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Canadian Analyst Updates: July 29th, 2026

Canadian Analyst Updates: July 29th, 2026

Analyst Ratings (Canada)

The latest analyst coverage suggests a positive but selective market outlook, with the strongest investor confidence concentrated in technology, energy, materials, and financial sectors. Technology remains supported by AI infrastructure demand, while energy continues to benefit from strong cash flow generation and favourable commodity trends. Mining sentiment remains positive due to long-term copper and gold demand, and financials continue to attract support from improving earnings expectations and stable balance sheets. Industrials and consumer companies with strong execution also received favourable attention, while real estate and utilities remain more cautious due to valuation concerns and interest rate sensitivity. Overall, analysts are favouring companies with strong free cash flow, sustainable growth drivers, and disciplined capital allocation.

59 Analyst Rating Updates

Alimentation Couche Tard Inc. (ATD:CA) – RBC Capital increased its price target to $111.00 from $106.00 while maintaining an Outperform rating, reflecting continued confidence in the company’s growth strategy and operational performance.

Allied Gold Corporation (AAUC:CA) – CIBC World Markets maintained its Tender rating with a $44.00 price target.

Allied Properties REIT (AP.UN:CA) – Scotiabank maintained its Sector Perform rating with a C$10.75 price target, indicating a balanced outlook for the real estate investment trust sector.

Apotex Health Corp. (APTX:CA) – Raymond James raised its price target to $40.00 from $36.00, reflecting improved expectations for future performance.

ATCO Ltd. (ACO-X:CA) – TD Securities maintained its Hold rating with a $69.00 price target, suggesting a neutral outlook based on current valuation.

Barksdale Resources Corp. (BRO:CA) – ATB Cormark lowered its price target to $0.25 from $0.40 while maintaining a Speculative Buy rating, reflecting increased caution but continued exploration upside.

Boardwalk REIT (BEI-UN:CA) – CIBC World Markets maintained its Neutral rating with a $80.00 price target.

Boardwalk REIT (BEI.UN:CA) – Scotiabank maintained its Sector Perform rating with a C$74.50 price target, indicating expectations for performance in line with the broader REIT sector.

BRP Inc. (DOO:CA) – Scotiabank maintained its Sector Perform rating with a C$88.00 price target, reflecting a balanced view on near-term industry conditions.

Canada Packers Inc. (CPKR:CA) – TD Securities maintained its Buy rating with a $24.00 price target, supporting a positive outlook.

Canadian Utilities Ltd. (CU:CA) – TD Securities maintained its Hold rating with a $48.00 price target, reflecting a cautious stance on valuation.

Capital Power Corp. (CPX:CA) – TD Securities maintained its Buy rating with a $80.00 price target.

Capital Power Corp. (CPX:CA) –  CIBC World Markets maintained an Outperform rating with an $85.00 price target, reflecting continued confidence in the company’s power generation assets.

Celestica Inc. (CLS:CA) – Barclays lowered its price target to $606.00 from $621.00 while maintaining an Overweight rating, reflecting a modest valuation adjustment while remaining positive on growth prospects.

Celestica Inc. (CLS:CA) – CIBC increased its price target to $704.00 from $676.00 and maintained an Outperform rating, highlighting strong confidence in AI infrastructure demand.

Celestica Inc. (CLS:CA) – RBC Capital raised its price target to $634.00 from $620.00 while maintaining an Outperform rating, reflecting improving earnings expectations.

Celestica Inc. (CLS:CA) – TD Securities maintained its Buy rating with a $605.00 price target, supporting continued optimism.

Cenovus Energy Inc. (CVE:CA) – CIBC World Markets maintained its Outperform rating with a $48.00 price target, reflecting confidence in energy fundamentals.

Cenovus Energy Inc. (CVE:CA) – TD Securities maintained its Buy rating with a $46.00 price target, supporting a positive outlook for the company.

Centerra Gold Inc. (CG:CA) – CIBC World Markets increased its price target to $38.00 from $37.00 while maintaining an Outperform rating, reflecting improved expectations for gold production and profitability.

Centerra Gold Inc. (CG:CA) – TD Securities raised its price target to $32.00 from $31.00 while maintaining a Buy rating.

Centerra Gold Inc. (CG:CA) – Scotiabank maintained its Outperform rating with a C$29.00 price target.

CGI Inc. (GIB-A:CA) – CIBC World Markets maintained its Neutral rating with a $107.00 price target.

CGI Inc. (GIB-A:CA) – TD Securities maintained its Hold rating with a $99.00 price target.

