Analyst Ratings (Canada)
Today’s analyst revisions show a slight positive bias in target price increases, but a more cautious tone in sentiment with regards to ratings. Valuations are being adjusted upwards in financials, industrials, and resource names, reflecting resilient earnings expectations and stable macro assumptions.
At the same time, there is clear pressure in more rate-sensitive and consumer-credit exposed names such as goeasy and parts of the REIT sector, where multiple target cuts signal concerns around growth visibility, funding costs, and earnings momentum. Industrial and service companies also show notable downward revisions in target forecasts, indicating valuation compression.
The general market tone is now selectively defensive with analysts rewarding stable cash-flow businesses and regulated assets while becoming more cautious on leveraged growth stories and discretionary demand exposure.
107 Analyst Updates
AGT Food and Ingredients (AGTF:CA) TD Securities lowered its target price to $20.00 from $21.00 while maintaining a Hold rating
AGT Food and Ingredients Inc. (AGTF:CA) Scotiabank upgraded the stock to Outperform with a $20.00 target price down from $21.00
Altius Minerals Corp. (ALS:CA) Raymond James raised its target price to $59.00 from $52.00
Altius Minerals Corporation (ALS:CA) Scotiabank maintained its Sector Perform rating with a $57.00 target price up from $50.00
AtkinsRéalis Group Inc. (ATRL:CA) CIBC maintained its Outperform rating with a $125.00 target price
AutoCanada Inc. (ACQ:CA) Acumen Capital raised its target price to $27.00 from $25.00 while maintaining a Speculative Buy rating
AutoCanada Inc. (ACQ:CA) CIBC raised its target price to $22.00 from $20.00 while maintaining a Neutral rating
Automotive Properties REIT (APR.UN:CA) Scotiabank maintained its Sector Perform rating with a $13.00 target price
Bank of Montreal (BMO:CA) CIBC raised its target price to $226.00 from $211.00 while maintaining an Outperformer rating
Bank of Nova Scotia (BNS:CA) CIBC World Markets raised its target price to $116.00 from $109.00, with a Neutral rating.
Birchcliff Energy Ltd. (BIR:CA) Raymond James raised its target price to $8.50 from $8.00 while maintaining an Outperform rating
Birchcliff Energy Ltd. (BIR:CA) TD Securities maintained its Buy rating with an $8.50 target price
Bird Construction Inc. (BDT:CA) BMO raised its target price to $55.00 from $52.00 while maintaining a Market Perform rating
Bird Construction Inc. (BDT:CA) CIBC maintained its Outperform rating with a $52.00 target price
Boyd Group Services Inc. (BYD:CA) ATB Cormark lowered its target price to $245.00 from $285.00
Boyd Group Services Inc. (BYD:CA) BMO lowered its target price to $200.00 from $250.00
Boyd Group Services Inc. (BYD:CA) ATB Cormark lowered its target price to $245.00 from $285.00 while maintaining an Outperform rating
Boyd Group Services Inc. (BYD:CA) CIBC lowered its target price to $205.00 from $275.00 while maintaining an Outperform rating
Boyd Group Services Inc. (BYD:CA) Desjardins Securities lowered its target price to $240.00 from $260.00 while maintaining a Buy rating
Boyd Group Services Inc. (BYD:CA) Scotiabank lowered its target price to $231.00 from $239.00 while maintaining a Outperform rating
Boyd Group Services Inc. (BYD:CA) Stifel Nicolaus lowered its target price to $205.00 from $255.00 while maintaining a Buy rating
Boyd Group Services Inc. (BYD:CA) TD Securities lowered its target price to $190.00 from $270.00 while maintaining a Buy rating
BSR REIT (HOM.U:CA) Scotiabank maintained its Sector Perform rating with a US$14.00 target price
Calian Group Ltd. (CGY:CA) CIBC maintained its Outperform rating with a $76.00 target price
Canadian Tire Corporation (CTC-A:CA) CIBC maintained its Neutral rating with a $193.00 target price
CCL Industries Inc. (CCL-B:CA) CIBC maintained its Outperform rating with a $103.00 target price
CCL Industries Inc. (CCL.B:CA) Scotiabank maintained its Sector Perform rating with a $98.00 target price
