Altus Group , the Real Estate sector company, was revisited by a Wall Street analyst yesterday. Analyst John Shao from TD Cowen maintained a Buy rating on the stock and has a C$55.00 price target.
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John Shao has given his Buy rating due to a combination of factors that highlight Altus Group’s resilient growth and improving quality of earnings. He expects 2026 revenue to be driven mainly by the company’s software segment, particularly ARGUS Intelligence, which is projected to sustain double-digit growth and strong retention even without a commercial real estate market rebound, creating potential upside if transaction volumes recover.
He also forecasts meaningful EBITDA margin expansion through 2026, supported by restructuring, portfolio streamlining, and operating leverage, moving margins from the high teens toward the high 20s. In addition, robust free cash flow and a sizable authorized capital return program, including substantial buybacks, underpin his view that shareholder returns will be attractive, reinforcing the justification for a Buy recommendation despite a reduced target price that reflects sector-wide multiple compression.