Canadian Analyst Updates: Monday January 19th, 2026

Canadian Analyst Updates: Monday January 19th, 2026

Analyst Ratings (Canada)

The following are today’s 67 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:

ATS Corporation (ATD:CA): TD Securities maintained its Buy rating and reaffirmed a $46.00 price target, reflecting continued confidence in automation demand and execution.

AutoCanada Inc. (ACQ:CA): Canaccord Genuity raised its price target to $42.00 from $36.00 while maintaining a Buy rating, relfecting improving dealership margins and earnings visibility.

Baytex Energy Corp. (BTE:CA): TD Securities downgraded the stock to Hold from Buy, with a $5.00 price target, reflecting a more balanced risk-reward outlook amid oil price volatility.

Blackline Safety Corp. (BLN:CA): TD Securities maintained a Hold rating and an $8.00 target, reflecting cautious optimism as the company progresses toward sustained profitability.

Bombardier Inc. (BBD.B:CA): TD Securities raised its price target to $278.00 from $203.00 while maintaining a Hold rating, reflecting stronger free cash flow generation and balance sheet improvement.

Brookfield Infrastructure Partners LP (BIP.UN:CA): Scotiabank increased its price target to $61.00 from $57.00, reflecting stable regulated cash flows and improving capital allocation visibility.

CAE Inc. (CAE:CA): Scotiabank maintained its Outperform rating with a $47.00 target, supported by strong defense demand and a recovery in civil aviation training.

Calfrac Well Services Ltd. (CFW:CA): ATB Capital raised its price target to $5.25 from $4.25 while maintaining a Sector Perform rating, reflecting improved activity levels and cost control.

CanAlaska Uranium Ltd. (CVV:CA): Canaccord Genuity initiated coverage with a Speculative Buy rating and a $1.35 target, highlighting exploration upside and uranium market leverage.

Capital Power Corp. (CPX:CA): TD Securities maintained a Buy rating and an $80.00 target, reflecting stable contracted cash flows and disciplined capital deployment.

Capstone Copper Corp. (CS:CA): TD Securities maintained its Outperform rating and $18.00 price target, reflecting leverage to improving copper fundamentals.

Chemtrade Logistics Income Fund (CHE.UN:CA): National Bank raised its price target to $18.00 from $17.50 while maintaining an Outperform rating, reflecting stable industrial demand and margin improvement.

Cineplex Inc. (CGX:CA): TD Securities lowered its price target to $16.00 from $17.00 while maintaining a Buy rating, reflecting steady box office recovery offset by cost pressures.

Cogeco Communications Inc. (CCA:CA): Scotiabank lowered its price target to $100.00 from $105.00 while maintaining a Buy rating, reflecting near-term broadband growth challenges.

Cogeco Inc. (CGO:CA): CIBC raised its price target to $66.00 from $61.00, reflecting improving cash flow stability and asset value.

Cogeco Inc. (CGO:CA): TD Securities raised its price target to $120.00 from $110.00 while maintaining a Buy rating, supported by valuation upside and stable operating performance.

Enbridge Inc. (ENB:CA): Scotiabank raised its price target to $73.00 from $70.00, reflecting resilient pipeline cash flows and improved regulatory clarity.

Endeavour Mining Plc (EDV:CA): Jefferies & Co. raised its price target to $92.00 from $81.00, reflecting improved production outlook and cost performance.

Endeavour Silver Corp. (EDR:CA): Scotiabank maintained an Outperform rating with a $20.00 target, reflecting operational leverage to higher silver prices.

Exchange Income Corp. (EIF:CA): TD Securities raised its price target to $102.00 from $92.00 while maintaining a Buy rating, reflecting strong free cash flow generation and defensive earnings.

First Majestic Silver Corp. (AG:CA): Scotiabank maintained its target price at $17.40, while maintaining a Sector Perform rating, reflecting margin pressure and cost inflation risks.

First Quantum Minerals (FM:CA): Scotiabank raised its price target slightly to $42.00 from $41.00 while maintaining a Sector Perform rating, balancing long-term copper exposure with near-term operational risks.

Flagship Communities REIT (MHC.U:CA): Scotiabank raised its price target to $24.00 from $23.00, reflecting stable manufactured housing fundamentals.

G Mining Ventures Corp. (GMIN:CA): Jefferies & Co. raised its price target to $54.00 from $45.00, reflecting project advancement and improved gold price assumptions.

Gibson Energy Inc. (GEI:CA): Scotiabank increased its price target to $15.00 from $14.00, supported by contracted infrastructure cash flows.

