08:21 AM EDT, 05/21/2024 (MT Newswires) -- TD Securities lowered its price target on Altus Group Ltd. ( ASGTF ) to $55 from $59 on Tuesday.

Analyst Danial Chan maintained a Buy rating on shares of the Toronto-based provider of asset and fund intelligence for commercial real estate.

On Friday, Altus announced the termination of the proposed acquisition of REVS.

"The termination of the REVS transaction is not detrimental to our thesis," Chan said in a note to clients.

"Altus is still the Valuation Management Solutions (VMS) leader, and is likely to benefit when CRE transaction volumes return; the REVS deal would have provided more torque," the analyst said.

"Altus may still be in a better competitive position now having taken a deeper look at REVS and with major REVS customers likely uncertain of its future."

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