The Globe and Mail reports in its Friday, Aug. 8, edition that Scotia Capital analyst Kevin Krishnaratne is sticking with his "sector perform" call on Altus Group. The Globe's David Leeder writes in the Eye On Equities column that Mr. Krishnaratne lowered his share target to $53 from $54. Analysts on average target the shares at $58.71. Mr. Krishnaratne says in a note: "Altus Analytics (AA) reported broadly in-line recurring revenue exFX at 3.7 per cent (we were at 4.0 per cent vs. outlook range of 3 per cent to 5 per cent), but better Adj. EBITDA margins of 29.3 per cent vs. the Street's 28.7 per cent. FY25 revenue guide was lowered, reflecting uncertainty in VMS given the softer CRE backdrop, though there are some positive signs potentially on the horizon (VMS recurring bookings strong, transaction volumes stabilizing and transaction dollar volumes up). Still, we view management's approach to guidance as prudent given VMS clients remain on the sidelines and as we wait to see how adoption of the company's newer ARGUS Intelligence modules progresses (big software renewal opportunity in Q4 will provide some insight on traction with the modules and on the company's shift to asset-based pricing models)."