GO Residential REIT (GO.U:CA): Scotiabank raised its price target to $15.00 from $14.00, reflecting improving residential rental fundamentals.

Goeasy Ltd. (GSY:CA): TD Securities downgraded the stock to Hold  from Buy and lowered its price target to $135.00 from $160.00, reflecting normalization in consumer credit conditions.

Great-West Lifeco Inc. (GWO:CA): RBC Capital maintained a Sector Perform rating with a $60.00 target, reflecting stable insurance earnings and capital strength.

Headwater Exploration Inc. (HWX:CA): RBC Capital raised its price target to $11.00 from $10.00 while maintaining a Sector Perform rating, reflecting steady production growth.

Hemlo Mining Corp. (HMMC:CA): CIBC World Markets initiated coverage with an Outperform rating and a $7.50 target, reflecting favorable production and exploration potential.

Hudbay Minerals Inc. (HBM:CA): Scotiabank maintained an Outperform rating with a $31.00 target, reflecting leverage to copper and precious metals.

Hudbay Minerals Inc. (HBM:CA): Jefferies & Co. raised its price target to $37.00 from $31.00, reflecting improved operational execution and copper exposure.

IAMGOLD Corp. (IMG:CA): TD Securities maintained a Buy rating with a $24.00 target, reflecting improving operational execution and balance sheet strength.

IA Financial Corp. (IAG:CA): RBC Capital maintained a Sector Perform rating with a $167.00 target, reflecting steady earnings and capital adequacy.

Ivanhoe Mines Ltd. (IVN:CA): Scotiabank maintained an Outperform rating with a $20.00 target, highlighting long-life copper asset quality.

Keyera Corp. (KEY:CA): Scotiabank raised its price target to $55.00 from $54.00, reflecting stable midstream fundamentals.

Kinross Gold Corp. (K:CA): Scotiabank maintained an Outperform rating and a $44.50 target, reflecting strong free cash flow and shareholder returns.

Lithium Argentina AG (LAR:CA): HSBC Securities raised its price target to $13.30 from $6.50 while upgrading the stock to Buy, reflecting improved lithium pricing assumptions.

Lundin Gold Inc. (LUN:CA): Jefferies & Co. raised its price target to $113.00 from $106.00, reflecting strong operating performance and balance sheet strength.

Manulife Financial Corp. (MFC:CA): RBC Capital maintained an Outperform rating with a $52.00 target, reflecting improving return on equity and capital generation.

Metro Inc. (MRU:CA): National Bank maintained an Outperform rating with a $107.00 target, reflecting stable food retail margins and defensive earnings.

Mullen Group Ltd. (MTL:CA): TD Securities maintained a Buy rating with a $20.00 target, reflecting resilient logistics demand.

Mullen Group Ltd. (MTL:CA): Scotiabank maintained a Neutral rating with a $17.00 target, reflecting mixed freight market conditions.

NFI Group Inc. (NFI:CA): Scotiabank raised its price target to $22.00 from $16.00 while maintaining an Outperform rating, reflecting improving manufacturing execution and backlog visibility.

Oceanagold Corp. (OGC:CA): Jefferies & Co. raised its price target to $53.00 from $45.00, reflecting stronger production outlook and gold price assumptions.

Orla Mining Ltd. (OLA:CA): Scotiabank maintained an Outperform rating with a $1.67 target, supported by operational consistency.

Osisko Metals Inc. (OM:CA): Scotiabank maintained an Outperform rating with a $1.20 target, reflecting exploration upside.

Richelieu Hardware Ltd. (RCH:CA): CIBC World Markets raised its price target to $40.00 from $37.00, reflecting margin stability and end-market resilience.

Rockpoint Gas Storage Inc. (RGSI:CA): Scotiabank raised its price target to $31.00 from $29.00, reflecting stable storage demand.

Savaria Corp. (SIS:CA): Scotiabank raised its price target to $29.00 while maintaining an Outperform rating, reflecting improving margins and growth visibility.

Sagicor Financial Co. Ltd. (SFC:CA): RBC Capital maintained an Outperform rating with a $10.00 target, reflecting improving profitability and balance sheet strength.

South Bow Corp. (SOBO:CA): Scotiabank raised its price target to $42.00 from $40.00, reflecting infrastructure cash flow stability.

Sun Life Financial Inc. (SLF:CA): RBC Capital maintained a Sector Perform rating with an $84.00 target, reflecting steady earnings and capital strength.

TC Energy Corp. (TRP:CA): Scotiabank raised its price target to $86.00 from $81.00, reflecting improved balance sheet visibility and regulated asset strength.

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