Canadian Analyst Updates: Nov 5th, 2025

Thomson Reuters (TRI:CA) National Bank Cuts Valuation Forecast

Analyst Ratings (Canada)

The following are today’s 90 latest analyst ratings tracked from muliple analysts for Canadian listed and traded stocks:

5N Plus Inc. (VNP:CA): Raymond James raised its target price to $26.00.

Air Canada (AC:CA): Scotiabank maintained an Outperform rating with a $26.00 target.

ATS Corporation (ATD:CA): TD Securities maintained a Buy rating with a $46.00 target.

Aurora Cannabis (ACB:CA): TD Securities maintained a Buy rating with a $10.00 target.

Aya Gold & Silver Inc. (AYA:CA): Scotiabank maintained an Outperform rating with a $19.00 target.

Boardwalk REIT (BEI-UN:CA): Scotiabank maintained a Sector Perform rating with an $81.00 target.

Boyd Group Services Inc. (BYD:CA): RBC Capital raised its target price to $291.00.

Boyd Group Services Inc. (BYD:CA): CIBC World Markets raised its target price to $280.00.

Boyd Group Services Inc. (BYD:CA): TD Securities raised its target price to $290.00 from $280.00 and maintained a Buy rating.

Brookfield Renewable Partners L.P. (BEP-UN:CA): TD Securities maintained a Buy rating with a $49.00 target.

Cameco Corp. (CCO:CA): TD Securities maintained a Buy rating with a $142.00 target.

Canada Packers Inc. (CPKR:CA): TD Securities maintained a Buy rating with a $20.00 target.

Cargojet Inc. (CJT:CA): TD Securities maintained a Buy rating with a $160.00 target.

CGI Inc. (GIB-A:CA): TD Securities maintained a Buy rating with a $145.00 target.

Colliers International Group Inc. (CIGI:CA): Scotiabank maintained an Outperform rating with a $261.00 target.

CT REIT (CRT-UN:CA): TD Securities raised its target price to $16.50 from $16.00 and maintained a Hold rating.

Dexterra Group Inc. (DXT:CA): Scotiabank maintained a Sector Perform rating with an $11.50 target.

Dream Industrial REIT (DIR-UN:CA): Scotiabank maintained an Outperform rating with a $14.50 target.

Ero Copper Corp. (ERO:CA): Scotiabank maintained a Sector Perform rating with a $33.00 target.

First Capital REIT (FCR-UN:CA): Scotiabank maintained a Sector Perform rating with a $20.00 target.

First Majestic Silver Corp. (AG:CA): TD Securities maintained a Buy rating with a $22.00 target.

FirstService Corp. (FSV:CA): TD Securities lowered its target price to $211.00 from $213.00 and maintained a Buy rating.

Fortis Inc. (FTS:CA): RBC Capital raised its target price to $79.00.

Fortis Inc. (FTS:CA): CIBC World Markets raised its target price to $75.00.

Fortis Inc. (FTS:CA): BMO Capital Markets raised its target price to $74.00.

Fortis Inc. (FTS:CA): TD Securities raised its target price to $79.00 from $77.00 and maintained a Buy rating.

Fortis Inc. (FTS:CA): Scotiabank raised its target price to $74.00 and maintained a Sector Perform rating.

Franco-Nevada Corp. (FNV:CA): TD Securities lowered its target price to $349.00 from $360.00 and maintained a Hold rating.

Gibson Energy Inc. (GEI:CA): CIBC World Markets lowered its target price to $26.00.

iA Financial Corporation Inc. (IAG:CA): TD Securities raised its target price to $178.00 from $175.00 and maintained a Buy rating.

iA Financial Corporation Inc. (IAG:CA): Scotiabank maintained an Outperform rating with a $159.00 target.

IAMGOLD Corporation (IMG:CA): Scotiabank maintained a Sector Perform rating with a $21.00 target.

Intact Financial Corp. (IFC:CA): Barclays Capital raised its target price to $318.00.

Intact Financial Corp. (IFC:CA): TD Securities maintained a Buy rating with a $346.00 target.

