Global Markets
Analyst sentiment was broadly positive across Canadian stocks today, with the majority of updates consisting of positive ratings accompanied by higher target forecasts. Financial and real estate companies continue to receive favorable recommendations, reflecting confidence in earnings and valuation prospects. Industrials and transportation companies, and also saw target price increases, indicating improving growth expectations, while resource related stocks maintained positive coverage.
Analyst Updates
Algoma Steel Group (ASTL:CA) — RBC Capital maintained its Sector Perform rating on Algoma Steel Group and kept its price target at $7.00.
Aurora Cannabis (ACB:CA) — Canaccord Genuity maintained its Buy rating on Aurora Cannabis while lowering its price target to $5.00 from $6.50.
BCE (BCE:CA) — TD Securities maintained its Buy rating on BCE with a $37.00 price target.
Cameco (CCO:CA) — TD Securities maintained its Buy rating on Cameco and reiterated its $185.00 price target.
DRI Healthcare Trust (DHT.UN:CA) — Canaccord Genuity maintained its Buy rating and raised its price target to $23.00 from $22.25.
DRI Healthcare Trust (DHT.UN:CA) — Stifel Nicolaus maintained its Buy rating and increased its price target to $24.00 from $23.00.
EQB Inc. (EQB:CA) — CIBC maintained its Outperform rating and raised its price target to $151.00 from $116.00.
GO Residential REIT (GO-UN:CA) — CIBC maintained its Outperform rating with a $20.00 price target.
Great-West Lifeco (GWO:CA) — CIBC maintained its Outperform rating and reiterated its $81.00 price target.
Hammond Power Solutions (HPS.A:CA) — Raymond James initiated coverage with an Outperform rating and a $405.00 price target.
Hammond Power Solutions (HPS.A:CA) — Acumen Capital maintained its Buy rating and raised its price target to $365.00 from $345.00.
Koryx Copper (KRY:CA) — BMO maintained its Outperform rating with a $6.00 price target.
Methanex (MX:CA) — CIBC maintained its Neutral rating and reiterated its $98.00 price target.
Metro (MRU:CA) — National Bank maintained its Sector Perform rating with a $105.00 price target.
Mullen Group (MTL:CA) — CIBC maintained its Neutral rating and increased its price target to $22.00 from $20.00.
Neo Performance Materials (NEO:CA) — ATB Cormark maintained its Outperform rating and raised its price target to $43.00 from $37.50.
Nutrien (NTR:CA) — Scotiabank maintained its Outperform rating and reiterated its $113.00 price target.
Paramount Resources (POU:CA) — Scotiabank maintained its Sector Perform rating with a $35.00 price target.
Parkit Enterprise (PKT:CA) — Scotiabank maintained its Sector Perform rating and raised its price target to $10.50.
Primaris REIT (PMZ-UN:CA) — TD Securities maintained its Buy rating and increased its price target to $24.00 from $22.00.
Primaris REIT (PMZ.UN:CA) — Scotiabank maintained its Sector Perform rating and raised its price target to $22.00 from $19.75.
Quarterhill (QTRH:CA) — CIBC maintained its Outperform rating and raised its price target to $4.50 from $2.50.
RB Global (RBA:CA) — Raymond James upgraded RB Global to Strong Buy and established a $205.00 price target.
Russel Metals (RUS:CA) — RBC Capital maintained its Outperform rating and increased its price target to $68.00 from $63.00.
SmartCentres REIT (SRU-UN:CA) — CIBC maintained its Outperform rating with a $33.00 price target.
TFI International (TFII:CA) — CIBC maintained its Outperform rating and raised its price target to $244.00 from $229.50.
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