Canadian Analyst Ratings
ARC Resources Ltd. (ARX:CA)
Scotiabank upgraded its target price for ARC Resources to CAD 38, up from the previous level, while maintaining an Outperform rating. This implies an upside of approximately 15.05% from the average target price of CAD 33.54.
Bank of Montreal (BMO:CA)
CIBC World Markets raised its target price for Bank of Montreal to CAD 150. While the firm did not change its rating, the new target represents a modest upside of 2.39% based on the average target price of CAD 147.18.
Bank of Nova Scotia (BNS:CA)
CIBC World Markets increased its target price for Bank of Nova Scotia to CAD 77. No rating adjustment was mentioned. The new target suggests an 8.99% upside based on the average price target of CAD 78.44.
Bird Construction Inc. (BDT:CA)
Both TD Securities and CIBC World Markets raised their target prices for Bird Construction. TD Securities reaffirmed its Buy rating with a target of CAD 31, while CIBC increased its target to CAD 31.5. The consensus implies a significant upside of about 29.20% from the average target price of CAD 32.70.
BRP Inc. (DOO:CA)
TD Securities maintained its Hold rating on BRP Inc. while keeping the target price steady at CAD 65. Despite the neutral stance, the average price target of CAD 73.03 suggests a potential upside of nearly 40%.
Canadian National Railway Co. (CNR:CA)
CIBC World Markets downgraded its target price for CNR to CAD 146 from a higher level and maintained a Neutral rating. This still leaves a slight upside of 3.97% from the average target of CAD 156.99.
Canadian Pacific Railway Ltd. (CP:CA)
CIBC World Markets reiterated its Outperform rating but lowered the target price for Canadian Pacific to CAD 119. The average target price of CAD 117.64 indicates a potential gain of 3.19%.
EQB Inc. (EQB:CA)
CIBC World Markets raised its target price for EQB Inc. to CAD 126, suggesting a strong bullish sentiment with a notable 26.86% upside from the average price target of CAD 123.05.
HudBay Minerals Inc. (HBM:CA)
Bank of America Merrill Lynch reiterated a Buy rating on HudBay Minerals and updated its target price to CAD 9.5. The average target price of CAD 14.58 signals a significant 28.54% upside.
InterRent REIT (IIP-UN:CA)
RBC Capital Markets reaffirmed its Buy rating and raised the target price to CAD 14.5. The average target price of CAD 12.92 indicates a potential gain of about 11.02%.
Laurentian Bank of Canada (LB:CA)
CIBC World Markets reduced its target price for Laurentian Bank to CAD 29, suggesting limited upside of just 3.71% based on the average target of CAD 28.80.
Magna International Inc. (MG:CA)
Barclays issued a Hold rating and updated its target price for Magna to CAD 55. Despite the cautious stance, the average price target of CAD 62.75 implies a notable 22.37% upside.
Mattr Corp (MATR:CA)
TD Securities reiterated a Hold rating on Mattr Corp while lowering the target price to CAD 11. The average price target of CAD 15.31 still points to an impressive 53.23% upside.
Mullen Group Ltd. (MTL:CA)
CIBC World Markets cut its target for Mullen Group to CAD 15 while maintaining an Outperform rating. The average target price of CAD 17.36 represents a potential gain of 21.39%.
National Bank of Canada (NA:CA)
CIBC World Markets increased its target price to CAD 125 for National Bank. The new target is slightly lower than the average price target of CAD 134.03, which implies a modest 4.22% upside.
Nexus REIT (NXR-UN:CA)
TD Securities maintained a Hold rating for Nexus REIT and kept the target price at CAD 7. The average target price of CAD 8.16 suggests an upside of 10.56%.
North American Construction Group Ltd. (NOA:CA)
CIBC World Markets lowered the target for North American Construction Group to CAD 36 but retained an Outperform rating. Despite the cut, the average target of CAD 35.47 implies a strong 47.18% upside.
Ritchie Bros Auctioneers (RBA:CA)
Barrington Research reiterated a Buy rating on Ritchie Bros and raised its target to CAD 125. However, this represents a notable downside of 28.47% from the average price target of CAD 108.28, suggesting analyst caution despite the positive rating.
Royal Bank of Canada (RY:CA)
CIBC World Markets increased its target price for Royal Bank to CAD 174. The average price target of CAD 181.38 suggests a minor upside of 3.15%.
Strathcona Resources Ltd. (SCR:CA)
RBC raised its target price for Strathcona Resources to CAD 36. The average price target of CAD 34.47 represents an upside potential of about 13.90%.
Superior Plus Corp (SPB:CA)
Scotia Capital upgraded its target price for Superior Plus to CAD 10 while maintaining an Outperform rating. The average target price of CAD 9.42 implies a solid 21.04% upside.
TD Bank (TD:CA)
CIBC World Markets lowered its target price for TD Bank to CAD 94, which is slightly higher than the average target of CAD 88.33, suggesting a marginal downside of -1.67%.
TFI International Inc. (TFII:CA)
CIBC World Markets maintained an Outperform rating while reducing the target price for TFI International to CAD 153. The average target of CAD 177.73 still points to an impressive upside of 40.78%.
Westshore Terminals Investment Corp (WTE:CA)
RBC upgraded Westshore Terminals to Outperform from Sector Perform and raised the target price to CAD 30, following regulatory approval for the Grassy Mountain Coal Project. The new target suggests an upside of 19.88% from the average price target of CAD 27.50.
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