FirstService Corp. (FSV.TO, FSV) was upgraded to Buy from Hold at TD Securities on Friday.
Analyst Tim James lowered his price target on shares of the Canadian real estate services company to $213 from $214.
"Recent sell-off (-20% since early September), combined with immaterial changes to forecasts and no change in thesis, has created a compelling forward valuation for a high-quality, defensive, multi-year compounder that we view as well-insulated from a challenging trade and economic environment," James said in a note to clients.
"We view the small 2025 guidance reduction as immaterial to long-term thesis," the analyst said in a note to clients. "Guidance change due to external factors as opposed to execution."
"Business represents relatively defensive and resilient investment that has not participated in recent equity market strength/valuation expansion."
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