Canadian Analyst Updates: Nov 12th, 2026

Allied Properties REIT (AP.UN:CA) — Scotiabank maintains its Sector Perform rating with a price target of C$5.50.

Apotex Health Corp. (APTX:CA) — CIBC maintains its Outperform rating with a price target of C$40.00.

Aya Gold & Silver Inc. (AYA:CA) — CIBC maintains its Outperform rating with a price target of C$55.00.

Bank of Montreal (BMO:CA) — TD Securities maintains its Buy rating and lowers its price target to C$261.00 from C$263.00.

Bank of Nova Scotia (BNS:CA) — TD Securities maintains its Buy rating and lowers its price target to C$140.00 from C$141.00.

Bird Construction Inc. (BDT:CA) — BMO maintains its Outperform rating and raises its price target to C$100.00 from C$95.00.

Bird Construction Inc. (BDT:CA) — Raymond James maintains its Outperform rating and raises its price target to C$95.00 from C$90.00.

Boyd Group Services Inc. (BYD:CA) — ATB Cormark maintains its Outperform rating and lowers its price target to C$180.00 from C$250.00.

Boyd Group Services Inc. (BYD:CA) — Desjardins Securities maintains its Buy rating and lowers its price target to C$205.00 from C$225.00.

Boyd Group Services Inc. (BYD:CA) — National Bank maintains its Outperform rating and lowers its price target to C$175.00 from C$270.00.

Boyd Group Services Inc. (BYD:CA) — Raymond James maintains its Strong Buy rating and lowers its price target to C$235.00 from C$240.00.

Boyd Group Services Inc. (BYD:CA) — RBC Capital Markets maintains its Outperform rating and lowers its price target to C$193.00 from C$224.00.

Boyd Group Services Inc. (BYD:CA) — Scotiabank maintains its Sector Outperform rating with a price target of C$175.00.

BSR REIT (BSRT.U:CA) — Scotiabank maintains its Sector Perform rating with a price target of US $13.00.

BTB REIT (BTB.UN:CA) — National Bank maintains its Sector Perform rating and lowers its price target to C$3.35 from C$3.50.

CAE-Inc. (CAE:CA) — Scotiabank maintains its Sector Outperform rating with a price target of C$49.00.

Canadian Imperial Bank of Commerce (CM:CA) — TD Securities maintains its Buy rating and lowers its price target to C$174.00 from C$175.00.

CCL Industries Inc. (CCL.B:CA) — ATB Cormark maintains its Outperform rating and raises its price target to C$112.00 from C$110.00.

CCL Industries Inc. (CCL.B:CA) — National Bank maintains its Outperform rating and raises its price target to C$119.00 from C$115.00.

CCL Industries Inc. (CCL.B:CA) — Raymond James maintains its Outperform rating and raises its price target to C$108.00 from C$105.00.

CCL Industries Inc. (CCL.B:CA) — RBC Capital Markets maintains its Outperform rating and raises its price target to C$112.00 from C$107.00.

CCL Industries Inc. (CCL.B:CA) — Stifel maintains its Buy rating and raises its price target to C$120.00 from C$115.00.

CCL Industries Inc. (CCL.B:CA) — TD Securities maintains its Buy rating and raises its price target to C$120.00 from C$115.00.

CGI Inc. (GIB.A:CA) — BMO maintains its Outperform rating and raises its price target to C$132.00 from C$117.00.

CGI Inc. (GIB.A:CA) — Desjardins Securities maintains its Buy rating and raises its price target to C$126.00 from C$115.00.

CGI Inc. (GIB.A:CA) — National Bank maintains its Outperform rating and raises its price target to C$145.00 from C$135.00.

CGI Inc. (GIB.A:CA) — RBC Capital Markets maintains its Sector Perform rating and raises its price target to C$115.00 from C$100.00.

CGI Inc. (GIB.A:CA) — Scotiabank maintains its Sector Perform rating with a price target of C$110.00.

CGI Inc. (GIB.A:CA) — Stifel Nicolaus maintains its Buy rating and raises its price target to C$130.00 from C$120.00.

CGI Inc. (GIB.A:CA) — TD Securities maintains its Hold rating and raises its price target to C$125.00 from C$118.00.

Dream Unlimited Corp. (DRM:CA) — Scotiabank maintains its Sector Outperform rating with a price target of C$25.00.

