Analyst Ratings for Canadian Stocks: October 12, 2023 (BOS:CA) (CNQ:CA) (CVE:CA) (FNV:CA) (IFC:CA)

Analyst Ratings for Canadian Stocks: October 12, 2023

Investors often rely on the insights and recommendations of financial analysts to make informed decisions about their investments. These analysts evaluate various aspects of publicly-traded companies and provide ratings and price targets based on their analysis. On October 12, 2023, several Canadian stocks received analyst ratings from notable financial institutions.

Airboss of America Corp (BOS:CA)

• Rating: SECTOR PERFORM
• Target Price Range: $6.00 (Low) to $8.50 (High)
• Analyst: National Bank

Airboss of America Corp has received a “SECTOR PERFORM” rating from National Bank. This suggests that the analysts anticipate the stock’s performance to be in line with the sector.

Alimentation Couche-Tard Inc (ATD:CA)

• Ratings: BUY, OUTPERFORM (multiple recommendations)
• Target Price Range: $79.00 (Low) to $94.00 (High)
• Analysts: TD Securities, RBC Capital, BMO Capital Markets

Alimentation Couche-Tard Inc has garnered multiple recommendations, including “BUY” and “OUTPERFORM.” These ratings signify that analysts from TD Securities, RBC Capital, and BMO Capital Markets anticipate strong performance for this stock.

Arc Resources Ltd (ARX:CA)

• Rating: OUTPERFORM
• Target Price Range: $23.00 (Low) to $25.00 (High)
• Analyst: National Bank

National Bank has given Arc Resources Ltd an “OUTPERFORM” rating, suggesting that the stock is expected to outperform the market.

Canadian National Railway Co (CNR:CA)

• Rating: SECTOR PERFORM
• Target Price Range: $165.00 (Low) to $175.00 (High)
• Analyst: ATB Capital

ATB Capital has rated Canadian National Railway Co as “SECTOR PERFORM,” implying that the stock is likely to perform in line with the sector.

Canadian Natural Resources Ltd (CNQ:CA)

• Rating: SECTOR PERFORM
• Target Price Range: $90.00 (Low) to $100.00 (High)
• Analyst: National Bank

National Bank has assigned a “SECTOR PERFORM” rating to Canadian Natural Resources Ltd, indicating that the stock is expected to perform in line with the sector.

CAP REIT (CAR.UN:CA)

• Rating: OUTPERFORM
• Target Price Range: $56.00 (Low) to $59.50 (High)
• Analyst: Raymond James

Raymond James has rated CAP REIT as “OUTPERFORM,” signifying that it is expected to outperform the market.

Capstone Copper Corp (CS:CA)

• Rating: OUTPERFORM
• Target Price Range: $7.75 (Low) to $8.00 (High)
• Analyst: Scotiabank

Scotiabank has given Capstone Copper Corp an “OUTPERFORM” rating, indicating that the stock is expected to perform well.

Cenovus Energy Inc (CVE:CA)

• Rating: OUTPERFORM
• Target Price Range: $31.00 (Low) to $37.00 (High)
• Analyst: National Bank

National Bank has rated Cenovus Energy Inc as “OUTPERFORM,” suggesting that it is expected to outperform the market.

Champion Iron Ltd (CIA:CA)

• Rating: OUTPERFORM
• Target Price Range: $6.50 (Low) to $7.25 (High)
• Analyst: Scotiabank

Scotiabank anticipates strong performance from Champion Iron Ltd, rating it as “OUTPERFORM.”

Crescent Point Energy Corp (CPG:CA)

• Rating: OUTPERFORM
• Target Price Range: $16.00 (Low) to $19.00 (High)
• Analyst: National Bank

National Bank has given Crescent Point Energy Corp an “OUTPERFORM” rating, indicating expectations of market outperformance.

Crew Energy Inc (CR:CA)

• Rating: SECTOR PERFORM
• Target Price Range: $6.50 (Low) to $7.00 (High)
• Analyst: National Bank

National Bank has assigned Crew Energy Inc a “SECTOR PERFORM” rating, suggesting that the stock is expected to perform in line with the sector.

