The Globe and Mail reports in its Wednesday, Sept. 9, edition that TD Cowen analyst David Kwan believes Enghouse Systems' outlook "remains challenged by macro pressures and AI-related uncertainty" ahead of the release of its third quarter results on Thursday. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kwan has reiterated his "hold" recommendation and $16 share target for Enghouse Systems. Analysts on average target the shares at $17. Mr. Kwan says in a note: "Our Q3 forecasts assume another double-digit year-over-year organic decline, given ongoing macroeconomic and competitive headwinds. The slowdown in M&A has further contributed to the slowdown in overall growth. With the stock and valuation at multiyear lows and it facing a tougher M&A environment, Enghouse Systems ramped up share buyback activity this quarter, which could continue in the near term/medium term." Mr. Kwan is projecting revenue for the Markham, Ont.-based software and services company of $114.1-million, implying a 9-per-cent year-over-year and a "continued deterioration in growth" as the second quarter saw an 8-per-cent decline. Mr. Kwan says he remains "cautious on the outlook" for Enghouse.