Analyst Ratings (Canada)
Today’s 47 analyst updates reflect a broad reset in market expectations, with widespread price target cuts driven more by macro factors, like higher-for-longer interest rates, geopolitical risk, and moderating growth than by company-specific deterioration. Importantly, most firms maintained their ratings (Buy/Outperform/Hold), indicating that long-term views remain intact but near-term upside is being reduced as analysts lower earnings forecasts and valuation multiples. The consistency of cuts across sectors, from banks to consumer and infrastructure signals a systematic de-risking phase, where the market is transitioning from optimism to caution, suggesting more limited upside and potential volatility rather than an outright bearish collapse.
Ag Growth International Inc. (AFN:CA): National Bank lowered its price target to $24.00 from $39.00 and maintained a Sector Perform rating.
Ag Growth International Inc. (AFN:CA): CIBC maintained a Neutral rating with a $32.00 target.
Ag Growth International Inc. (AFN:CA): TD Securities maintained a Buy rating with a $41.00 target.
Ag Growth International Inc. (AFN:CA): ATB Cormark downgraded the stock to Outperform with a $36.00 target.
Ag Growth International Inc. (AFN:CA): Raymond James cut its price target to $30.00 from $52.00 and assigned a Market Perform rating.
AirBoss of America Corp. (BOS:CA): TD Securities raised its price target to $8.00 from $6.50 and maintained a Buy rating.
Anaergia Inc. (ANRG:CA): National Bank initiated coverage with an Outperform rating and a $5.00 target.
Bank of Montreal (BMO:CA): RBC Capital raised its price target to $205.00 from $219.00 and maintained a Sector Perform rating.
Bank of Nova Scotia (BNS:CA): RBC Capital lowered its price target to $98.00 from $106.00 and maintained a Sector Perform rating.
Boralex Inc. (BLX:CA): TD Securities maintained a Buy rating with a $32.00 target.
Boralex Inc. (BLX:CA): Scotiabank maintained a Sector Perform rating with a $31.00 target.
Brookfield Asset Management (BAM:CA): Scotiabank lowered its price target to $77.00.
Brookfield Corporation (BN:CA): Scotiabank lowered its price target to $67.00.
Brookfield Renewable Partners L.P. (BEP-UN:CA): TD Securities maintained a Buy rating with a $35.00 target.
CIBC (CM:CA): RBC Capital lowered its price target to $147.00 from $158.00.
CIBC (CM:CA): RBC Capital lowered its price target to $147.00 from $158.00 and maintained an Outperform rating.
D2L Inc. (DTOL:CA): TD Securities maintained a Buy rating with a $22.00 target.
Dollarama Inc. (DOL:CA): Canaccord Genuity lowered its price target to $187.00 from $207.00.
Dollarama Inc. (DOL:CA): Jefferies lowered its price target to $200.00 from $235.00.
Dollarama Inc. (DOL:CA): RBC Capital lowered its price target to $223.00 from $225.00.
Dollarama Inc. (DOL:CA): Stifel Nicolaus lowered its price target to $180.00 from $200.00.
Dollarama Inc. (DOL:CA): UBS lowered its price target to $191.00 from $210.00.
Dollarama Inc. (DOL:CA): TD Securities lowered its price target to $225.00 from $235.00 and maintained a Buy rating.
Dollarama Inc. (DOL:CA): Scotiabank maintained an Outperform rating with a $200.00 target.
Dollarama Inc. (DOL:CA): Desjardins lowered its price target to $205.00 from $218.00 and maintained a Buy rating.
Dollarama Inc. (DOL:CA): National Bank lowered its price target to $198.00 from $225.00 and maintained an Outperform rating.
Dollarama Inc. (DOL:CA): Wells Fargo lowered its price target to $185.00 from $195.00.
Dollarama Inc. (DOL:CA): Stifel Nicolaus lowered its price target to $180.00 from $200.00 and maintained a Hold rating.
Dollarama Inc. (DOL:CA): CIBC lowered its price target to $202.00 from $212.00 and maintained an Outperform rating.
Dollarama Inc. (DOL:CA): BMO Capital Markets lowered its price target to $210.00 from $222.00.
Emera Inc. (EMA:CA): CIBC maintained a Neutral rating with a $72.00 target.
Emera Inc. (EMA:CA): TD Securities maintained a Buy rating with a $75.00 target.
goeasy Ltd. (GSY:CA): Scotiabank lowered its price target to $61.00 from $68.00 and maintained an Outperform rating.
MDA Space Ltd. (MDA:CA): ATB Cormark lowered its price target to $46.00 from $61.00 and maintained an Outperform rating.
National Bank of Canada (NA:CA): RBC Capital lowered its price target to $180.00 from $193.00 and maintained a Sector Perform rating.
Pan American Silver Corp. (PAAS:CA): Scotiabank maintained an Outperform rating with an $88.00 target.
Pan American Silver Corp. (PAAS:CA): TD Securities maintained a Hold rating with an $88.00 target.
Thomson Reuters Corp. (TRI:CA): TD Securities maintained a Buy rating with a $175.00 target.
Torex Gold Resources Inc. (TXG:CA): Scotiabank maintained an Outperform rating with a $95.00 target.
Torex Gold Resources Inc. (TXG:CA): TD Securities maintained a Buy rating with a $95.00 target.
Toronto-Dominion Bank (TD:CA): RBC Capital lowered its price target to $138.00 from $148.00 and maintained an Outperform rating.
Transcontinental Inc. (TCL-A:CA): Scotiabank lowered its price target to $6.00 and maintained a Sector Perform rating.
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.
Higher-for-longer interest rates seem to be a major driver of price target cuts, but it’s reassuring that most firms maintained their ratings, indicating intact long-term views. What implications might this have on near-term investment strategies?