Canadian Analyst Updates: Nov 11th, 2025

Analyst Ratings (Canada)

The following are today’s 53 latest analyst ratings tracked from multiple analysts for Canadian listed and traded stocks for Tuesday November 11th, 2025:

Adentra Inc (ADEN:CA): Raymond James raised its target price to $46.00 from $43.00.  CIBC World Markets also increased its target to $42.00 from $41.00.
Scotiabank raised its target to $41.00 and later to $42.00, maintaining an Outperform rating. The target upgrades are based on solid growth momentum, improving fundamentals and continued operational strength.

ATCO Ltd. (ACO-X:CA): TD Securities raised its target price to $57.00 from $55.00 while maintaining a Hold rating, highlighting steady earnings and infrastructure progress.

Aya Gold & Silver Inc. (AYA:CA): Scotiabank maintained an Outperform rating with a target price of $25.00, supported by strong production trends and robust silver prices.

B2Gold Corp (BTO:CA): Stifel Nicolaus lowered its target price to $10.50 from $11.50, reflecting weaker gold margins despite stable output.

Barrick Mining (ABX:CA): Cormark Securities upgraded the stock to Buy reflecting stronger gold price leverage and operational consistency.

BSR REIT (HOM-U:CA): Scotiabank cut its target to $14.50 while maintaining an Outperform rating, citing elevated financing costs and a cautious real estate outlook.

Canadian National Railway Co. (CNR:CA): Berenberg raised its target price to $152.00 from $148.00, reflecting confidence in freight recovery and strong operational efficiency.

Canadian Pacific Kansas City (CP:CA): Bernstein lowered its target to $114.00 from $121.00, noting near-term integration costs following the CP-Kansas City merger.

Canadian Utilities Ltd. (CU:CA): TD Securities increased its target price to $41.00 from $40.00 and maintained a Hold rating, reflecting stable regulated earnings and improved transparency on capital projects.

CAPREIT (CAR-UN:CA): Scotiabank reduced its target to $45.00 from $47.50 amid rising funding costs but maintained a Sector Perform rating.

Chartwell Retirement Residences (CSH-UN:CA): CIBC World Markets raised its target price to $22.00 from $21.00, highlighting improved occupancy rates and steady margin recovery in the senior housing segment.

Choice Properties REIT (CHP-UN:CA): Scotiabank maintained an Outperform rating with a $16.00 target, reflecting defensive cash flow and a solid retail portfolio.

Chorus Aviation Inc. (CHR:CA): Scotiabank maintained an Outperform rating with a $32.00 target, reflecting steady cash flow from its Air Canada partnership and growth in the Voyageur business.

Coeur Mining (CDE:CA): TD Securities raised its target price to $35.00 from $32.00 and reiterated a Buy rating, pointing to improved production forecasts and rising gold and silver prices.

Computer Modelling Group Ltd. (CMG:CA): Scotiabank maintained a Neutral rating with a $6.50 target, reflecting balanced valuation amid moderate software demand growth.

Docebo Inc. (DCBO:CA): Scotiabank cut its target price to $49.00 while maintaining an Outperform rating, reflecting slightly softer enterprise demand despite long-term growth tailwinds.

Dream Office REIT (D-UN:CA): CIBC World Markets lifted its target price to $18.50 from $17.50, highlighting improving leasing activity and a recovery in office fundamentals.

European Residential REIT (ERE-UN:CA): TD Securities maintained a Hold rating with a $1.25 target, reflecting steady occupancy but limited upside amid a potential portfolio wind-down.

Granite REIT (GRT-UN:CA): RBC Capital Markets raised its target to $90.00 from $88.00, reflecting consistent industrial demand and a high-quality asset base.

HEALWELL AI Inc. (AIDX:CA): Scotiabank maintained an Outperform rating with a $2.50 target, reflecting promising healthcare AI adoption and revenue acceleration.

illumin Holdings Inc. (ILLM:CA): TD Securities cut its target to $1.50 from $3.00 but maintained a Buy rating, expecting revenue growth in 2026 despite near-term softness.

Interfor Corp (IFP:CA): CIBC World Markets reduced its target price to $9.00 from $10.00 reflecting to lower lumber prices and a more challenging demand backdrop.

K92 Mining Inc. (KNT:CA): Scotiabank maintained an Outperform rating with a $20.50 target, reflecting strong production guidance and high-grade resource expansion potential.

MEG Energy Corp. (MEG:CA): Scotiabank maintained an Outperform rating with a $30.00 target, supported by robust free cash flow and capital discipline.

MetalQuest Mining Inc. (MQM:CA): Fundamental Research set a target price of $0.92 with a Buy rating, relecting exploration upside and improving financial position.

Monument Mining Limited (MMY:CA): Fundamental Research maintained a Buy rating with a $1.50 target, supported by advancing projects and favorable gold pricing.

New Age Metals Inc. (NAM:CA): Fundamental Research maintained a Buy rating with a $0.95 target, reflecting strategic metals exposure and long-term project development.

Northview Residential REIT (NRRUN:CA): TD Securities maintained a Hold rating with an $18.00 target, reflecting stable performance but limited growth potential.

Osisko Gold Royalties Ltd. (OR:CA): Scotiabank maintained an Outperform rating with an $86.00 target, driven by solid production royalties and balance sheet strength.

Parkit Enterprises (PKT:CA): Scotiabank lowered its target to $0.70 and maintained a Sector Perform rating, reflecting cautious sentiment on real estate activity.

Premium Brands Holdings Corp. (PBH:CA): TD Securities maintained a Buy rating with a $145.00 target.  Stifel Nicolaus raised its target to $106.00 from $101.00.  Scotiabank lowered its target to $99.00 from $103.00, maintaining a Sector Perform rating.  BMO Capital Markets increased its target to $111.00 from $109.00.  The basis of the coverage updates rests on margin recovery optimism, improving margins, volume growth and stronger-than-expected profitability.

Quebecor Inc. (QBR-B:CA): TD Securities raised its target to $55.00 from $52.00 while maintaining a Buy rating, reflecting wireless growth and improved earnings visibility.

Rockpoint Gas Storage Inc. (RGSI:CA): CIBC World Markets initiated coverage with an Outperform rating and a $30.00 target, based on strong asset value and cash flow stability.

Sangoma Technologies Corp. (STC:CA): TD Securities maintained a Buy rating with a $10.00 target, following in-line quarterly results and reaffirmed guidance.

SSR Mining Inc. (SSRM:CA): Scotiabank maintained an Outperform rating with a $39.00 target, supported by robust production guidance and cost control.

Strathcona Resources Ltd. (SCR:CA): Jefferies raised its target price to $38.00 from $34.00, reflecting operational strength and higher oil price leverage.

TC Energy Corp. (TRP:CA): Jefferies raised its target to $74.00 from $73.00, reflecting stable pipeline volumes and ongoing asset optimization.

VitalHub Corp. (VHI:CA): Scotiabank maintained an Outperform rating with a $15.00 target, highlighting continued growth in digital health solutions and strong recurring revenues.

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