TD Securities lowered its price target on FirstService Corp. (FSV.TO, FSV) to US$197 from US$199 on Wednesday.

Analyst Tim James maintained a Hold rating on shares of the Toronto-based property services company.

"We are adjusting our target slightly to reflect the implementation of full Q4 financial disclosure in our model," James said in a note to clients.

"The impact is immaterial to our view that 2025 is set to be another strong year of growth, stability, and M&A, though the return to target remains slightly below the threshold required for a Buy recommendation," the analyst said.

"Slight drop in target should NOT be viewed as change in any company specific factors," James said. "We recommend investors wait for a lower entry point to invest in a strong, tariff and economically resistant M&A story with a strong track record."

(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)