Analyst Ratings Canada
Today’s market outlook remains bullish, but increasingly selective, with the TSX continuing to trade near record highs and benefiting from strength in financials and mining. Investor sentiment is supported by expectations for stable interest rates and solid earnings growth, while the broad analyst revisions in today’s data show more upward than downward target price changes. The strongest momentum remains in financials, industrials and materials sectors, while energy and consumer sectors appear positive, but less uniform, while real estate and utilities remain more cautious. With valuations elevated in some areas, particularly in the financial sector, further gains will likely depend more on earnings growth than on additional valuation expansion. Overall, the market backdrop is positive, with a preference for resilient sectors and companies showing improving earnings and upward analyst revisions, while investors should remain alert to valuation concerns and macroeconomic risks that are currently present.
74 Analyst Updates
AGT Food and Ingredients (AGTF) — TD Securities raised its target to $21.00 from $20.00 while maintaining a Hold rating.
AGT Food and Ingredients (AGTF) — Scotiabank raised its target to $21.50 from $20.00 and maintained a Outperform rating.
Aimia (AIM) — Jefferies initiated a $3.75 price target with a Buy rating.
Air Canada (AC) — BMO Capital Markets raised its target to $37.00 from $30.00 and maintained an Outperform rating.
Altius Minerals (ALS) — National Bank raised its target to $75.00 from $70.00 and maintained an Outperfor rating.
Bank of Montreal (BMO) — TD Securities raised its target to $263.00 from $239.00 and maintained a Buy rating.
Bank of Montreal (BMO) — Raymond James raised its target to $268.00 from $233.50 and maintained an Outperform rating.
Bank of Nova Scotia (BNS) — Raymond James raised its target to $137.00 from $121.00 and maintained an Outperform rating.
Bank of Nova Scotia (BNS) — TD Securities raised its target to $124.00 from $113.00 while maintaining a Hold rating.
Blue Moon Metals (MOON) — Scotiabank maintained its Outperform rating with a $14.00 target.
Boyd Group Services (BYD) — TD Securities maintained its Buy rating with a $190 target.
Canadian Imperial Bank of Commerce (CM) — TD Securities raised its target to $175.00 from $163.00 and maintained a Buy rating.
Canadian Imperial Bank of Commerce (CM) — Raymond James raised its target to $173.50 from $155.50 while maintaining a Market Perform rating.
Canadian Natural Resources (CNQ) — JP Morgan raised its target to $75.00 from $67.00.
Cargojet (CJT) — BMO Capital Markets raised its target to $90.00 from $85.00.
Cargojet (CJT) — TD Securities raised its target to $127.00 from $118.00 and maintained a Buy rating.
Cargojet (CJT) — Scotiabank raised its target to $125.00 from $120.00 and maintained a Outperform rating.
Cargojet (CJT) — Desjardins Securities raised its target to $135.00 from $126.00 and maintained a Buy rating.
Cargojet (CJT) — ATB Cormark raised its target to $120.00 from $110.00 and maintained an Outperform rating.
Cargojet (CJT) — Acumen Capital raised its target to $120.00 from $115.00 and maintained a Buy rating.
Cargojet (CJT) — National Bank raised its target to $112.00 from $109.00 and maintained an Outperform rating.
Chartwell Retirement Residences (CSH.UN) — ATB Cormark lowered its target to $25.00 from $25.50 while maintaining an OUTPERFORM rating.
Cineplex (CGX) — National Bank raised its target to $14.00 from $13.50 and maintained an Outperform rating.
Cineplex (CGX) — RBC Capital raised its target to $14.00 from $13.00 and maintained an Outperform rating.
Cineplex (CGX) — Scotiabank raised its target to $13.50 from $12.00 and maintained a Outperform rating.
Cineplex (CGX) — TD Securities initiated a $16.00 target with a Buy rating.
Constellation Software (CSU) — Raymond James raised its target to $3,500 from $3,200 while maintaining a Market Perform rating.
