Analyst Ratings (Canada)
The following are today’s 78 latest analyst ratings tracked from multiple analysts for Canadian listed and traded stocks for Thursday December 4th, 2025:
Allied Properties REIT (AP.UN:CA)
Scotiabank reduced its target price from C$18.00 to C$15.75 while reiterating a Sector Perform rating, reflecting a cautious outlook on office-market fundamentals.
Bank of Montreal (BMO:CA)
TD Securities maintained its Hold rating on Bank of Montreal with a target price of C$182.00, reflecting steady performance but limited catalysts for near-term upside.
Bank of Montreal (BMO:CA)
Scotiabank reiterated its Outperform rating for Bank of Montreal and set a target price of C$192.00, highlighting strong top-line trends and healthy credit performance.
BRP Inc. (DOO:CA)
TD Securities maintained its Buy rating on BRP Inc. with a target price of C$106.00, expecting sustained demand across its recreational products lineup.
BRP Inc. (DOO:CA)
Scotiabank reaffirmed its Outperform rating and assigned a target price of C$115.00, pointing to improving retail demand and stable inventory levels.
Canadian Imperial Bank of Commerce (CM:CA)
TD Securities reiterated its Buy rating for CIBC with a target price of C$124.00, reflecting continued progress in loan growth and margin stability.
Canadian Imperial Bank of Commerce (CM:CA)
Scotiabank maintained a Sector Outperform rating and set a target price of C$123.00, reflecting strong revenue momentum and disciplined cost management.
Canfor Corporation (CFP:CA)
Scotiabank maintained its Neutral rating with a C$14.00 target, citing balanced risk and reward given challenging market conditions.
Canfor Corporation (CFP:CA)
TD Securities maintained its Buy rating for Canfor with a C$15.00 target, anticipating recovery in lumber markets and improved mill productivity.
Canfor Corporation (CFP:CA)
Raymond James lowered its target price from C$17.00 to C$15.00 while maintaining an Outperform rating, noting persistent pricing pressures but improved long-term fundamentals.
Canfor Pulp Products (CFX:CA)
Scotiabank cut its target price to C$0.50, signaling heightened concern around the company’s financial outlook and operational headwinds.
Cenovus Energy Inc. (CVE:CA)
TD Securities raised its target price from C$28.00 to C$29.00 and maintained a Buy rating, supported by strong cash flow generation and disciplined capital allocation.
Denison Mines Corp. (DML:CA)
TD Securities maintained its Buy rating for Denison Mines with a target of C$5.00, reflecting growing optimism around uranium pricing and project execution.
Descartes Systems Group Inc. (DSG:CA)
TD Securities kept its Buy rating with a C$168.00 target, reflecting consistent earnings execution and expanding logistics-software demand.
Descartes Systems Group Inc. (DSG:CA)
Scotiabank raised its target from C$127.00 to C$160.00 and reiterated an Outperform rating, highlighting strong recurring-revenue growth.
Descartes Systems Group Inc. (DSG:CA)
BMO Capital Markets increased its target from C$113.00 to C$132.50 and maintained a Market Perform rating, pointing to solid fundamentals but the stock is at full valuation.
Dollarama Inc. (DOL:CA)
Scotiabank maintained a Neutral rating with a C$199.00 target, noting stable consumer demand but moderating valuation upside.
Dollarama Inc. (DOL:CA)
National Bank of Canada raised its target price from C$203.00 to C$214.00 and reiterated an Outperform rating, driven by strong same-store sales and new store expansion.
Empire Company Limited (EMP-A:CA)
Scotiabank maintained an Outperform rating with a C$59.00 target, reflecting operational efficiencies and sustained market-share gains.
Enbridge Inc. (ENB:CA)
BMO Capital Markets raised its target from C$67.00 to C$70.00, reflecting improved visibility in core pipeline operations.
Enbridge Inc. (ENB:CA)
TD Securities maintained a Buy rating with a C$70.00 target, highlighting strong regulated earnings contributions.
