Stephen Macleod, an analyst from BMO Capital, maintained the Hold rating on Altus Group . The associated price target remains the same with C$62.00.
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Stephen Macleod has given his Hold rating due to a combination of factors influencing Altus Group’s stock performance. The company is reportedly exploring a sale process, which could serve as a catalyst to close the valuation gap with its data and software peers. Despite this potential positive development, the stock has remained relatively stable over the past few years, even as the company’s Analytics EBITDA is projected to increase significantly by 2025. This suggests that the market may be cautious about the company’s growth prospects in the absence of a sale.
Altus Group’s current valuation reflects a discount compared to its data and software peers but trades at a premium relative to CRE and other professional services peers. While the company has shown promising growth in its Analytics business, particularly with the ARGUS software, the overall market performance and valuation dynamics suggest a balanced risk-reward scenario. Therefore, Macleod maintains a Hold rating, reflecting a cautious yet optimistic outlook for Altus Group’s future growth potential.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a C$56.00 price target.
AIF’s price has also changed slightly for the past six months – from C$56.760 to C$58.160, which is a 2.47% increase.