the Eye On Equities column that Mr. Krishnaratne slashed his share target by $8 to $63. Analysts on average target the shares at $55.44. Mr. Krishnaratne says in a note: "Our lowered target multiple acknowledges some uncertainty in the timing of some of this rebound -- we continue to believe it is more a matter of when, not if, a recovery will resume given prior period bookings. Shares have performed well YTD (approximately 30 per cent), with the stock in our view benefitting from several events including the termination of the company's deal for REVS (which would have increased leverage), the announcement of its decision to sell its property tax business for cash proceeds [of] $600-million, and the prospect of interest rate cuts (positive for Canadian real estate transactions). Given the push out of expectations of a more meaningful recovery in CRE activity more into 2025, we see shares pressured near-term and continue to remain 'sector perform' rated until clearer signs of a recovery are more evident."