Canadian Analyst Updates: May 7th, 2026

Canadian Analyst Updates: May 7th, 2026

Analyst Ratings (Canada)

Canadian analyst sentiment remains generally positive, with the strongest conviction in energy, industrials, infrastructure, seniors housing, and AI/data-centre-related stocks, which saw continued supportive ratings driven by solid earnings power and infrastructure/AI spending trends. Financials and insurers stayed constructive but with slightly tempered upside as valuation and normalization concerns led to some target reductions. Precious metals also remained favored, with bullish views on gold producers amid ongoing macro uncertainty.

103 Analyst Updates

AbraSilver Resource Corp. (ABRA:CA) — Scotiabank maintained a Outperform rating with a C$20 target.

Ag Growth International Inc. (AFN:CA) — ATB Cormark raised its target price to $25 from $22 while maintaining Sector Perform.

Atco Ltd. (ACO.X:CA) — RBC Capital raised its target price to $71 from $66 while maintaining Sector Perform.

Atco Ltd. (ACO.X:CA) — Scotiabank raised its target price to $70 from $67 while maintaining Sector Perform.

Athabasca Oil Corporation (ATH:CA) — Scotiabank maintained a Sector Perform rating with a $10 target.

AtkinsRéalis Group Inc. (ATRL:CA) — ATB Cormark raised its target price to $123 from $122 while maintaining Outperform.

B2Gold Corp. (BTO:CA) — Scotiabank maintained a Sector Perform rating with a $10 target.

Blue Moon Metals Inc. (MOON:CA) — Scotiabank maintained a Outperform rating with a C$13 target.

Boardwalk REIT (BEI.UN:CA) — Desjardins Securities lowered its target price to $77 from $78 while maintaining Buy.

Boardwalk REIT (BEI.UN:CA) — RBC Capital lowered its target price to $81 from $82 while maintaining Outperform.

Boardwalk REIT (BEI.UN:CA) — Scotia lowered its target price to $74.50 from $75.50 while maintaining Sector Perform.

Boardwalk REIT (BEI.UN:CA) — TD Securities lowered its target price to $82 from $85 while maintaining a Buy rating.

Canadian Tire Corp. Ltd. (CTC.A:CA) — RBC Capital raised its target price to $220 from $211 while maintaining Outperform.

Canadian Utilities Ltd. (CU:CA) — National Bank raised its target price to $46 from $45 while maintaining Sector Perform.

Canadian Utilities Ltd. (CU:CA) — RBC Capital raised its target price to $50 from $49 while maintaining Sector Perform.

Canfor Corp. (CFP:CA) — TD Securities maintained a Buy rating with a $16 target.

Cenovus Energy Inc. (CVE:CA) — Raymond James raised its target price to $42 from $41 while maintaining Outperform.

Cenovus Energy Inc. (CVE:CA) — RBC Capital raised its target price to $45 from $42 while maintaining Outperform.

Cenovus Energy Inc. (CVE:CA) — Scotiabank raised its target price to $44 from $38 while maintaining a Outperform.

Cenovus Energy Inc. (CVE:CA) — TD Securities maintained a Buy rating with a $45 target.

Collective Mining Ltd. (CNL:CA) — Scotiabank maintained a Outperform rating with a $35 target.

Crombie REIT (CRR.UN:CA) — Scotiabank maintained a Outperform rating with a $17 target.

Dexterra Group Inc. (DXT:CA) — Scotiabank maintained a Sector Perform rating with a $14 target.

Dream Industrial REIT (DIR.UN:CA) — TD Securities raised its target price to $15.50 from $15.00 while maintaining Buy.

Element Fleet Management Corp. (EFN:CA) — Raymond James lowered its target price to $42 from $42.50 while maintaining Outperform.

Element Fleet Management Corporation (EFN:CA) — Scotiabank maintained a Outperform rating with a $41 target.

Equinox Gold Corp. (EQX:CA) — Scotiabank maintained a Outperform rating with a $26 target.

First Capital REIT (FCR.UN:CA) — BMO raised its target price to $24.20 from $22.00 while maintaining Market Perform.

Fortis Inc. (FTS:CA) — Scotiabank maintained a Sector Perform rating with a $80 target.

Fortis Inc. (FTS:CA) — TD Securities raised its target price to $84 from $83 while maintaining Buy.

Granite REIT (GRT.UN:CA) — Scotiabank maintained a Outperform rating with a $100 target.

