TD Securities raised its price target on FirstService Corp. (FSV.TO) to $214 from $211 on Thursday.

Analyst Tim James maintained a Hold rating on shares of the Canadian real estate services company.

"Our estimate of equity value for FirstService in 12-months continues to move steadily higher, though corresponding share price strength leaves us with an expected return that still requires a Hold," James said in a note to clients.

"We view the business very positively on many fronts, in particular the relatively resilient business lines and long-term M&A potential," the analyst said.

"The current uncertain environment increases the relative appeal its resilient business model, but recommend investors wait for a lower forward valuation multiple entry point."

(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)