12:05 PM EST, 01/20/2025 (MT Newswires) -- BMO Capital Markets on Monday reiterated its market-perform rating on the shares of Altus Group ( ASGTF ) and its C$62.00 price target following the sale of its property-tax business.

"We are making minor estimate revisions to reflect some changes to our assumptions, as well as the earlier-than-expected closing of the previously-announced sale of the Property Tax business to Ryan, LLC for $700mm (closed January 2, 2025 vs. our previous mid-H1/25E forecast). While we continue to appreciate Altus's runway for growth, we expect 2025E to be a transition year as the macro recovery plays out in CRE; expect accelerated growth 2026E.

Given the stock's valuation, we see balanced risk-reward, and maintain our Market Perform rating and $62 target price," analyst Stephen MacLeod wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 56.16, Change: +0.31, Percent Change: +0.56