Canadian Analyst Updates: December 23, 2025

Canadian Analyst Updates: February 3rd, 2026

Analyst Ratings (Canada)

The following are today’s 24 entries of the latest analyst ratings tracked for Canadian-listed and Canadian-traded stocks, with several brokerages adjusting their outlooks and target prices in response to company-specific developments, earnings expectations, and broader sector trends. The updates reflect continued focus on cash flow visibility, balance sheet strength, and long-term growth drivers across energy, infrastructure, utilities, and industrial names:

AltaGas Ltd. (ALA:CA): ATB Capital reiterated an Outperform rating and raised its price target to $49.00 from $48.00, reflecting confidence in regulated asset stability and cash flow visibility.

Baytex Energy Corp. (BTE:CA): TD Securities reaffirmed a Buy rating and increased its price target to $5.00 from $4.75, reflecting improved free cash flow leverage and supportive oil price assumptions.

Baytex Energy Corp. (BTE:CA): Scotiabank maintained an Outperform rating with a $5.25 price target, reflecting a constructive view on valuation and cash flow sustainability.

Baytex Energy Corp. (BTE:CA): CIBC maintained a Neutral rating with a $5.25 price target, reflecting balanced risk-reward amid commodity price volatility.

Capital Power Corp. (CPX:CA): ATB Capital maintained an Outperform rating with a $75.00 price target, supported by contracted power assets and earnings stability.

Champion Iron Ltd. (CIA:CA): Raymond James reiterated an Outperform rating and raised its price target to $7.00 from $6.50, reflecting stronger iron ore pricing and operational execution.

Enbridge Inc. (ENB:CA): Jefferies & Co. lowered its price target to $71.00 from $73.00, reflecting a more cautious valuation stance despite stable cash flows and defensive characteristics.

Enbridge Inc. (ENB:CA): ATB Capital maintained its Outperform rating with a $72.00 price target, reflecting resilient fundamentals, predictable earnings from regulated assets, and an attractive income profile.

GDI Integrated Facility Services Inc. (GDI:CA): TD Securities maintained a Hold rating, reflecting a neutral stance on near-term growth and valuation.

Lafleur Minerals (LFLR:CA): Fundamental Research reiterated a Buy rating with a $1.10 price target, highlighting exploration upside and asset optionality.

North American Construction Group Ltd. (NOA:CA): CIBC lowered its price target to $20.00 from $22.00 while maintaining a Neutral rating, citing margin pressure and project timing uncertainty.

Northland Power Corp. (NPI:CA): ATB Capital maintained an Outperform rating but reduced its target to $22.00 from $23.00, reflecting project timing and near-term execution considerations.

Pembina Pipeline Corp. (PPL:CA): ATB Capital reiterated an Outperform rating with a $61.00 price target, supported by stable midstream cash flows and dividend sustainability.

Sonoro Gold Corp. (SGO:CA): Fundamental Research maintained a Buy rating with a $0.70 price target, pointing to project development progress and gold price leverage.

Strathcona Resources Ltd. (SCR:CA): ATB Capital reduced its price target to $32.00 from $42.00, reflecting updated commodity assumptions and valuation normalization.

Transat A.T. Inc. (TRZ:CA): Desjardins Securities raised its price target to $3.30 from $3.00 while maintaining a Hold rating, citing incremental improvement in operating trends.

WildBrain Ltd. (WILD:CA): National Bank maintained its Sector Perform rating while lowering its price target to $2.00 from $2.25, reflecting continued softness in the advertising market and near-term revenue pressure.

WildBrain Ltd. (WILD:CA): RBC Capital Markets reiterated a Sector Perform rating and reduced its price target to $2.00 from $2.50, reflecting cautious expectations for advertising demand and slower recovery across media-related end markets.

WSP Global Inc. (WSP:CA): ATB Capital reiterated its Outperform rating and raised its price target to $330.00 from $305.00, showing strong backlog visibility and continued margin expansion.

WSP Global Inc. (WSP:CA): National Bank maintained an Outperform rating and increased its price target to $304.00 from $301.00, reflecting steady execution and resilient end-market demand.

WSP Global Inc. (WSP:CA): Scotiabank reiterated an Outperform rating and raised its price target to $318.00 from $308.00, supported by disciplined cost management and earnings growth.

WSP Global Inc. (WSP:CA): TD Securities maintained its Buy rating and increased its price target to $335.00 from $330.00, pointing to organic growth strength and integration of recent acquisitions.

WSP Global Inc. (WSP:CA): Desjardins Securities reiterated a Buy rating and raised its price target to $375.00 from $346.00, highlighting sustained infrastructure spending and favorable long-term growth trends.

WSP Global Inc. (WSP:CA): Raymond James reiterated a Strong Buy rating and raised its price target to $340.00 from $310.00, reflecting accelerating earnings momentum and a robust project pipeline.

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