First Quantum Minerals Ltd. (FM:CA) – Scotiabank maintained its Outperform rating with a C$55.00 price target, reflecting continued confidence in the mining outlook.

Gibson Energy Inc. (GEI:CA) – CIBC World Markets increased its price target to $34.00 from $33.00, reflecting improved expectations for cash flow growth.

Gibson Energy Inc. (GEI:CA) – RBC Capital raised its price target to $33.00 from $30.00 while maintaining an Outperform rating.

Gibson Energy Inc. (GEI:CA) – National Bank increased its price target to $34.00 from $33.00 while maintaining an Outperform rating.

Gibson Energy Inc. (GEI:CA) – Raymond James raised its price target to $36.00 from $35.00 while maintaining an Outperform rating.

Gibson Energy Inc. (GEI:CA) – ATB Cormark increased its price target to $34.00 from $32.00 while maintaining an Outperform rating.

Gibson Energy Inc. (GEI:CA) – Scotiabank maintained its Sector Perform rating with a C$31.00 price target.

goeasy Ltd. (GSY:CA) – ATB Cormark initiated coverage with an Underperform rating and a $35.00 price target, reflecting concerns around valuation and consumer credit conditions.

Great-West Lifeco Inc. (GWO:CA) – National Bank increased its price target to $95.00 from $93.00 while maintaining a Sector Perform rating.

Great-West Lifeco Inc. (GWO:CA) – Barclays Capital raised its price target to $87.00 from $86.00.

Great-West Lifeco Inc. (GWO:CA) – TD Securities increased its price target to $106.00 from $98.00 while maintaining a Buy rating.

Great-West Lifeco Inc. (GWO:CA) – Scotiabank maintained its Outperform rating with a C$95.00 price target.

Healwell AI Inc. (AIDX:CA) – Canaccord Genuity initiated coverage with a Speculative Buy rating and a $1.75 price target, reflecting long-term AI healthcare growth potential.

Healwell AI Inc. (AIDX:CA) – Scotiabank lowered its price target to $1.50 from $2.00 while maintaining a Outperform rating.

Hudbay Minerals Inc. (HBM:CA) – CIBC World Markets maintained its Outperform rating with a $46.00 price target.

Hudbay Minerals Inc. (HBM:CA) – TD Securities maintained its Buy rating with a $43.00 price target.

Intact Financial Corp. (IFC:CA) – TD Securities increased its price target to $345.00 from $347.00 while maintaining a Buy rating.

Intact Financial Corp. (IFC:CA) – Barclays lowered its price target to $344.00 from $352.00 while maintaining an Overweight rating.

Intact Financial Corporation (IFC:CA) – Scotiabank maintained its Outperform rating with a C$330.00 price target.

Methanex Corp. (MX:CA) – Scotiabank maintained its Outperform rating with a C$113.00 price target.

NFI Group Inc. (NFI:CA) – TD Securities maintained its Buy rating with a $26.00 price target.

Ovintiv Inc. (OVV:CA) – Citigroup increased its price target to $96.00 from $93.00 while maintaining a Buy rating.

Precision Drilling Corp. (PD:CA) – TD Securities maintained its Hold rating with a $124.00 price target.

Precision Drilling Corporation (PD:CA) – CIBC World Markets lowered its price target to $155.00 from $160.00 while maintaining an Outperform rating.

Quarterhill Inc. (QTRH:CA) – ATB Cormark increased its price target to $5.00 from $4.40 and named the stock a Top Pick, reflecting stronger growth expectations.

Saputo Inc. (SAP:CA) – TD Securities maintained its Buy rating with a $51.00 price target.

Secure Waste Infrastructure Corp. (SES:CA) – CIBC World Markets maintained its Tender rating with a $24.75 price target.

Superior Plus Corp. (SPB:CA) – Desjardins Securities increased its price target to $8.00 from $7.75 while maintaining a Hold rating.

Tamarack Valley Energy Ltd. (TVE:CA) – Raymond James increased its price target to $16.00 from $15.00 while maintaining an Outperform rating.

Tamarack Valley Energy Ltd. (TVE:CA) – CIBC World Markets maintained its Outperform rating with a $16.50 price target.

Topaz Energy Corp. (TPZ:CA) – Scotiabank maintained its Outperform rating with a C$36.00 price target.

Toromont Industries Ltd. (TIH:CA) – Scotiabank maintained its Sector Perform rating with a C$238.00 price target.

Trican Well Service Ltd. (TCW:CA) – TD Securities maintained its Hold rating with a $7.50 price target.

Wheaton Precious Metals Corp. (WPM:CA) – Peel Hunt cut its price target to $187.00 from $220.00.

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