Constellation Software price target lowered to C$3,500 from C$4,500 at Jefferies

Jefferies lowered the firm’s price target on Constellation Software (CNSWF) to C$3,500 from C$4,500 and keeps a Buy rating on the shares. Q4 results beat on total revenue and were in-line on operating margin, as revenue grew 2% year-over-year on a constant-currency organic basis, the analyst tells investors in a research note. The firm added that it sees the results as an encouraging touchpoint but also believes investor concerns on AI disruption and M&A execution will likely persist.