Analyst Samad Samana from Jefferies maintained a Buy rating on Constellation Software and keeping the price target at C$5,850.00.
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Samad Samana has given his Buy rating due to a combination of factors including the strong management team at Constellation Software, which is expected to ensure a smooth transition following the unexpected resignation of Mark Leonard. Despite the immediate concerns surrounding Leonard’s departure for health reasons, the company’s deep bench of experienced leaders, such as the newly appointed President Mark Miller, provides confidence in continued operational stability.
Furthermore, Samana acknowledges the historical success and shareholder returns under Leonard’s leadership, which adds to the positive outlook for the company’s future performance. The timing of the announcement, although unsettling, is not seen as a long-term detriment to the stock’s potential, as the company’s strategic direction and robust management are likely to sustain its growth trajectory.
In another report released on September 23, TD Cowen also maintained a Buy rating on the stock with a C$5,700.00 price target.