Intact Financial Corp. (IFC:CA): Scotiabank maintained an Outperform rating with a $318.00 target.

Kinross Gold Corp. (K:CA): Scotiabank maintained an Outperform rating with a $45.00 target.

Lithium Royalty Corp. (LIRC:CA): Citigroup raised its target price to $8.50.

Maple Leaf Foods Inc. (MFI:CA): TD Securities maintained a Buy rating with a $43.00 target.

Minto Apartment REIT (MI-UN:CA): Scotiabank maintained a Sector Perform rating with a $15.25 target.

NuVista Energy Ltd. (NVA:CA): Scotiabank lowered its target price to $18.00.

NuVista Energy Ltd. (NVA:CA): TD Securities downgraded the stock to Sell with an $18.04 target.

Paramount Resources Ltd. (POU:CA): Raymond James raised its target price to $25.00.

Paramount Resources Ltd. (POU:CA): Scotiabank maintained an Outperform rating with a $29.00 target.

Pembina Pipeline Corp. (PPL:CA): TD Securities maintained a Buy rating with a $66.00 target.

Pet Valu Holdings Ltd. (PET:CA): Barclays Capital lowered its target price to $34.00.

Pet Valu Holdings Ltd. (PET:CA): Stifel Nicolaus lowered its target price to $37.00.

Pet Valu Holdings Ltd. (PET:CA): RBC Capital lowered its target price to $40.00.

Pet Valu Holdings Ltd. (PET:CA): CIBC World Markets lowered its target price to $36.00.

Pet Valu Holdings Ltd. (PET:CA): TD Securities lowered its target price to $40.00 and maintained a Buy rating.

Power Corp. of Canada (POW:CA): TD Securities raised its target price to $69.00 and maintained a Buy rating.

Propel Holdings Inc. (PRL:CA): Scotiabank lowered its target price to $38.00.

Propel Holdings Inc. (PRL:CA): Raymond James lowered its target price to $35.00.

Shopify Inc. (SHOP:CA): ATB Capital raised its target price to $250.00.

Shopify Inc. (SHOP:CA): TD Securities raised its target price to $224.00 from $220.00 and maintained a Hold rating.

Shopify Inc. (SHOP:CA): Scotiabank raised its target price to $233.00 and maintained a Sector Perform rating.

Spartan Delta Corp. (SDE:CA): TD Securities raised its target price to $7.50 from $7.00 and maintained a Buy rating.

Spartan Delta Corp. (SDE:CA): Scotiabank maintained an Outperform rating with an $8.00 target.

Sprott Inc. (SII:CA): TD Securities maintained a Hold rating with a $125.00 target.

SSR Mining Inc. (SSRM:CA): Scotiabank maintained an Outperform rating with a $39.00 target.

Stella-Jones Inc. (SJ:CA): TD Securities maintained a Buy rating with a $90.00 target.

Suncor Energy Inc. (SU:CA): UBS raised its target price to $65.00.

Suncor Energy Inc. (SU:CA): TD Securities raised its target price to $71.00 from $67.00 and maintained a Buy rating.

Suncor Energy Inc. (SU:CA): Scotiabank maintained a Sector Perform rating with a $62.00 target.

Thomson Reuters Corp. (TRI:CA): TD Securities maintained a Buy rating with a $285.00 target.

Thomson Reuters Corp. (TRI:CA): Scotiabank maintained an Outperform rating with a $266.00 target.

Topicus.com Inc. (TOI:CA): RBC Capital lowered its target price to $190.00.

Topicus.com Inc. (TOI:CA): TD Securities lowered its target price to $201.00 from $209.00 and maintained a Buy rating.

Triple Flag Precious Metals Corp. (TFPM:CA): BMO Capital Markets raised its target price to $45.00.

Wajax Corp. (WJX:CA): Scotiabank raised its target price to $27.00.

Wajax Corp. (WJX:CA): BMO Capital Markets raised its target price to $27.00.

Wajax Corp. (WJX:CA): TD Securities maintained a Hold rating ans $25.00 target price.

Wajax Corp. (WJX:CA): Scotiabank lowered its target price to $27.00 and maintained a Sector Perform rating.

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