Definity Financial Corporation (DFY:CA)

• Rating: OUTPERFORM
• Target Price Range: $39.00 (Low) to $42.00 (High)
• Analyst: Raymond James

Raymond James has given Definity Financial Corporation an “OUTPERFORM” rating, indicating the expectation of strong market performance.

Enerplus Corp (ERF)

• Rating: OUTPERFORM
• Target Price Range: $23.00 (Low) to $25.00 (High)
• Analyst: National Bank

Enerplus Corp receives an “OUTPERFORM” rating from National Bank, suggesting expectations of market outperformance.

Ero Copper Corp (ERO:CA)

• Rating: SECTOR PERFORM
• Target Price Range: $27.00 (Low) to $28.00 (High)
• Analyst: Scotiabank

Scotiabank has assigned Ero Copper Corp a “SECTOR PERFORM” rating, indicating that the stock is expected to perform in line with the sector.

Finning International Inc (FTT:CA)

• Target Price Range: $50.00 (Low) to $52.00 (High)
• Analyst: BMO Capital Markets

BMO Capital Markets did not provide a specific rating but has offered a target price range for Finning International Inc.

First Quantum Minerals Ltd (FM:CA)

• Rating: EQUAL-WEIGHT (Morgan Stanley), OUTPERFORM (JP Morgan)
• Target Price Range: $27.00 (Low) to $27.00 (High) (JP Morgan) / $32.00 (Low) to $31.00 (High) (Morgan Stanley)
• Analysts: Morgan Stanley, JP Morgan

First Quantum Minerals Ltd has received mixed ratings, with JP Morgan suggesting “OUTPERFORM,” and Morgan Stanley opting for an “EQUAL-WEIGHT” rating.

Franco-Nevada Corporation (FNV:CA)

• Rating: OUTPERFORM
• Target Price Range: $173.00 (Low) to $174.00 (High)
• Analyst: Raymond James

Raymond James has rated Franco-Nevada Corporation as “OUTPERFORM,” indicating expectations of strong performance.

Freehold Royalties Ltd. (FRU:CA)

• Rating: OUTPERFORM
• Target Price Range: $19.00 (Low) to $20.00 (High)
• Analyst: National Bank

Freehold Royalties Ltd., operating in the oil and gas sector, received an “OUTPERFORM” rating from National Bank. This indicates the expectation that the stock will surpass market performance.

Great-West Lifeco Inc. (GWO:CA)

• Rating: HOLD
• Target Price Range: $40.00 (Low) to $41.00 (High)
• Analyst: Desjardins Securities

Desjardins Securities issued a “HOLD” rating for Great-West Lifeco Inc. This rating suggests that the stock is expected to perform in line with market expectations, providing stability to investors.

IA Financial Corp. Inc (IAG:CA)

• Rating: HOLD
• Target Price Range: $94.00 (Low) to $95.00 (High)
• Analyst: Desjardins Securities

Desjardins Securities provided a “HOLD” rating for IA Financial Corp. Inc. This indicates an expectation that the stock will perform in line with market trends.

Imperial Oil Ltd. (IMO:CA)

• Rating: SECTOR PERFORM
• Target Price Range: $82.00 (Low) to $110.00 (High)
• Analyst: National Bank

Imperial Oil Ltd., an integrated oil company, received a “SECTOR PERFORM” rating from National Bank. This rating suggests that the stock is expected to perform in line with the overall sector, offering stability to investors.

Innergex Renewable Energy Inc (INE:CA)

• Rating: OUTPERFORM
• Target Price Range: $16.00 (Low) to $18.00 (High)
• Analyst: National Bank

Innergex Renewable Energy Inc, a company operating in the renewable energy sector, was rated as “OUTPERFORM” by National Bank. This indicates optimism regarding its market performance.

Ivanhoe Mines Ltd. (IVN:CA)

• Rating: OUTPERFORM
• Target Price Range: $14.00 (Low) to $15.00 (High)
• Analyst: Scotiabank

Scotiabank issued an “OUTPERFORM” rating for Ivanhoe Mines Ltd. This suggests expectations of a strong performance for the company.