Chemtrade Logistics Income Trust (CHE.UN:CA) Scotiabank raised its target price to $19.00 from $17.00 while maintaining a Sector Perform rating
Constellation Software Inc. (CSU:CA) CIBC lowered its target price to $4,000.00 from $4,080.00
Constellation Software Inc. (CSU:CA) Desjardins Securities raised its target price to $3,800.00 from $3,900.00 while maintaining a Buy rating
Constellation Software Inc. (CSU:CA) RBC Capital lowered its target price to $4,500.00 from $4,800.00 while maintaining an Outperform rating
Constellation Software Inc. (CSU:CA) TD Securities raised its target price to $4,200.00 from $4,100.00 while maintaining a Buy rating
Denison Mines Corp. (DML:CA) Scotiabank maintained its Outperform rating with a $7.50 target price up from $6.00
Finning International Inc. (FTT:CA) BMO raised its target price to $115.00 from $96.00
Finning International Inc. (FTT:CA) CIBC raised its target price to $120.00 from $100.00 while maintaining an Outperform rating
Finning International Inc. (FTT:CA) National Bank raised its target price to $115.00 from $89.00 while maintaining an Outperform rating
Finning International Inc. (FTT:CA) Raymond James raised its target price to $120.00 from $100.00 while maintaining an Outperform rating
Franco-Nevada Corp. (FNV:CA) National Bank raised its target price to $420.00 from $410.00 while maintaining an Outperform rating
Franco-Nevada Corp. (FNV:CA) Scotiabank maintained its rating with a $398.00 target price up from $392.00
Freehold Royalties Ltd. (FRU:CA) TD Securities maintained its Buy rating with a $22.00 target price
G Mining Ventures (GMIN:CA) CIBC maintained its Outperform rating with a $62.00 target price
goeasy Ltd. (GSY:CA) ATB Cormark lowered its target price to $35.00 from $42.00 while maintaining a Sector Perform rating
goeasy Ltd. (GSY:CA) Desjardins Securities lowered its target price to $38.00 from $47.00 while maintaining a Buy rating
goeasy Ltd. (GSY:CA) National Bank lowered its target price to $34.00 from $38.00 while maintaining a Sector Perform rating
goeasy Ltd. (GSY:CA) Raymond James lowered its target price to $42.00 from $46.50 while maintaining a Market Perform rating
goeasy Ltd. (GSY:CA) RBC Capital lowered its target price to $30.00 from $33.00 while maintaining an Underperform rating
goeasy Ltd. (GSY:CA) Scotiabank maintained its Sector Perform rating with a $39.00 target price
goeasy Ltd. (GSY:CA) TD Securities lowered its target price to $32.00 from $36.00 while maintaining a Hold rating
Happy Belly Food Group Inc. (HBFG:CA) Stifel Nicolaus lowered its target price to $2.30 from $2.50 while maintaining a Buy rating
Hemlo Mining Corp. (HMMC:CA) TD Securities maintained its Buy rating with a $9.00 target price
Hydro One Ltd. (H:CA) BMO raised its target price to $58.00 from $55.00 while maintaining a Market Perform rating
Hydro One Ltd. (H:CA) National Bank raised its target price to $56.00 from $55.00 while maintaining a Sector Perform rating
Hydro One Ltd. (H:CA) Scotiabank raised its target price to $58.00 from $53.00 while maintaining a Sector Perform rating
Hydro One Ltd. (H:CA) TD Securities raised its target price to $58.00 from $57.00 while maintaining a Hold rating
Keyera Corporation (KEY:CA) CIBC maintained its Outperform rating with a $58.00 target price
Kneat.com Inc. (KSI:CA) CIBC maintained its Outperform rating with a $6.25 target price
KP Tissue Inc. (KPT:CA) CIBC maintained its Neutral rating with an $11.00 target price
Logan Energy Corp. (LGN:CA) TD Securities maintained its Buy rating with a $1.25 target price
Manulife Financial Corp. (MFC:CA) National Bank raised its target price to $59.00 from $56.00 while maintaining an Outperform rating
Manulife Financial Corp. (MFC:CA) TD Securities lowered its target price to $58.00 from $59.00 while maintaining a Buy rating
Manulife Financial Corporation (MFC:CA) Scotiabank maintained its Sector Outperform rating with a $57.00 target price
Mattr Corp. (MATR:CA) BMO raised its target price to $12.00 from $8.00 while maintaining an Outperform rating
