Analyst Ratings (Canada)
Today’s analyst outlook is moderately bullish but increasingly selective. Mining and uranium showed the strongest positive momentum, with multiple new Buy initiations and higher targets reflecting strong commodity and nuclear-energy expectations. Technology and growth stocks also remained favourable, supported by positive ratings. Energy was mixed, with strong ratings for established producers but a more cautious stance toward some names. Financials were generally constructive but valuation-sensitive, with several target increases alongside Neutral ratings and some target reductions. Consumer staples/retail, particularly the large grocery and convenience-store segment, saw the most noticeable target-price pressure, with numerous reductions despite ratings remaining broadly positive. Industrials, transportation and forestry remained positive, while materials and specialty mining attracted strong analyst interest. Overall, the rating mix points to a bullish underlying view of Canadian stocks, led by commodities, uranium, technology and selected financials, but with analysts becoming more cautious on valuations in consumer and large-cap names.
43 Analyst Updates
AbraSilver Resource Corp. (ABRA:CA): Scotiabank maintained an Outperform rating with a $21.00 target price.
Alimentation Couche-Tard Inc. (ATD:CA): BMO-Capital Markets lowered its target price to $90.00 from $95.00.
Alimentation Couche-Tard Inc. (ATD:CA): Raymond James lowered its target price to $100.00 from $105.00.
Alimentation Couche-Tard Inc. (ATD:CA): Scotiabank maintained an Outperform rating with a $104.00 target price.
Alimentation Couche-Tard Inc. (ATD:CA): TD-Securities lowered its target price to $103.00 from $110.00 while maintaining a Buy rating.
Alimentation Couche-Tard Inc. (ATD:CA): Scotiabank lowered its target price to $102.00 from $104.00 while maintaining an Outperform rating.
Alimentation Couche-Tard Inc. (ATD:CA): Stifel Nicolaus lowered its target price to $102.00 from $108.00 while maintaining a Buy rating.
Alimentation Couche-Tard Inc. (ATD:CA): BMO-lowered its target price to $90.00 from $95.00 while maintaining a Market Perform rating.
Alimentation Couche-Tard Inc. (ATD:CA): National Bank lowered its target price to $101.00 from $102.00 while maintaining an Outperform rating.
American Tungsten Corp. (TUNG:CA): Stifel Nicolaus initiated coverage with a Buy rating and a $5.00 target price.
ARC Resources Ltd. (ARX:CA): TD-Securities maintained a Sell rating with a $32.00 target price.
Bank of Montreal (BMO:CA): CIBC lowered its target price to $261.00 from $272.00 while maintaining a Neutral rating.
Bank of Nova Scotia (BNS:CA): CIBC raised its target price to $137.00 from $136.00 while maintaining a Neutral rating.
Barrick Mining Corp. (ABX:CA): Citigroup raised its target price to $62.00 from $56.50 while maintaining a Neutral rating.
Cameco Corporation (CCO:CA): Jefferies & Co. initiated coverage with a Buy rating and a $190.00 target price.
Cameco Corporation (CCO:CA): TD-Securities initiated coverage with a Buy rating and a $190.00 target price.
Cargojet Inc. (CJT:CA): CIBC maintained an Outperform rating with a $125.00 target price.
Celestica Inc. (CLS:CA): Scotiabank maintained an Outperform rating with a $689.00 target price.
Canadian Imperial Bank of Commerce (CM:CA): Jefferies & Co. raised its target price to $154.00 from $153.00.
Collective Mining Ltd. (CNL:CA): Scotiabank maintained an Outperform rating with a $35.00 target price.
Definity Financial Corp. (DFY:CA): CIBC maintained a Neutral rating with an $86.00 target price.
Denison Mines Corp. (DML:CA): Jefferies & Co. initiated coverage with a Buy rating and a $5.20 target price.
Docebo Inc. (DCBO:CA): CIBC maintained an Outperform rating with a $40.00 target price.
Empire Company Limited (EMP-A:CA): Scotiabank maintained a Sector Perform rating with a $50.00 target price.
Empire Company Limited (EMP-A:CA): TD-Securities maintained a Hold rating with a $53.00 target price.
EQB-Inc. (EQB:CA): Jefferies & Co. lowered its target price to $127.00 from $128.00.
GFL-Environmental Inc. (GFL:CA): Scotiabank maintained an Outperform rating with a $78.50 target price.
Global Atomic Corp. (GLO:CA): Jefferies & Co. initiated coverage with a Hold rating and a $0.60 target price.
Groupe Dynamite Inc. (GRGD:CA): Ventum Financial maintained a Buy rating with a $95.00 target price.
Keyera Corporation (KEY:CA): CIBC maintained an Outperform rating with a $66.00 target price.
Methanex Inc. (MX:CA): Scotiabank maintained an Outperform rating with a $110.00 target price.
National Bank of Canada (NA:CA): Canaccord Genuity raised its target price to $228.00 from $224.00.
National Bank of Canada (NA:CA): Jefferies & Co. raised its target price to $213.00 from $212.00.
National Bank of Canada (NA:CA): CIBC World Markets maintained an Outperform rating with a $242.00 target price.
NexGen Energy Ltd. (NXE:CA): Jefferies & Co. initiated coverage with a Buy rating and a $21.00 target price.
Pecoy Copper Corp. (PCU:CA): Scotiabank maintained an Outperform rating with a $3.50 target price.
Royal Bank of Canada (RY:CA): Jefferies & Co. raised its target price to $271.00 from $268.00.
Royal Bank of Canada (RY:CA): CIBC lowered its target price to $300.00 from $311.00 while maintaining a Neutral rating.
Scotiabank (BNS:CA): Jefferies & Co. raised its target price to $120.00 from $119.00.
Suncor Energy Inc. (SU:CA): Scotiabank maintained an Outperform rating with a $106.00 target price.
TD-Bank Group (TD:CA): Canaccord Genuity lowered its target price to $196.00 from $197.00.
TD-Bank Group (TD:CA): Jefferies & Co. raised its target price to $165.00 from $164.00.
TD-Bank Group (TD:CA): CIBC World Markets raised its target price to $188.00 from $184.00 while maintaining a Neutral rating.
West Fraser Timber Co. (WFG:CA): Scotiabank maintained an Outperform rating with a $124.00 target price.
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