Constellation Software (CSU) — TD Securities maintained its Buy rating with a $200 target.
CT REIT (CRT.UN) — Raymond James lowered its target to $19.25 from $19.75 while maintaining a Market Perform rating.
CT REIT (CRT.UN) — TD Securities initiated a C$19.00 target with a Hold rating.
Dream Unlimited (DRM) — TD Securities maintained its Buy rating with a $30 target.
Exchange Income (EIF) — Desjardins Securities raised its target to $145.00 from $135.00 and maintained a Buy rating.
Exchange Income (EIF) — TD Securities maintained its Buy rating with a $142 target.
Franco-Nevada (FNV) — TD Securities maintained its Buy rating with a $380 target.
Franco-Nevada (FNV) — Scotiabank maintained its Sector Perform rating with a $282 target.
H&R REIT (HR.UN) — Scotiabank maintained its Sector Perform rating with a C$12.00 target.
Hemlo Mining (HMMC) — TD Securities maintained its Buy rating with a $9 target.
Hemlo Mining (HMMC) — Scotiabank maintained its Outperform rating with a $9.50 target.
Hydro One (H) — TD Securities maintained its Hold rating with a $58 target.
IAMGOLD (IAG) — Scotiabank raised its target to $32.00.
Logan Energy (LGN) — Scotiabank maintained its Outperform rating with a $1.45 target.
Maple Leaf Foods (MFI) — TD Securities maintained its Buy rating with a $42 target.
Meren Energy (MER) — Scotiabank maintained its Sector Perform rating with a $2.50 target.
Meridian Mining (MNO) — Scotiabank maintained its Outperform rating with a $3.00 target.
Metro (MRU) — TD Securities maintained its Buy rating with a $106.00 target.
Montage Gold (MAU) — ATB Cormark raised its target to $22.00 from $19.00 and maintained an Outperform rating.
Montage Gold (MAU) — Scotiabank raised its target to $20.00 from $19.00 and maintained a Outperform rating.
Montage Gold (MAU) — Stifel Nicolaus raised its target to $21.00 from $18.00 and maintained a Buy rating.
National Bank of Canada (NA) — Raymond James raised its target to $226.50 from $203.00 while maintaining a Market Perform rating.
National Bank of Canada (NA) — TD Securities raised its target to $227.00 from $202.00 while maintaining a Hold rating.
Neo Performance Materials (NEO) — Stifel Nicolaus raised its target to $55.00 from $49.00 and maintained a Buy rating.
Nexus Industrial REIT (NXR.UN) — TD Securities initiated a $8.00 target with a Hold rating.
NFI Group (NFI) — Scotiabank raised its target to $28.50 from $27.00 and maintained a Outperform rating.
Pason Systems (PSI) — RBC Capital raised its target to $17.00 from $16.00 and maintained an Outperform rating.
Pason Systems (PSI) — TD Securities initiated a C$15.00 target with a Buy rating.
Pet Valu (PET) — National Bank raised its target to $23.00 from $22.00 while maintaining a Sector Perform rating.
Pet Valu (PET) — Raymond James raised its target to $23.00 from $21.00 while maintaining a Market Perform rating.
Pet Valu (PET) — Barclays Capital raised its target to $19.00 from $17.00.
Pet Valu (PET) — TD Securities raised its target to $24.00 from $22.00 and maintained a Buy rating.
Peyto Exploration & Development (PEY) — Scotiabank maintained its Sector Perform rating with a $28.50 target.
Royal Bank of Canada (RY) — TD Securities raised its target to $307.00 from $272.00 and maintained a BUY rating.
Royal Bank of Canada (RY) — Raymond James raised its target to $306.00 from $270.50 while maintaining a Market Perform rating.
Stella-Jones (SJ) — Scotiabank lowered its target to $85.00 from $93.00 while maintaining a Outperform rating.
Toronto-Dominion Bank (TD) — Raymond James raised its target to $180.00 from $155.00 and maintained an Outperform rating.
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