MDA Space Ltd. (MDA:CA) CIBC initiated coverage with an Outperform rating and a $57.00 target price
Meren Energy Inc. (MER:CA) Scotiabank maintained its Sector Outperform rating with a $2.50 target price
National Bank of Canada (NA:CA) CIBC World Markets raised its target price to $209.00 from $196.00
National Bank of Canada (NA:CA) CIBC World Markets raised its target price to $209.00 from $196.00 while maintaining a Neutral rating
Neo Performance Materials Inc. (NEO:CA) BMO raised its target price to $38.00 from $30.00
North American Construction Group (NOA:CA) CIBC maintained its Neutral rating with a $20.00 target price
North American Construction Group (NOA:CA) ATB Cormark raised its target price to $24.00 from $21.00 while maintaining a Sector Perform rating
North American Construction Group (NOA:CA) BMO raised its target price to $22.00 from $21.00 while maintaining a Market Perform rating
Northland Power Inc. (NPI:CA) CIBC maintained its Outperform rating with a $26.00 target price
Northland Power Inc. (NPI:CA) Scotiabank maintained its Sector Perform rating with a $23.00 target price
Pollard Banknote Ltd. (PBL:CA) Raymond James lowered its target price to $21.50 from $29.00
Power Corp. of Canada (POW:CA) BMO raised its target price to $80.00 from $79.00 while maintaining a Market Perform rating
Power Corp. of Canada (POW:CA) Desjardins Securities raised its target price to $87.00 from $81.00 while maintaining a Buy rating
Power Corp. of Canada (POW:CA) RBC Capital raised its target price to $86.00 from $73.00 while maintaining an Outperform rating
Power Corp. of Canada (POW:CA) Scotiabank raised its target price to $90.00 from $79.00 while maintaining a Outperform rating
Power Corp. of Canada (POW:CA) TD Securities downgraded its rating to Hold from Buy while keeping a $84.00 target price
Power Corp. of Canada (POW:CA) Jefferies raised its target price to $90.00 from $73.00
PROREIT (PRV.UN:CA) Scotiabank maintained its Sector Perform rating with a $7.00 target price
Quebecor Inc. (QBR-B:CA) CIBC maintained its Outperform rating with a $66.00 target price
Royal Bank of Canada (RY:CA) CIBC World Markets raised its target price to $258.00 from $242.00 while maintaining a Neutral rating
Sagicor Financial Company Ltd. (SFC:CA) Scotiabank maintained its Sector Outperform rating with a $13.00 target price
Sangoma Technologies Corp. (STC:CA) TD Securities lowered its target price to $8.00 from $10.00 while maintaining a Buy rating
Sangoma Technologies Corp. (STC:CA) TD Securities maintained its Buy rating with a $8.00 target price down from $10.00
Scotiabank (BNS:CA) CIBC World Markets raised its target price to $116.00 from $109.00
Slate Grocery REIT (SGR.U:CA) ATB Cormark lowered its target price to $12.00 from $13.50 while maintaining a Sector Perform rating
Slate Grocery REIT (SGR.U:CA) Scotiabank maintained its Sector Perform rating with a $12.00 target price up from US$11.00
Slate Grocery REIT (SGR.U:CA) TD Securities maintained its Hold rating with an $11.50 target price
SmartCentres REIT (SRU.UN:CA) RBC Capital raised its target price to $31.00 from $30.00 while maintaining an Outperform rating
Stantec Inc. (STN:CA) CIBC maintained its Outperform rating with a $173.00 target price
Stantec Inc. (STN:CA) Scotiabank maintained its Outperform rating with a $146.00 target price
Superior Plus (SPB:CA) Scotiabank maintained its Sector Perform rating with a $7.00 target price
Torex Gold Resources Inc. (TXG:CA) National Bank raised its target price to $101.00 from $98.00 while maintaining an Outperform rating
Toronto-Dominion Bank (TD:CA) CIBC World Markets raised its target price to $151.00 from $142.00 while maintaining a Neutral rating
VerticalScope Holdings Inc. (FORA:CA) TD Securities maintained its Hold rating with a $3.00 target price
Vital Infrastructure Property Trust (VITL.UN:CA) Scotiabank maintained its Sector Perform rating with a $7.00 target price
Wheaton Precious Metals Corp. (WPM:CA) Scotiabank raised its target price to $247.00 from $244.00
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