Kelt Exploration Ltd. (KEL:CA)

• Rating: OUTPERFORM
• Target Price Range: $8.25 (Low) to $9.50 (High)
• Analyst: National Bank

National Bank issued an “OUTPERFORM” rating for Kelt Exploration Ltd. This rating reflects optimism about the company’s potential for strong performance.

Logan Energy Corp (LGN:CA)

• Rating: BUY
• Target Price: $1.50
• Analyst: Stifel Nicolaus

Logan Energy Corp, with a “BUY” rating from Stifel Nicolaus, suggests analysts have a positive outlook for this stock.

Lucero Energy Corp. (LOU:CA)

• Rating: SECTOR PERFORM
• Target Price Range: $0.90 (Low) to $1.00 (High)
• Analyst: National Bank

National Bank issued a “SECTOR PERFORM” rating for Lucero Energy Corp. This rating indicates expectations for it to perform in line with the sector.

Lundin Mining Corp (LUN:CA)

• Rating: UNDERWEIGHT (Low), NEUTRAL (High)
• Target Price Range: $8.00 (Low) to $8.40 (High)
• Analyst: JP Morgan

Lundin Mining Corp received an “UNDERWEIGHT” rating at the lower end and a “NEUTRAL” rating at the higher end of the target price range by JP Morgan. This indicates that they expect the stock to perform below market trends in their low estimate.

Manulife Financial Corp (MFC:CA)

• Rating: HOLD
• Target Price Range: $27.00 (Low) to $28.00 (High)
• Analyst: Desjardins Securities

Desjardins Securities provided a “HOLD” rating for Manulife Financial Corp. This rating suggests expectations that the stock will perform in line with market trends, offering stability to investors.

Meg Energy Corp. (MEG:CA)

• Rating: SECTOR PERFORM
• Target Price Range: $27.00 (Low) to $31.00 (High)
• Analyst: National Bank

National Bank issued a “SECTOR PERFORM” rating for Meg Energy Corp, indicating that they expect the stock to perform in line with the overall sector.

MTY Food Group Inc (MTY:CA)

• Ratings: OUTPERFORM (multiple recommendations), MARKET PERFORM, BUY
• Target Price Range: Varies by analyst and recommendation

MTY Food Group Inc received multiple ratings and recommendations. National Bank, CIBC World Markets, and Scotiabank issued “OUTPERFORM” ratings, indicating expectations of strong performance. Raymond James rated it as “MARKET PERFORM,” suggesting it will perform in line with market trends. TD Securities and Acumen Capital provided “BUY” ratings, implying positive expectations.

NuVista Energy Ltd. (NVA:CA)

• Rating: SECTOR PERFORM
• Target Price Range: $13.50 (Low) to $14.50 (High)
• Analyst: National Bank

National Bank issued a “SECTOR PERFORM” rating for NuVista Energy Ltd, suggesting expectations of it performing in line with the overall sector.

Ovintiv Inc. (OVV)

• Rating: OUTPERFORM
• Target Price Range: $59.00 (Low) to $69.00 USD (High)
• Analyst: National Bank

Ovintiv Inc, a U.S. based energy company, received an “OUTPERFORM” rating from National Bank, indicating optimism about its potential for strong performance.

Paramount Resources Ltd. (POU:CA)

• Rating: OUTPERFORM
• Target Price Range: $40.00 (Low) to $45.00 (High)
• Analyst: National Bank

National Bank issued an “OUTPERFORM” rating for Paramount Resources Ltd, suggesting positive expectations for the company’s performance.

Peyto Exploration & Development Corp. (PEY:CA)

• Rating: OUTPERFORM
• Target Price Range: $17.00 (Low) to $17.50 (High)
• Analyst: National Bank

National Bank issued an “OUTPERFORM” rating for Peyto Exploration & Development Corp., indicating optimism regarding its potential for strong performance.

