The Globe and Mail reports in its Wednesday, Sept. 16, edition that Canaccord's Robert Young has lowered his recommendation for Evertz Technologies to "hold" from "buy." The Globe's David Leeder writes that Mr. Young gave his share target a $3 trim to $15. Analysts on average target the shares at $17.75. Mr. Young says in a note: "Evertz reported a mixed FQ1/27, with revenue in line with consensus but profitability below expectations on lower gross margins and higher operating expenses. Top-line growth remained modest at 5.5 per cent year-over-year, driven by software and services (up 14 per cent year-over-year to 50 per cent of sales) and international revenue (up 17 per cent YoY), while hardware revenue declined slightly. Backlog increased 9 per cent quarter-over-quarter to $259-million with particularly strong government/defense order intake in August. That said, the August shipment figure of $30-million is an $11-million drop year-over-year and suggests FQ2 will be weaker than our previous view and that growth will likely turn negative. While conceding uncertainty, management expects the impact from recently increased U.S. tariffs to be manageable and reiterated the long-held 56 to 60 per cent GM target range."