Analyst Ratings (Canada)
The following are today’s 44 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, commodity fluctuations, and broader sector trends:
Analyst Coverage Updates
Ag Growth International Inc. (AFN:CA): TD Securities maintained its Buy rating and reiterated a $41.00 price target, reflecting continued confidence in the company’s fundamentals.
Ag Growth International Inc. (AFN:CA): CIBC maintains a Neutral rating with a $34.00 target, reflecting steady operational performance in agricultural equipment and balanced risk-reward amid market volatility.
Alamos Gold Inc. (AGI:CA): CIBC maintains an Outperform rating with a $74.00 target, reflecting strong free cash flow generation and leverage to gold prices, which underpins growth visibility.
Alamos Gold Inc. (AGI:CA): Scotiabank maintained its Outperform rating with a revised target of $69.50, reflecting ongoing operational strength.
Algonquin Power & Utilities Corp. (AQN:CA): TD Securities maintained a Hold rating and set a $9.00 price target, signaling a cautious stance amid balance sheet considerations.
Arizona Sonoran Copper Company Inc. (ASCU:CA): Scotiabank maintained its Outperform rating with a C$6.25 target, highlighting long-term copper development potential.
Artemis Gold Inc. (ARTG:CA): TD Securities maintained a Buy rating and a $42.00 target, supported by construction progress and project execution.
BCE Inc. (BCE:CA): Scotiabank maintained its Outperform rating with a C$40.75 price target, reflecting stable cash flows and dividend support.
Blackline Safety Corp. (BLN:CA): TD Securities maintained a Hold rating and an $8.00 target, balancing growth opportunities against valuation..
Canadian Tire Corporation, Limited (CTC-A:CA): Scotiabank raised its price target to $160.00, and maintained the Sell rating, reflecting updated valuation assumptions.
Cargojet Inc. (CJT:CA): BMO Capital updated its target to $90.00 while maintaining a Hold rating, pointing to moderating air cargo demand.
Cogeco Communications Inc. (CCA:CA): TD Securities maintained a Buy rating and a $95.00 target, supported by broadband fundamentals.
Cogeco Communications Inc. (CCA:CA): CIBC maintains a Neutral rating with a $68.00 target, supported by consistent broadband fundamentals but tempered by competitive and regulatory factors.
Corus Entertainment Inc. (CJR-B:CA): TD Securities maintained a Sell rating with a $0.01 target, reflecting severe structural and balance sheet challenges.
Dollarama Inc. (DOL:CA): Bernstein updated its price target to $232.00 while maintaining a Buy rating, citing strong same-store sales momentum.
Electrovaya Inc. (ELVA:CA): Craig-Hallum updated its price target to $12.00 and maintained a Buy rating, reflecting battery contract execution progress.
Enerflex Ltd. (EFX:CA): RBC Capital updated its target to $20.00 while maintaining a Outperform rating, supported by improving energy services demand.
Equinox Gold Corp. (EQX:CA): CIBC maintained its target to $21.50 and maintained a Hold rating, reflecting operational execution and gold price assumptions.
Equinox Gold Corp. (EQX:CA): Scotiabank maintained an Outperform rating with a C$19.00 target, reflecting longer-term production growth.
First Majestic Silver Corp. (AG:CA): TD Securities maintained a Buy rating and a $22.00 target, supported by silver price leverage.
Gold Royalty Corp. (GROY:CA): Scotiabank maintained its Outperform rating with a US$5.00 target, highlighting royalty portfolio optionality.
Granite REIT (GRT-UN:CA): TD Securities maintained a Buy rating and a $94.00 target, reflecting stable industrial real estate fundamentals.
Granite REIT (GRT.UN:CA): Scotiabank raised its target to C$94.00 while maintaining an Outperform rating, reflecting resilient tenant demand.
Hudbay Minerals Inc. (HBM:CA): CIBCraised its target to $35.00 while maintaining an Outperform rating, reflecting updated copper price assumptions and improved operational performance at key mines.
Ivanhoe Mines Ltd. (IVN:CA): TD Securities maintained a Buy rating with a $17.00 target, reflecting long-life copper assets.
Kinross Gold Corp. (K:CA): TD Securities maintained a Buy rating and a $30.00 target, reflecting strong free cash flow generation.
Loblaw Companies Limited (L:CA): Scotiabank raised its price target to $68.00, reflecting updated earnings assumptions.
Mullen Group Ltd. (MTL:CA): TD Securities maintained a Buy rating with a $20.00 target, reflecting logistics earnings stability.
NexGen Energy Ltd. (NXE:CA): TD Securities maintained a Buy rating with a $15.00 target, reflecting uranium market strength.
Nicola Mining Inc. (NIM:CA): Noble Financial updated its target to $1.20 and maintained a Buy rating, reflecting exploration upside.
Orla Mining Ltd. (OLA:CA): TD Securities maintained a Hold rating and an $18.00 target, reflecting balanced risk-reward.
Orla Mining Ltd. (OLA:CA): CIBC maintains an Outperform rating with a $27.00 target, highlighting strong production growth potential and exploration upside.
Paramount Resources Ltd. (POU:CA): Raymond James updated its target to $29.00 while maintaining a Buy rating, supported by natural gas leverage.
Quebecor Inc. (QBR-B:CA): TD Securities maintained a Buy rating and a $58.00 target, reflecting telecom and media asset value.
Richelieu Hardware Ltd. (RCH:CA): CIBC maintains a Neutral rating with a $37.00 target, reflecting stable distribution operations and moderate exposure to retail cyclical trends.
Saputo Inc. (SAP:CA): Scotiabank raised its price target to $44.00, reaffirming a constructive outlook on earnings recovery.
Sigma Lithium Corporation (SGML:CA): Bank of America Securities updated its target to $14.00 while maintaining a Sell rating, reflecting lithium price pressure.
Sprott Inc. (SII:CA): BMO Capital updated its target to $162.00 and maintained a Buy rating, reflecting asset management inflows.
Teck Resources Limited (TECK.B:CA): Veritas Investment Research updated its target to $85.00 while maintaining a Buy rating, supported by copper exposure.
Theralase Technologies Inc. (TLT:CA): Research Capital updated its target to $0.70 and maintained a Buy rating, reflecting medical technology optionality.
Torex Gold Resources Inc. (TXG:CA): TD Securities maintained a Buy rating with a $78.00 target, supported by production visibility.
Torex Gold Resources Inc. (TXG:CA): CIBC maintained its $90.00 target, while maintaining a Buy rating, reflecting valuation upside.
Torex Gold Resources Inc. (TXG:CA): Scotiabank maintained an Outperform rating with a C$72.00 target.
Triple Flag Precious Metals Corp. (TFPM:CA): BMO Capital updated its target to $51.00 while maintaining a Hold rating, reflecting balanced valuation.
Outlook
Today’s analyst updates point to a selectively positive market backdrop rather than a broad risk-on shift. Analysts are largely reaffirming existing views, adjusting price targets to reflect updated commodity prices, earnings visibility, and macro assumptions. Strength is concentrated in materials and precious metals, where cash flow durability and commodity leverage continue to attract confidence. Defensive consumer names also remain favored for their pricing power and earnings stability. By contrast, telecoms, utilities, and several industrial names are seeing more neutral positioning, reflecting balance sheet concerns, regulatory uncertainty, and moderating demand. Caution persists toward structurally challenged businesses and volatile growth exposures.
Overall, the outlook suggests a market focused on valuation discipline and resilience, favoring companies with visible cash flows and strong fundamentals over aggressive growth opportunities.
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