Great-West Lifeco Inc. (GWO:CA) — Barclays raised its target price to $73 from $70.

Great-West Lifeco Inc. (GWO:CA) — Scotiabank maintained a Outperform rating with a C$78 target.

Great-West Lifeco Inc. (GWO:CA) — TD Securities raised its target price to $80 from $73 while maintaining Buy.

Hammond Power Solutions Inc. (HPS.A:CA) — ATB Cormark raised its target price to $350 from $250 while maintaining Outperform.

Hammond Power Solutions Inc. (HPS.A:CA) — Canaccord Genuity raised its target price to $348 from $226 while maintaining Buy.

Hammond Power Solutions Inc. (HPS.A:CA) — National Bank raised its target price to $325 from $235 while maintaining Outperform.

Hammond Power Solutions Inc. (HPS.A:CA) — RBC Capital raised its target price to $350 from $250 while maintaining Outperform.

iA Financial Corporation Inc. (IAG:CA) — Scotiabank lowered its target price to $168 from $183 while maintaining Sector Perform.

iA Financial Corporation Inc. (IAG:CA) — TD Securities maintained a Neutral rating with a $168 target.

Intact Financial Corp. (IFC:CA) — RBC Capital adjusted its target price to $289 from $304 while maintaining Sector Perform.

Intact Financial Corp. (IFC:CA) — Scotiabank maintained a Outperform rating with a $320 target.

Ivanhoe Mines Ltd. (IVN:CA) — Scotiabank maintained a Sector Perform rating with a C$13.50 target.

K-Bro Linen Inc. (KBL:CA) — TD Securities raised its target price to $52 from $50 while maintaining Buy.

Keyera Corp. (KEY:CA) — TD Securities lowered its target price to $60 from $62 while maintaining Buy.

Killam Apartment REIT (KMP.UN:CA) — Scotiabank maintained a Outperform rating with a C$19.50 target.

Kinaxis Inc. (KXS:CA) — Scotiabank maintained a Outperform rating with a C$200 target.

Kits Eyecare Ltd. (KITS:CA) — ATB Cormark lowered its target price to $16.75 from $20 while maintaining Speculative Buy.

Kits Eyecare Ltd. (KITS:CA) — Canaccord Genuity lowered its target price to $22 from $23 while maintaining Buy.

Kits Eyecare Ltd. (KITS:CA) — Desjardins Securities lowered its target price to $23 from $25 while maintaining Buy.

Kits Eyecare Ltd. (KITS:CA) — Stifel lowered its target price to $21 from $24 while maintaining Buy.

Linamar Corp. (LNR:CA) — CIBC raised its target price to $110 from $105.

Linamar Corp. (LNR:CA) — Raymond James raised its target price to $100 from $90 while maintaining Market Perform.

Linamar Corp. (LNR:CA) — Scotiabank raised its target price to $99 from $96 while maintaining Sector Perform.

Linamar Corp. (LNR:CA) — TD Securities raised its target price to $119 from $116 while maintaining Buy.

Loblaw Companies Ltd. (L:CA) — CIBC lowered its target price to $69 from $75.

Loblaw Companies Ltd. (L:CA) — Scotiabank lowered its target price to $64 from $70 while maintaining Sector Perform.

Loblaw Companies Ltd. (L:CA) — TD Securities maintained a Buy rating with a C$75 target.

Lundin Gold Inc. (LUG:CA) — Scotiabank maintained a Sector Perform rating with a $90 target.

Lundin Mining Corporation (LUN:CA) — Scotiabank maintained a Sector Perform rating with a $36 target.

Nutrien (NTR:CA) — Scotiabank maintained a Sector Perform rating with a $102 target.

Pet Valu Holdings Ltd. (PET:CA) — RBC Capital lowered its target price to $27 from $33 while maintaining Outperform.

Restaurant Brands International Inc. (QSR:CA) — Citigroup lowered its target price to $115 from $120 while maintaining Neutral.

Restaurant Brands International Inc. (QSR:CA) — Scotiabank raised its target price to $113 from $110 while maintaining Sector Perform.

Russel Metals Inc. (RUS:CA) — National Bank raised its target price to $52 from $51 while maintaining Outperform.

Russel Metals Inc. (RUS:CA) — Raymond James raised its target price to $65 from $60 while maintaining Outperform.

Russel Metals Inc. (RUS:CA) — RBC Capital raised its target price to $63 from $55 while maintaining Outperform.

