Altus Group Buy Rating Reiterated as Fundamentals Improve and $55 Price Target Remains Unchanged

Analyst John Shao of TD Cowen maintained a Buy rating on Altus Group , retaining the price target of C$55.00.

John Shao has given his Buy rating due to a combination of factors that underline Altus Group’s improving fundamentals and execution trajectory. He highlights that software and VMS remain the primary growth engines, with Argus Intelligence expected to drive the bulk of incremental expansion through both higher volumes and enhanced pricing, while ongoing disposal of non-core operations clarifies the company’s focus and supports cleaner, more sustainable growth metrics.

John Shao’s rating is based on Altus Group’s strong cash generation, ample balance sheet capacity for shareholder returns, and management’s upwardly revised 2026 guidance, which points to accelerating revenue and EBITDA expansion supported by a predominantly recurring revenue base. He further notes that early traction from new offerings like Argus Assist and the planned U.S. cross-listing in 2027 should enhance the company’s growth profile and market visibility, reinforcing the unchanged $55 price target and justifying a Buy recommendation.

AIF’s price has also changed slightly for the past six months – from C$47.180 to C$44.860, which is a -4.92% drop .