Enbridge Inc. (ENB:CA)
Scotiabank maintained its Sector Perform rating and C$70.00 target, reflecting stable utility income but limited near-term catalysts.
EQB Inc. (EQB:CA)
TD Securities maintained a Hold rating with a C$96.00 target, noting slowing loan growth but solid credit metrics.
EQB Inc. (EQB:CA)
Scotiabank reaffirmed its Sector Perform rating with a C$94.00 target, reflecting balanced risk amid moderating mortgage-market momentum.
Equinox Gold Corp. (EQX:CA)
TD Securities raised its target from C$20.00 to C$22.00 while maintaining a Buy rating, supported by production growth and improving costs.
Extendicare Inc. (EXE:CA)
RBC Capital increased its target price from C$15.00 to C$25.00 and maintained an Outperform rating, reflecting restructuring progress and stronger occupancy trends.
Extendicare Inc. (EXE:CA)
Canaccord Genuity boosted its target from C$20.00 to C$22.50, reflecting improving fundamentals within long-term care services.
Extendicare Inc. (EXE:CA)
National Bank raised its target price from C$21.50 to C$24.50 and maintained an Outperform rating, pointing to operational stability and rising demand.
Extendicare Inc. (EXE:CA)
BMO Capital Markets increased its target price to C$24.00 from C$21.00, maintaining an Outperform rating based on strong margin recovery.
Falcon Energy Materials (FLCN:CA)
Desjardins Securities assigned a Buy rating with a C$1.50 target, reflecting promising project development potential.
Headwater Exploration Inc. (HWX:CA)
Desjardins Securities cut its target to C$9.50 from C$8.75 and assigned a Hold rating, reflecting mixed outlook for production growth.
Headwater Exploration Inc. (HWX:CA)
ATB Capital raised its target to C$11.00 from C$8.75 and maintained an Outperform rating, emphasizing robust drilling results.
Ivanhoe Mines Ltd. (IVN:CA)
Scotiabank maintained a Sector Outperform rating with a C$18.50 target, anticipating a relief rally due to improved clarity on Kamoa-Kakula guidance.
Loblaw Companies Limited (L:CA)
Scotiabank reaffirmed a Sector Outperform rating with a C$65.00 target, reflecting solid grocery performance and financial services expansion.
Loblaw Companies Limited (L:CA)
TD Securities maintained its Buy rating with a C$65.00 target,reflecting continued sales momentum and margin stability.
Loblaw Companies Limited (L:CA)
Desjardins Securities raised its target from C$62.00 to C$67.00 while maintaining a Buy rating, supported by strong consumer traffic and operational improvements.
National Bank of Canada (NA:CA)
TD Securities raised its target price from C$161.00 to C$181.00 and maintained a Hold rating, reflecting a solid quarter but limited upside relative to peers.
National Bank of Canada (NA:CA)
Desjardins Securities raised its target from C$167.00 to C$175.00 and maintained a Buy rating, citing broad-based earnings strength.
National Bank of Canada (NA:CA)
RBC Capital increased its target from C$149.00 to C$163.00, reflecting strong capital ratios and stable credit trends.
National Bank of Canada (NA:CA)
Canaccord Genuity raised its target from C$160.00 to C$166.00, reflectng robust fee-income growth.
National Bank of Canada (NA:CA)
Raymond James lifted its target from C$168.00 to C$173.00, maintaining a Market Perform rating due to valuation considerations.
National Bank of Canada (NA:CA)
Scotiabank raised its target from C$166.00 to C$184.00 while maintaining an Outperform rating, reflecting an exceptional quarter and constructive outlook.
National Bank of Canada (NA:CA)
CIBC World Markets raised its target from C$166.00 to C$174.00 and maintained a Neutral rating, reflecting steady long-term performance.
North West Co. Inc. (NWC:CA)
RBC Capital lowered its target from C$60.00 to C$58.00 while maintaining an Outperform rating, noting pressure on northern-market consumer demand.
