01:00 PM EDT, 05/13/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We drop our target price to CAD3,938 from CAD4,056, on a P/E of 35x our next-12-month EPS view of $82.22, on lower market multiples from economic headwinds but above its three-year average, converted to CAD. We decrease our 2024 EPS forecast to $78.49 from $79.22 and trim our 2025 EPS projection to $94.10 from $94.75. CSU posted Q1 revenue of $2.35B, missing consensus estimates by $12.6M, while non-GAAP EPS of $15.67 was a miss of $0.73. Revenue decelerated 11.5 percentage points in Mar-Q 2024 from the same quarter of 2023, driven by more difficult comparisons and lower contributions from acquisitions. Organic growth, however, accelerated to 4%, up from 2% in Q1 2023. Expenses increased 20% Y/Y but fell 200 bps as a percentage of total revenue, from higher growth in staff and travel, telecommunications, supplies, and software expenses. FX had a negative impact on expenses, adding to the increase by 1%. Q1 2024 net margin improved to 3.1% versus -4.3% in the same period of the prior year.