PrairieSky Royalty Ltd. (PSK:CA)

• Rating: SECTOR PERFORM
• Target Price Range: $26.00 (Low) to $28.00 (High)
• Analyst: National Bank

PrairieSky Royalty Ltd., operating in the energy sector, received a “SECTOR PERFORM” rating from National Bank. This suggests that the stock is expected to perform in line with the overall sector.

Spartan Delta Corp. (SDE:CA)

• Rating: OUTPERFORM
• Target Price Range: $6.75 (Low) to $7.25 (High)
• Analyst: National Bank

National Bank issued an “OUTPERFORM” rating for Spartan Delta Corp., indicating expectations of strong performance for the company.

Spin Master Corp (TOY:CA) Spin Master Corp received multiple analyst ratings and target price ranges from different financial institutions:

• Rating: BUY
• Target Price Range: $54.00 (Stifel Nicolaus) to $60.00 (Cormark Securities)
• Analysts: Stifel Nicolaus, Cormark Securities
• Ratings: OUTPERFORM (RBC Capital and National Bank)
• Target Price Range: $44.00 (National Bank) to $51.00 (RBC Capital)
• Analysts: RBC Capital, National Bank

Spin Master Corp. received positive recommendations from Stifel Nicolaus, Cormark Securities, RBC Capital, and National Bank, suggesting an optimistic outlook for the company.

Stantec Inc (STN:CA)

• Target Price Range: $97.00 (Low) to $100.00 (High)
• Analyst: BMO Capital Markets

BMO Capital Markets issued target price adjustments for Stantec Inc. The range suggests that analysts expect the stock to perform well within the sector.

Suncor Energy Inc (SU:CA)

• Rating: OUTPERFORM
• Target Price Range: $57.00 (Low) to $74.00 (High)
• Analyst: National Bank

National Bank issued an “OUTPERFORM” rating for Suncor Energy Inc, indicating their positive expectations for the company’s performance.

Tamarack Valley Energy Ltd. (TVE:CA)

• Rating: OUTPERFORM
• Target Price Range: $6.25 (Low) to $7.00 (High)
• Analyst: National Bank

National Bank issued an “OUTPERFORM” rating for Tamarack Valley Energy Ltd., suggesting optimistic expectations for the company’s performance.

Tenaz Energy (TNZ:CA)

• Rating: BUY
• Target Price: $7.00
• Analyst: Cormark Securities

Cormark Securities issued a “BUY” rating for Tenaz Energy, indicating a positive outlook for the company.

Torex Gold Resources Inc (TXG:CA)

• Target Price Range: $21.00 (Low) to $21.50 (High)
• Analyst: CIBC World Markets

CIBC World Markets issued a target price range for Torex Gold Resources Inc. This suggests their expectations for the stock’s performance within this range.

Trilogy Metals Inc. (TMQ:CA)

• Rating: OUTPERFORM
• Target Price Range: $1.50 (Low) to $1.75 (High)
• Analyst: Raymond James

Raymond James issued an “OUTPERFORM” rating for Trilogy Metals Inc., indicating their positive outlook for the company’s performance.

Vermilion Energy Inc (VET:CA)

• Rating: OUTPERFORM
• Target Price Range: $26.00 (Low) to $24.00 (High)
• Analyst: National Bank

National Bank issued an “OUTPERFORM” rating for Vermilion Energy Inc, suggesting positive expectations for the company’s performance.

Wajax Corp (WJX:CA)

• Target Price Range: $30.00 (Low) to $31.00 (High)
• Analyst: BMO Capital Markets

BMO Capital Markets issued target price adjustments for Wajax Corp, suggesting their expectations for the stock’s performance within this range.

Whitecap Resources Inc. (WCP:CA)

• Rating: OUTPERFORM
• Target Price Range: $16.50 (Low) to $18.50 (High)
• Analyst: National Bank

National Bank issued an “OUTPERFORM” rating for Whitecap Resources Inc, indicating their optimism about the company’s potential for strong performance.

WSP Global Inc (WSP:CA)

• Target Price Range: $205.00 (Low) to $210.00 (High)
• Analyst: BMO Capital Markets

BMO Capital Markets issued target price adjustments for WSP Global Inc. This suggests their expectations for the stock’s performance within this range.

 

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