Orla Mining Ltd. (OLA:CA)
TD Securities maintained a Hold rating with a C$18.00 target, highlighting stable operations but limited near-term catalysts.
Osisko Metals Incorporated (OM:CA)
Scotiabank maintained a Sector Outperform rating with a C$1.15 target, reflecting strong strategic-investor support.
Peyto Exploration & Development Corp. (PEY:CA)
TD Securities raised its target from C$23.00 to C$25.00 and maintained a Buy rating, reflecting higher expected cash flow.
Propel Holdings Inc. (PRL:CA)
Stifel Nicolaus issued a Buy rating with a C$38.00 target, reflecting strong growth in digital lending.
Royal Bank of Canada (RY:CA)
TD Securities upgraded RBC to Buy and increased its target from C$215.00 to C$246.00, reflecting a strong quarter and positive outlook.
Royal Bank of Canada (RY:CA)
Scotiabank raised its target to C$231.00 from C$220 and maintained a Sector Outperform rating, pointing to strong operational momentum.
Royal Bank of Canada (RY:CA)
Barclays Capital raised its target from C$221.00 to C$227.00 and maintained an Overweight rating, highlighting strong credit performance.
Royal Bank of Canada (RY:CA)
Raymond James increased its target from C$229.00 to C$239.00 while maintaining an Outperform rating, reflecting continued earnings strength.
Royal Bank of Canada (RY:CA)
Scotiabank lifted its target from C$218.00 to C$231.00 and maintained an Outperform rating, noting constructive banking trends.
Royal Bank of Canada (RY:CA)
Desjardins raised its target from C$218.00 to C$230.00 while maintaining a Buy rating, supported by capital strength.
Saputo Inc. (SAP:CA)
TD Securities increased its target from C$44.00 to C$49.00 and maintained a Buy rating, reflecting improving margins and top-line growth.
Tamarack Valley Energy Ltd. (TVE:CA)
Canaccord Genuity raised its target from C$6.75 to C$8.00, reflecting improved commodity pricing.
Tamarack Valley Energy Ltd. (TVE:CA)
National Bank raised its target from C$8.00 to C$9.00 and maintained an Outperform rating, reflecting strong drilling results.
Tamarack Valley Energy Ltd. (TVE:CA)
ATB Capital raised its target from C$7.25 to C$9.00 while maintaining an Outperform rating, driven by production growth.
Tamarack Valley Energy Ltd. (TVE:CA)
CIBC World Markets increased its target from C$8.00 to C$9.00 while maintaining an Outperform rating.
Tamarack Valley Energy Ltd. (TVE:CA)
Desjardins Securities raised its target from C$8.50 to C$8.75 and maintained a Buy rating.
Tamarack Valley Energy Ltd. (TVE:CA)
Raymond James raised its target from C$7.00 to C$9.00 and kept an Outperform rating.
Tamarack Valley Energy Ltd. (TVE:CA)
RBC Capital raised its target from C$8.00 to C$9.00 and maintained an Outperform rating.
Telus Corp. (T:CA)
Canaccord Genuity upgraded Telus to Buy, reflecting improving fundamentals.
Telus Corp. (T:CA)
TD Securities maintained its Buy rating with a C$26.00 target, noting improving operational efficiency.
Telus Corp. (T:CA)
National Bank raised its target from C$21.00 to C$21.50 while maintaining an Outperform rating.
Telus Corp. (T:CA)
Scotiabank maintained a Sector Outperform rating with a C$26.00 target, expecting steady wireless-subscriber growth.
The Descartes Systems Group Inc. (DSG:CA)
Scotiabank maintained a Sector Outperform rating with a C$160.00 target, reflecting strong software-as-a-service momentum.
Toronto-Dominion Bank (TD:CA)
Scotiabank maintained its Outperform rating with a C$122.00 target, reflecting strong earnings visibility despite regulatory headwinds.
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