Russel Metals Inc. (RUS:CA) — Scotiabank raised its target price to $62 from $54 while maintaining Sector Outperform.

Russel Metals Inc. (RUS:CA) — Stifel Nicolaus raised its target price to $58.50 from $49 while maintaining Hold.

Sangoma Technologies Corp. (STC:CA) — TD Securities maintained a Buy rating with a $10 target.

Saturn Oil & Gas Inc. (SOIL:CA) — ATB Cormark raised its target price to $8.50 from $7.00 while maintaining Outperform.

Saturn Oil & Gas Inc. (SOIL:CA) — Canaccord Genuity raised its target price to $7.50 from $7.00 while maintaining Buy.

Saturn Oil & Gas Inc. (SOIL:CA) — National Bank raised its target price to $8.00 from $7.50 while maintaining Sector Perform.

Savaria Corporation (SIS:CA) — Scotiabank maintained a Neutral rating with a C$33 target.

Sienna Senior Living Inc. (SIA:CA) — ATB Cormark raised its target price to $26 from $25 while maintaining Outperform.

Sienna Senior Living Inc. (SIA:CA) — Canaccord Genuity raised its target price to $27.50 from $26.00 while maintaining Buy.

Sienna Senior Living Inc. (SIA:CA) — Scotiabank raised its target price to $26 from $25 while maintaining Outperform.

Sienna Senior Living Inc. (SIA:CA) — TD Securities raised its target price to $27 from $26 while maintaining Buy.

SmartCentres REIT (SRU.UN:CA) — Scotiabank maintained a Sector Perform rating with a $27.50 target.

Sprott Inc. (SII:CA) — Canaccord Genuity raised its target price to $230 from $200 while maintaining Buy.

Sprott Inc. (SII:CA) — RBC Capital raised its target price to $230 from $218 while maintaining Outperform.

Sprott Inc. (SII:CA) — TD Securities raised its target price to $205 from $190 while maintaining Hold.

Stella-Jones Inc. (SJ:CA) — CIBC lowered its target price to $87 from $96.

Stella-Jones Inc. (SJ:CA) — Desjardins Securities lowered its target price to $104 from $107 while maintaining Buy.

Stella-Jones Inc. (SJ:CA) — Raymond James lowered its target price to $95 from $100 while maintaining Outperform.

Stella-Jones Inc. (SJ:CA) — RBC Capital lowered its target price to $85 from $93 while maintaining Sector Perform.

Stella-Jones Inc. (SJ:CA) — Scotiabank maintained a Outperform rating with a $97 target.

Strathcona Resources Ltd. (SCR:CA) — Scotiabank maintained a Outperform rating with a $46 target.

Strathcona Resources Ltd. (SCR:CA) — TD Securities raised its target price to $49 from $47 while maintaining Buy.

Sun Life Financial Inc. (SLF:CA) — National Bank lowered its target price to $108 from $109 while maintaining Outperform.

Sun Life Financial Inc. (SLF:CA) — Scotiabank maintained a Neutral rating with a $100 target.

Sun Life Financial Inc. (SLF:CA) — TD Securities raised its target price to $107 from $102 while maintaining Buy.

Torex Gold Resources Inc. (TXG:CA) — Scotiabank maintained a Outperform rating with a $95 target.

Tourmaline Oil Corp. (TOU:CA) — BMO downgraded the stock to Market Perform with a $70 target up from $67.

Tourmaline Oil Corp. (TOU:CA) — Canaccord Genuity downgraded the stock to Hold from Buy with a $70 target.

Tourmaline Oil Corp. (TOU:CA) — Scotiabank maintained a Outperform rating with a $75 target.

Tourmaline Oil Corp. (TOU:CA) — TD Securities maintained a Hold rating with a $65 target.

TransAlta Corp. (TA:CA) — TD Securities lowered its target price to $26 from $27 while maintaining Buy.

TransAlta Corporation (TA:CA) — Scotiabank maintained a Outperform rating with a $27 target.

TransAlta Corporation (TA:CA) — TD Securities maintained a Buy rating with a C$27 target.

Vermilion Energy Inc. (VET:CA) — National Bank lowered its target price to $27 from $30 while maintaining Outperform.

Vermilion Energy Inc. (VET:CA) — Scotiabank maintained  Sector Perform rating with a $19 target.

WSP Global Inc. (WSP:CA) — Scotiabank maintained a Outperform rating with a $286 target.

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