Analyst Updates (Canada)
Today’s analyst updates point to a moderately bullish but selective outlook, with most firms maintaining Buy, Outperform, or Overweight ratings, indicating continued confidence in upside for many Canadian stocks. However, this optimism is tempered by a meaningful number of price target cuts and a few neutral ratings, especially in tech and mining, suggesting caution around valuations and near-term execution risks. While several companies saw target increases and positive initiations, reinforcing strength in areas like energy and infrastructure, the presence of mixed calls and at least one downgrade shows analysts are becoming more discerning rather than broadly bullish.
Overall, the tone suggests measured optimism, where gains are expected but increasingly dependent on company-specific performance rather than a rising market tide.
29 Analyst Updates
Alaris Equity Partners Income Trust (AD.UN:CA) had its price target raised to $26.50 from $26.00 by Acumen Capital, which maintained a Buy rating.
AltaGas Ltd. (ALA:CA) had its price target raised to $54.00 from $52.00 by Scotiabank, which maintained an Outperform rating.
Barrick Mining (ABX:CA) had its Buy rating maintained by TD Securities with a $61.00 price target.
Cannara Biotech Inc. (LOVE:CA) was initiated with a Buy rating and a $3.00 price target by Haywood Securities.
Cogeco Communications Inc. (CCA:CA) had its price target lowered to $74.00 from $76.00 by Canaccord Genuity, which maintained a Buy rating.
D2L Inc. (DTOL:CA) had its price target lowered to $9.50 from $12.75 by Stifel Nicolaus, which maintained a Hold rating.
D2L Inc. (DTOL:CA) had its price target lowered to $10.00 from $17.00 by BMO Capital Markets, which maintained a Market Perform rating.
D2L Inc. (DTOL:CA) had its price target lowered to $13.00 from $22.00 by TD Securities, which maintained a Buy rating.
D2L Inc. (DTOL:CA) had its Outperform rating maintained by CIBC with a $15.00 price target.
Decisive Dividend Corp. (DE:CA) had its price target raised to $11.50 from $10.75 by ATB Cormark, which maintained an Outperform rating.
Extendicare Inc. (EXE:CA) had its price target raised to $32.00 from $19.00 by TD Securities, which maintained a Buy rating.
GFL Environment Inc. (GFL:CA) had its Outperform rating maintained by CIBC with a $75.00 price target.
High Liner Foods Inc. (HLF:CA) had its price target lowered to $19.50 from $24.00 by ATB Cormark, which maintained a Speculative Buy rating.
Ivanhoe Mines Ltd. (IVN:CA) had its price target lowered to $11.50 from $15.00 by Canaccord Genuity, which maintained a Hold rating.
Ivanhoe Mines Ltd. (IVN:CA) was downgraded to Sector Perform by RBC Capital, which did not provide a price target.
Lithium Americas (LAC:CA) had its price target lowered to $7.00 by Scotiabank, which did not specify a rating or prior target.
Lithium Argentina (LAR:CA) had its price target raised to $12.00 by Scotiabank.
MDA Space Ltd. (MDA:CA) had its price target raised to $57.00 by Jefferies & Co, which maintained a Buy rating
MDA Space Ltd. (MDA:CA) had its price target raised to $47.00 by JP Morgan, which maintained an Overweight rating.
MTY Food Group Inc. (MTY:CA) had its price target raised to $49.00 by National Bank, which maintained an Outperform rating.
Quarterhill Inc. (QTRH:CA) had its price target raised to $2.75 from $2.00 by ATB Cormark, which maintained an Outperform rating.
Shopify Inc. (SHOP:CA) had its price target lowered to $166.00 from $191.00 by Wells Fargo, which maintained an Overweight rating.
Shopify Inc. (SHOP:CA) had its Buy rating maintained by TD Securities with a $221.00 price target.
Suncor Energy Inc. (SU:CA) had its price target raised to $94.00 from $92.00 by CIBC, which maintained an Outperform rating.
Troilus Mining Corp. (TLG:CA) was initiated with a Buy rating and a $4.00 price target by Ventum Financial.
Versamet Royalties Corp. (VMET:CA) was initiated with an Outperform rating and an $18.00 price target by BMO Capital Markets.
Waste Management (WM:CA) had its Neutral rating maintained by CIBC with a $360.00 price target.
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