Dream Unlimited Corp. (DRM:CA) — TD Securities maintains its Buy rating and raises its price target to C$26.00 from C$25.00.

Fiera Capital Corp. (FSZ:CA) — National Bank maintains its Sector Perform rating and lowers its price target to C$2.75 from C$3.25.

Fiera Capital Corp. (FSZ:CA) — Scotiabank maintains its Sector Perform rating with a price target of C$4.25.

Flagship Communities REIT (MHC.U:CA) — Scotiabank maintains its Sector Outperform rating with a price target of US $25.50.

Flagship Communities REIT (MHC.U:CA) — TD Securities maintains its Buy rating with a price target of US $26.00.

Franco-Nevada Corp. (FNV) — Scotiabank maintains its Sector Perform rating with a price target of C$388.50.

goeasy Ltd. (GSY:CA) — National Bank maintains its Sector Perform rating and lowers its price target to C$44.00 from C$53.00.

goeasy Ltd. (GSY:CA) — RBC Capital Markets maintains its Underperform rating and lowers its price target to C$33.00 from C$35.00.

goeasy Ltd. (GSY:CA) — Scotiabank maintains its Sector Perform rating with a price target of C$39.00.

Hudbay Minerals Inc. (HBM:CA) — CIBC maintains its Outperform rating with a price target of C$46.00.

Hydro One Ltd. (H:CA) — National Bank maintains its Sector Perform rating and raises its price target to C$62.00 from C$61.00.

KP Tissue Inc. (KPT:CA) — TD Securities maintains its Hold rating with a price target of C$13.00.

Lithium Americas Corp. (LAC) — Scotiabank maintains its Sector Perform rating a price target of C$6.40.

Magna International Inc. (MG:CA) — TD Securities maintains its Buy rating with a price target of C$110.61.

Montage Gold Corp. (MAU:CA) — Scotiabank maintains its Sector Outperform rating with a price target of C$20.00.

National Bank of Canada (NA:CA) — TD Securities maintains its Hold rating and lowers its price target to C$223.00 from C$226.00.

OR Royalties Inc. (OR:CA) — Scotiabank maintains its Sector Perform rating with a price target of C$59.50.

Parkit Enterprise Inc. (PKT:CA) — Scotiabank maintains its Sector Perform rating with a price target of C$10.00.

PROREIT (PRV.UN:CA) — Scotiabank maintains its Sector Perform rating with a price target of C$7.50.

Sagicor Financial Company Ltd. (SFC:CA) — Scotiabank maintains its Sector Outperform rating with a price target of C$13.00.

Stingray Group Inc. (RAY:CA) — Desjardins Securities maintains its Buy rating and raises its price target to C$24.00 from C$22.00.

Stingray Group Inc. (RAY:CA) — National Bank maintains its Outperform rating and raises its price target to C$21.50 from C$20.00.

Superior Plus Corp. (SPB:CA) — ATB Cormark maintains its Sector Perform rating and lowers its price target to C$7.00 from C$9.00.

Superior Plus Corp. (SPB:CA) — BMO maintains its Market Perform rating and lowers its price target to C$6.50 from C$8.50.

Superior Plus Corp. (SPB:CA) — Desjardins Securities maintains its Hold rating and lowers its price target to C$6.50 from C$8.25.

Superior Plus Corp. (SPB:CA) — National Bank maintains its Sector Perform rating with a price target of C$6.50.

Superior Plus Corp. (SPB:CA) — Raymond James maintains its Market Perform rating and lowers its price target to C$7.00 from C$8.50.

Superior Plus Corp. (SPB:CA) — TD Securities upgrades the stock from Sell to Hold with a price target of C$5.50.

Timbercreek Financial Corp. (TF:CA) — TD Securities maintains its Hold rating and lowers its price target to C$5.00 from C$5.50.

VerticalScope Holdings Inc. (FORA:CA) — National Bank maintains its Sector Perform rating and lowers its price target to C$3.00 from C$4.25.

VerticalScope Holdings Inc. (FORA:CA) — TD Securities maintains its Hold rating and lowers its price target to C$2.25 from C$3.00.

Vital Infrastructure Property Trust (VITL.UN:CA) — Scotiabank maintains its Sector Perform rating with a price target of C$6.00.

Volatus Aerospace Inc. (FLT:CA) — Desjardins Securities maintains its Buy rating and lowers its price target to C$0.90 from C$0.95.