Analyst Ratings (Canada)
Canadian analyst sentiment is cautiously positive, with target increases slightly outnumbering cuts. Energy stocks such as Suncor and Cenovus received higher targets, while mining revisions were mixed: Teck Resources and Lundin Mining saw increases, but NexGen Energy and Denison Mines saw cuts. Four firms also lowered their targets for MTY Food Group. Overall, analysts appear selective about where they see upside in the current market environment with the economy facing steep macro headwinds.
Updates (50)
Apotex Health Corp. (APTX:CA) — Scotiabank maintained its Outperform rating with a C$40.00 price target.
Aritzia Inc. (ATZ:CA) — Jefferies maintained its Hold rating with a $160.00 price target.
BCE-Inc. (BCE:CA) — Canaccord Genuity maintained its Buy rating with a $32.00 price target.
Canadian Natural Resources Ltd. (CNQ:CA) — RBC Capital raised its price target to $86.00 from $79.00.
Cardinal Energy Inc. (CJ:CA) — RBC Capital maintained its Sector Perform rating and raised its price target to $14.50 from $14.00.
Cenovus Energy Inc. (CVE:CA) — TD Securities maintained its Buy rating and raised its price target to $50.00 from $49.00.
Champion Iron Ltd. (CIA:CA) — Scotiabank lowered its price target to $4.00 from $5.00.
Denison Mines Corp. (DML:CA) — Scotiabank lowered its price target to $7.00 from $7.50.
Descartes Systems Group Inc. (DSG:CA) — BMO maintained its Market Perform rating and raised its price target to $128.00 from $116.00.
Dexterra Group Inc. (DXT:CA) — ATB Cormark maintained its Outperform rating and raised its price target to $25.00 from $19.50.
Dye & Durham (DND:CA) — CIBC maintained its Neutral rating and lowered its price target to $2.00 from $2.59.
Enerflex Ltd. (ENFX:CA) — CIBC upgraded its rating to Outperform and raised its price target to $50.00 from $45.00.
Ero Copper Corp. (ERO:CA) — Scotia Capital maintained its Sector Perform rating with a $55.00 price target.
First Mining Gold Corp. (FF:CA) — Ventum Financial maintained its Buy rating and raised its price target to $1.60 from $1.40.
GO Residential REIT (GO.U:CA) — Scotiabank lowered its price target to US$12.00 from US$13.00.
H&R REIT (HR.UN:CA) — Scotiabank maintained a Sector Perform rating and lowered the price target to $10.50 from $12.00.
H&R REIT (HR.UN:CA) — RBC Capital maintained its Outperform rating and lowered its price target to $11.50 from $13.00.
Hammond Power Solutions Inc. (HPS.A:CA) — National Bank maintained its Outperform rating and raised its price target to $380.00 from $355.00.
Hudbay Minerals Inc. (HBM:CA) — Scotiabank raised its price target to $44.00 from $43.00.
Ivanhoe Mines Ltd. (IVN:CA) — Scotiabank raised its price target to $14.00 from $13.50.
Labrador Iron Ore Royalty Corp. (LIF:CA) — Scotiabank lowered its price target to $26.00 from $29.00.
Lundin Mining Corporation (LUN:CA) — Scotiabank raised its price target to $46.00 from $44.00.
MDA-Space Ltd. (MDA:CA) — CIBC maintained its Outperform rating with a $59.00 price target.
Methanex (MX:CA) — Scotiabank maintained its Outperform rating with a $114.00 price target.
MTY-Food Group Inc. (MTY:CA) — National Bank maintained its Sector Perform rating and lowered its price target to $37.00 from $40.00.
MTY-Food Group Inc. (MTY:CA) — Raymond James maintained its Market Perform rating and lowered its price target to $35.00 from $40.00.
MTY-Food Group Inc. (MTY:CA) — Scotiabank maintained its Sector Perform rating and lowered its price target to $36.00 from $40.00.
MTY-Food Group Inc. (MTY:CA) — TD Securities maintained its Hold rating and lowered its price target to $32.00 from $38.00.
NexGen Energy Ltd. (NXE:CA) — Scotiabank lowered its price target to $20.00 from $22.00.
Northland Power Inc. (NPI:CA) — Scotiabank maintained its Sector Perform rating with a $25.00 price target.
Nutrien (NTR:CA) — Scotiabank maintained its Outperform rating with a $114.00 price target.
Ovintiv Inc. (OVV:CA) — RBC Capital raised its price target to $128.00 from $121.00.
Rockpoint Gas Storage Inc. (RGSI:CA) — TD Securities maintained its Hold rating and lowered its price target to $25.00 from $28.00.
Suncor Energy Inc. (SU:CA) — RBC Capital maintained its Outperform rating and raised its price target to $110.00 from $100.00.
TC Energy Corporation (TRP:CA) — CIBC maintained its Outperform rating with a $103.00 price target.
Teck Resources Limited (TECK.B:CA) — Scotiabank raised its price target to C$98.00 from C$85.00.
Tourmaline Oil Corp. (TOU:CA) — Scotiabank maintained its Outperform rating with a $76.00 price target.
Trekor Metals Ltd. (TKO:CA) — National Bank maintained its Outperform rating with a $14.50 price target.
Trekor Metals Ltd. (TKO:CA) — TD Securities maintained its Buy rating with a $14.00 price target.
Wesdome Gold Mines Ltd. (WDO:CA) — CIBC maintained its Outperform rating with a $35.00 price target.
Winpak Ltd. (WPK:CA) — CIBC maintained its Neutral rating and raised its price target to $49.00 from $48.00.
Winpak Ltd. (WPK:CA) — National Bank maintained its Sector Perform rating and raised its price target to $50.00 from $49.00.
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