Analyst Ratings (Canada)
Today’s analyst updates have some positive changes, but also a clear sign of selective caution sits beneath the surface. The majority of changes were target increases and reiterations, particularly across infrastructure, energy, and telecom, indicating analysts still see earnings resilience and incremental upside in defensively positioned or cash-flow-stable sectors. However, the breadth of target cuts, especially in consumer staples and select gold stocks, signals valuation compression and margin sensitivity, rather than outright deterioration in fundamentals. Overall, the tone points to a market that is not bearish, but increasingly valuation-aware, where upside exists but is likely to be more incremental, sector-specific, and dependent on macro stability rather than broad multiple expansion.
47 Analyst Updates
Agnico Eagle Mines Ltd. (AEM:CA) had its price target lowered to $300 from $321 by JP Morgan.
AltaGas Ltd. (ALA:CA) saw ATB Cormark raise its target to $54 from $52 with an Outperform rating.
AltaGas Ltd. (ALA:CA) also had its target increased to $51 with an Outperform rating by CIBC World Markets.
Americas Gold and Silver Corp. (USA:CA) was initiated with a Buy rating and a $16 target by Desjardins Securities.
AtkinsRéalis Group Inc. (ATRL:CA) had its target raised to $115 from $114 with a Buy rating by Stifel Nicolaus.
Aya Gold & Silver Inc. (AYA:CA) was initiated with a Buy rating and a $37 target by Desjardins Securities.
Barrick Mining (ABX:CA) had its price target reduced to $79 from $91 by JP Morgan.
CAE Inc. (CAE:CA) had its target increased to $50 with a Buy rating by Canaccord.
Canadian National Railway Co. (CNR:CA) saw its target raised to $170 from $162 with an Outperform rating by Raymond James.
Canadian Pacific Kansas City Ltd. (CP:CA) had its target lifted to $125 from $120 with an Outperform rating by Raymond James.
Capital Power Corp. (CPX:CA) was upgraded to Top Pick with an $82 target by Desjardins Securities.
Centerra Gold Inc. (CG:CA) had its target increased to $33 from $30 while maintaining a Hold rating by Desjardins Securities.
Chemtrade Logistics Income Fund (CHE.UN:CA) was upgraded to Outperform with an $18.50 target by BMO Capital Markets.
Discovery Silver Corp. (DSV:CA) maintained an Outperform rating with a $15 target at Scotiabank.
Docebo Inc. (DCBO:CA) had its target raised to $36 from $35 with an Outperform rating by ATB Cormark.
Docebo Inc. (DCBO:CA) maintained an Outperform rating with a $38 target by CIBC World Markets.
FirstService Corporation (FSV:CA) maintained an Outperform rating with a $279 target by CIBC World Markets.
Gildan Activewear Inc. (GIL:CA) maintained an Outperform rating with a $108 target by CIBC World Markets.
Goodfood Market Corp. (FOOD:CA) had its target cut to $0.15 from $0.25 while maintaining a Hold rating by Desjardins Securities.
K92 Mining Inc. (KNT:CA) maintained a Buy rating with a $40 target by Desjardins Securities.
Lycos Energy Inc. (LCX:CA) had its target raised to $3.00 from $2.50 with an Outperform rating by National Bank.
Metro Inc. (MRU:CA) had its target lowered to $105 from $110 with an Outperform rating by BMO Capital Markets.
Metro Inc. (MRU:CA) had its target reduced to $97 from $101 with a Neutral rating by CIBC World Markets.
Metro Inc. (MRU:CA) had its target cut to $97 from $99 while maintaining a Hold rating by Desjardins Securities.
Metro Inc. (MRU:CA) had its target lowered to $105 from $106 with a Sector Perform rating by National Bank.
Metro Inc. (MRU:CA) had its target decreased to $96 from $103 with a Sector Perform rating by Scotiabank.
Mullen Group Ltd. (MTL:CA) maintained a Neutral rating with an $18 target by CIBC World Markets.
Orla Mining Ltd. (OLA:CA) was initiated with a Buy rating and a $35 target by Desjardins Securities.
Restaurant Brands International Inc. (QSR:CA) had its target raised to $120 from $104 with a Neutral rating by Citigroup.
Rogers Communications Inc. (RCI.B:CA) had its target increased to $58 from $55 with a Buy rating by Canaccord.
Rogers Communications Inc. (RCI.B:CA) had its target raised to $62 with an Outperform rating by CIBC World Markets.
Rogers Communications Inc. (RCI.B:CA) had its target increased to $59 from $54.50 with a Hold rating by Desjardins Securities.
Rogers Communications Inc. (RCI.B:CA) had its target raised to $62 from $60 with an Outperform rating by National Bank.
Rogers Communications Inc. (RCI.B:CA) had its target lifted to $63 from $61 with an Outperform rating by RBC Capital.
Rogers Communications Inc. (RCI.B:CA) Scotiabank upgraded to Outperform from Sector Perform with a $60.50 target, up from $57.75.
Rogers Communications Inc. (RCI.B:CA) TD Securities.raised the target to $60 from $56 with a Buy rating, upgraded from Hold.
StorageVault Canada Inc. (SVI:CA) maintained a Neutral rating with a $5.50 target by CIBC World Markets.
StorageVault Canada Inc. (SVI:CA) had its target lowered to $5.50 from $5.75 with an Outperform rating by Raymond James.
Superior Plus Corp. (SPB:CA) had its target raised to $8.50 from $8.00 with an Outperform rating by ATB Cormark.
TC Energy Corp. (TRP:CA) had its target increased to $89 from $85 with an Outperform rating by CIBC World Markets.
TC Energy Corp. (TRP:CA) had its target raised to $82 from $80 with an Outperform rating by ATB Cormark.
TC Energy Corp. (TRP:CA) CIBC increased the target to $89 from $85, and upgraded the rating to a Buy from Neutral.
TMX Group Ltd. (X:CA) had its target raised to $65 from $64 with an Outperform rating by RBC Capital.
TMX Group Ltd. (X:CA) maintained an Outperform rating with a $70 target by Scotiabank.
Transat A.T. Inc. (TRZ:CA) maintained an Underperform rating with a $2.00 target (down from $2.20) by CIBC World Markets.
Waste Connections Inc. (WCN:CA) maintained an Outperform rating with a $269 target by CIBC World Markets.
Wesdome Gold Mines Ltd. (WDO:CA) had its target raised to $34 from $32 with a Buy rating by Desjardins Securities.
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