07:58 AM EDT, 05/14/2026 (MT Newswires) -- RBC Capital Markets lowered its price target on Constellation Software Inc. (CSU.TO) to $4,500 from $4,800.

Analyst Paul Treiber maintained an Outperform rating on shares of the Canadian software company following its Q1 results.

"Constellation's YTD M&A implies 2026 is tracking to a new annual high,"Treiber said in a note to clients. "Strong M&A stems from the scalability of Constellation's decentralized model."

"Due to the higher pace of acquisitions, we are increasing financial estimates,"the analyst said. "Sequentially stable organic growth helps diminish AI headwind concerns."

Treiber said his target price reduction is due to "continued decline in software peer valuations."

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