Global Markets
Canadian Markets
The TSX index traded largely flat as investors balanced surging oil and silver prices against easing gold from its record high in the previous session. Despite commodity strength, broader investor sentiment remains cautious, reflecting persistent economic concerns. A recent survey highlighted that 71% of Canadians expect the cost of living to worsen, 59% anticipate a decline in the overall economy, and 51% believe Canada’s relationship with the U.S. will deteriorate, underscoring ongoing domestic uncertainty with escalating macro headwinds.
American Markets
U.S. stock indexes traded lower following JPMorgan Chase’s fourth-quarter earnings, which, while delivering record profits, fell short of analyst forecasts. The bank’s shares dropped more than 4% on the earnings miss, reflecting investor sensitivity to shortfalls despite strong underlying performance. Meanwhile, the latest CPI report, a critical input for the Federal Reserve’s interest rate decisions, showed headline inflation steady at 2.7% year-over-year, with a monthly rise of 0.3%, both in line with expectations. Core consumer prices were softer than forecast at 0.2% monthly and 2.6% annually, marking the lowest annual core increase since early 2021, hinting at moderate inflation pressures.
European Markets
European markets traded with a negative bias, after hitting record highs, gains were pared as investors digested a series of corporate updates. In France, the central bank projected fourth-quarter growth of at least 0.2%, providing modest reassurance about economic stability.
The UK’s FTSE 100 ended essentially flat amid mixed corporate news. Data from Barclays indicated that UK consumer spending fell in December by the most since 2021, reflecting weakening domestic demand despite a stable labour market.
Corporate Stock News
AbbVie Inc (ABBV): AbbVie struck a three-year deal with the U.S. administration to reduce drug prices and pledged $100 billion over the next decade for research and development, including manufacturing expansions and direct-to-patient offerings.
Ag Growth International Inc. (AFN:CA): TD Securities set a $41.00 target price while reiterating a Buy rating. RBC Capital also raised its target to $30.00 from $25.00, maintaining a Sector Perform rating.
Alphabet Inc (GOOGL): Google plans to develop and manufacture high-end Pixel smartphones in Vietnam this year while maintaining lower-end Pixel A series production in China.
Amgen Inc (AMGN): Amgen reported that its experimental obesity drug MariTide helps maintain weight loss even at lower doses, with strong efficacy and safety signals in Type 2 diabetes patients.
ATEX Resources (ATX:CA): TD Securities maintained its Buy rating on the stock with a 12 month taget price of $4.25 per share.
Athabasca Oil Corp. (ATH:CA): RBC Capital lowered its price target to $7.00 from $7.50 while maintaining an Outperform rating amid market caution.
Aya Gold & Silver Inc. (AYA:CA): CIBC World Markets raised its price target to $30.00 from $27.00, signaling optimism for the company’s exploration and production potential.
Bank of New York Mellon Corp (BK): BNY reported higher fourth-quarter profit, driven by rising interest rates and asset values, raising its medium-term return on tangible common equity target to 28%.
Baytex Energy Corp. (BTE:CA): RBC Capital downgraded the stock to Sector Perform, reflecting cautious sentiment in the energy sector.
Birchcliff Energy Ltd. (BIR:CA): CIBC World Markets downgraded to Neutral from Outperform and lowered its target to $8.50 from $9.50, reflecting commodity pricing and production risk.
Blackline Safety Corp. (BLN:CA): TD Securities maintained a Hold rating with an $8.00 price target.
BRP Inc. (DOO:CA): Citigroup raised its price target to $128.00 from $122.00 while maintaining a Buy rating, reflecting optimism in powersports and recreational vehicle markets.
Canadian Apartment Properties REIT (CAR.UN:CA): TD Securities maintained its Buy rating, alongside its 12 month target price of $47 per share.
Canadian Natural Resources Ltd. (CNQ:CA): RBC Capital lowered its target to $61.00 from $62.00, maintaining an Outperform rating amid modest oil price adjustments.
Cardinal Energy Ltd. (CJ:CA): CIBC World Markets lowered its target price to $8.00 from $8.25 per share.
Cenovus Energy Inc. (CVE:CA): RBC Capital lowered its price target to $29.00 from $32.00 while maintaining an Outperform rating, reflecting strong cash flow but mixed oil price conditions.
Charles River Laboratories International Inc (CRL): Announced a $510 million acquisition of a major non-human primate supplier to gain more control over drug safety testing resources.
Citigroup Inc (C): The bank plans to cut about 1,000 jobs this week as part of its broader 20,000-job reduction plan, following ongoing restructuring.
Delta Air Lines Inc (DAL): Forecasted ~20% earnings growth for 2026, backed by rising premium travel demand, and announced an order for 30 Boeing 787-10 aircraft.
Diamondback Energy Inc (FANG): Flagged lower oil and gas prices in Q4 compared to the prior quarter, with average realized oil prices falling to $58.00/barrel.
Discovery Silver Corp. (DSV:CA): CIBC World Markets raised its price target to $12.50 from $9.50 while maintaining an Outperform rating.
DPM Metals (DPM:CA): TD Securities maintained its Outperform rating with a $43.00 target price on the stock.
Endeavour Silver Corp. (EDR:CA): CIBC World Markets raised its price target to $20.00 from $18.00 and maintained an Outperform rating.
Exchange Income Corp. (EIF:CA): Canaccord Genuity raised its 12 month target price to $107.00 from $85.00 while maintaining a Buy rating.
General Motors Co (GM): CEO Mary Barra stated that Trump administration regulatory changes prompted a shift toward EV and hybrid development.
BlackRock Inc (BLK): Will cut ~1% of its global workforce (~250 employees) in a round of efficiency-driven layoffs.
Imperial Oil Ltd. (IMO:CA): RBC Capital lowered its target to $116.00 from $118.00 while maintaining a Sector Perform rating on the stock.
Johnson & Johnson (JNJ): Delaware Supreme Court partially overturned $1 billion damages over Auris Health acquisition dispute.
L3Harris Technologies Inc (LHX): U.S. government will invest $1 billion in its rocket motor business, to be spun off into a publicly traded entity.
Meta Platforms Inc (META): Plans to cut ~10% of Reality Labs employees focused on metaverse and VR hardware.
Nvidia Corp (NVDA): Clarified it does not require upfront payment for H200 AI chips amid supply concerns with Chinese clients.
Pfizer Inc (PFE): CEO Albert Bourla said the company is preparing for a large consumer obesity drug market, planning 10 phase 3 studies from Metsera acquisition.
Revvity Inc (RVTY): Raised 2025 adjusted EPS guidance above $5.00, with revenue forecasts exceeding expectations.
Viking Therapeutics Inc (VKTX): CEO emphasized the strategic opportunities in the growing $150B weight-loss drug market.
Wheaton Precious Metals Corp. (WPM:US): CIBC lowered its target to $222.00 from $243.00 while maintaining Outperform.
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
