Analyst Ratings (Canada)
Today’s overall analyst outlook is bullish, with the strongest momentum concentrated in industrials, construction, infrastructure, packaging, energy infrastructure, financials, and selected resource sectors. Most analyst revisions involved higher price targets and continued positive ratings, suggesting improving confidence in earnings growth and fundamentals. The outlook is more mixed in technology, digital media, real estate and certain consumer-related areas, where some target reductions and downgrades appeared. Overall, the revisions indicate a positive risk-on environment, with particular preference for companies benefiting from infrastructure spending, strong demand, improving margins and favorable commodity or energy trends.
69 Analyst Updates
Air Canada (AC:CA): CIBC raised its target to $40 from $26, indicating a significant increase in its valuation outlook.
Alithya Group (ALYA:CA): Barrington Research downgraded the stock to Market Perform, while ATB Cormark maintained Sector Perform and cut its target to $1.35 from $1.60.
Autocanada (ACQ:CA): BMO Capital raised its target to $27 from $24.
Auxly Cannabis (XLY:CA): Haywood Securities maintained a Buy rating and raised its target to $4.00 from $3.50.
Aya Gold & Silver (AYA:CA): BMO Capital raised its target to $41 from $36, while CIBC increased its target to $41.50 from $35.
Bird Construction (BDT:CA): Canaccord Genuity raised its target to $83 from $62, CIBC to $83 from $71, Stifel Nicolaus to $87 from $85, National Bank to $92 from $72, and ATB Cormark to $87 from $57.
Brookfield Corp. (BN:CA): TD Securities maintained their Buy with an $85 target, while Scotiabank maintained Outperform with a $75 target.
CAE (CAE): TD Securities maintained its Buy and raised its target to $45 from $43, while Desjardins maintained the Buy rating and increased its target to $49 from $48.
Calian Group (CGY:CA): CIBC raised its target to $107 from $93, Ventum Capital to $106 from $100, and Desjardins Securities to $109 from $104, and RBC Capital to $105 from $90.
Canadian Tire (CTC.A:CA): Stifel Nicolaus raised its target to $220 from $115, RBC to $230 from $218, Scotiabank to $200 from $180, and Jefferies to $199 from $179, while National Bank reduced its target slightly to $209 from $210.
Cascades (CAS:CA): Scotiabank maintained Outperform and raised its target to $21 from $16.
CCL Industries (CCL.B:CA): BMO Capital Markets raised the target to $110 from $103. CIBC raised the target to $113 from $104. TD Securities maintained a Buy and raised the target to $115 from $110. RBC Capital: maintained Outperform and raised the target to $107 from $100. National Bank maintained Outperform and raised the target to $106 from $104. ATB Cormark maintained the Outperform and raised the target to $104 from $102. Raymond James maintained the Outperform and raised the target to $105 from $100.
Chemtrade Logistics (CHE.UN:CA): Desjardins Securities maintained Buy and raised its target to $18.50 from $17.25.
Diversified Royalty (DIV:CA), Desjardins Securities maintained the Buy rating, but raised its target to $5.00 from $4.75, while ATB Cormark maintained the Outperform but lowered its target to $7.25 from $7.50.
EQB Inc. (EQB:CA): TD Securities maintained the Buy rating and raised its target substantially to $154 from $123.
Extendicare (EXE:CA): RBC Capital maintained Outperform and raised its target to $39 from $38.
HLS Therapeutics (HLS:CA): Raymond James maintained the Strong Buy and raised its target to $8 from $7.
Magellan Aerospace (MAL:CA): TD Securities maintained the Buy and raised its target to $45 from $37.
Mattr (MATR:CA): Stifel Nicolaus maintained the Buy and raised its target to $26 from $23, while National Bank maintained the Outperform and increased its target to $22 from $18.
North American Construction Group (NOA:CA): National Bank maintained the Outperform but lowered its target to $28 from $30.
Northland Power (NPI:CA): TD maintained the Buy with a $25 target, while ATB Cormark maintained the Outperform and raised its target to $28 from $27.
Onex (ONEX:CA): RBC Capital maintained the Sector Perform and raised its target to $135 from $130, while TD Securities maintained the Buy but reduced its target to $163 from $165.
Orezone Gold (ORE:CA): National Bank maintained the Outperform and raised its target to $3.50 from $3.25.
Pollard Banknote (PBL:CA): Raymond James upgraded the outlook to Outperform and raised its target substantially to $28 from $21.50.
PRO REIT (PRV.UN:CA): TD Securities maintained the Buy and raised its target to $7.50 from $7.00. Desjardins Securities maintained the Buy and raised its target to $7.50 from $6.75. RBC maintained the Outperform and raised its target to $7.50 from $7.25. CIBC maintained the Outperform and raised its target to $7.50 from $7.00. Raymond James was the exception, lowering its target to $7.25 from $7.50 with a Market Perform rating.
Stantec (STN:CA): Desjardins maintained the Buy with a $169 target, ATB Cormark maintained the Outperform and raised its target to $133 from $130, while RBC Capital and Scotiabank lowered their targets to $146 from $148 and $129 from $133, respectively.
Terravest Industries (TVK:CA): All three analysts raised their targets, with BMO Capital at $170 from $160, CIBC at $148 from $130, and National Bank at $180 from $170.
Tidewater Midstream (TWM:CA): National Bank raised its target to $27 from $25, ATB Cormark to $26 from $24, and Scotiabank to $26 from $21.
Tidewater Renewables (LCFS:CA): Analysts were strongly positive, with RBC raising its target to $25 from $12.50, National Bank to $22.75 from $13.25, and ATB Cormark to $19 from $16.
VerticalScope Holdings (FORA:CA): Raymond James maintained Outperform but lowered its target to $4 from $5.
Western Forest Products (WEF:CA): RBC maintained Sector Perform and raised its target to $18 from $16.
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