Canadian Analyst Coverage Update: Aug 11th, 2025

Analyst Ratings (Canada)

The following are today’s 215 analyst ratings coverage updates tracked for Canadian listed and traded stocks:

ADENTRA Inc. (ADEN:CA) had its target price raised to $39 by Scotiabank, while National Bank also raised its target and gave an Outperform rating with a new target price of $42.50.

AirBoss of America Corp. (BOS:CA) saw TD Securities lower its target price to $6.00 but maintained a Buy rating.

Algonquin Power & Utilities Corp. (AQN:CA) had its target price lowered to $8.00 by TD Securities with a Hold rating.

Altus Group Ltd. (AIF:CA) was given a target price increase to $53.00 by Scotiabank with a Sector Perform rating.

AtkinsRéalis Group Inc. (ATRL:CA)  TD Securities raised it to $124.00 with a Buy rating, National Bank raised to $100.00 with Sector Perform, RBC Capital raised to $112.00 with Outperform, ATB Capital raised to $115.00 with Outperform, Scotiabank raised to $113.00 with Sector Perform, and Desjardins Securities raised to $116.00 with a Buy rating.

ATS Corp. (ATS:CA) had its target price lowered by multiple analysts: Raymond James to $46.00 with an Outperform rating, RBC Capital to $49.00 with Outperform, Scotiabank to $45.00 with Sector Perform, and TD Securities to $46.00 with a Buy rating.

Aurora Cannabis (ACB:CA) was maintained at a Buy rating with a $10.00 target price by TD Securities.

Barrick Gold Corp. (ABX:CA) was maintained at Buy with a $30.00 target price by TD Securities.

BCE Inc. (BCE:CA) had its target price raised to $35.00 with a Hold rating by TD Securities, and Desjardins Securities raised its target to $40.50 with a Buy rating.

Bombardier (BBD.B:CA) saw a target price increase to $170.00 by JP Morgan.

Boralex Inc. (BLX:CA) had a mixed set of actions: Scotiabank lowered its target to $35.00 with Sector Perform, TD Securities maintained a Buy rating with a $38.00 target, CIBC lowered to $38.00 with Outperform, and National Bank lowered target to $41.00 with Outperform.

Brookfield Corp. (BN) received target price increases: RBC Capital and TD Securities raised targets to $114.00 with Outperform and Buy ratings respectively, while BMO Capital Markets raised its target to $95.00 with Outperform.

BSR REIT (HOM-U:CA) and Canadian Apartment Properties REIT (CAR-UN:CA) were maintained at Buy ratings by TD Securities with target prices of $16.00 and $52.00 respectively.

Canadian Natural Resources Ltd. (CNQ:CA) had its target price raised to $54.00 by Raymond James and to $62.00 by RBC Capital, both with Outperform ratings.

Canadian Tire Corp. Ltd. (CTC-A:CA) had mixed views: National Bank raised its target to $190.00 with Sector Perform, Scotiabank raised target to $150.00 but with an Underperform rating, BMO Capital Markets raised target to $175.00 with Market Perform, Desjardins Securities raised target to $185.00 with a Buy rating, and TD Securities raised target to $184.00 with a Hold rating.

Cargojet Inc. (CJT:CA) had multiple target price changes: TD Securities raised target to $160.00 with Buy, ATB Capital to $145.00 with Outperform, Scotiabank to $140.00 with Outperform, Stifel Nicolaus to $130.00 with Buy, and Acumen Capital lowered the target to $170.00 but maintained a Buy rating.

Cascades Inc. (CAS:CA) had its target price raised by Scotiabank to $12.00 and RBC Capital raised it to $11.00 with a Sector Perform rating.

Cascades Inc. (CAS:CA) had its target price raised to $10.00 with a Hold rating by TD Securities, while Desjardins Securities lowered the target slightly to $10.50, maintaining Hold.

CCL Industries Inc. (CCL-B:CA) was maintained at an Outperform rating with a $93.00 target by CIBC.

Centerra Gold Inc. (CG:CA) had its target raised to $10.00 with a Market Perform rating by BMO Capital Markets.

CES Energy Solutions Corp. (CEU:CA) saw its target raised to $9.50 by Scotiabank.

Chartwell Retirement Residences (CSH-UN:CA) had multiple target changes: Scotiabank raised target to $22.00, TD Securities maintained the Buy rating but lowered to $21.00.  CIBC raised to $21.00 with Outperform, Desjardins Securities raised to $22.00 with Buy, RBC Capital raised to $21.00 with Outperform.

Constellation Software Inc. (CSU:CA) had mixed actions: BMO Capital Markets lowered target to $5,400.00, TD Securities raised target to $5,700.00 with Buy, CIBC maintained Outperform at $5,450.00, and RBC Capital raised target to $6,000.00 with Outperform.

CT REIT (CRT.UN:CA) was raised to $17.00 with a Sector Perform rating by RBC Capital.

Decisive Dividend Corp. (DE:CA) was downgraded to Hold with an $8.00 target by Canaccord Genuity.

Denison Mines Corp. (DML:CA) had its target raised to $3.75 with a Buy rating by TD Securities.

Dentalcorp Holdings Ltd. (DNTL:CA) maintained a Buy rating with a $13.00 target from TD Securities.

Docebo Inc. (DCBO:CA) had its target raised to $50.00 by ATB Capital.

Doman Building Materials Group Ltd. (DBM:CA) saw a target increase to $11.00 with a Buy rating by TD Securities.

Dream Office REIT (D-UN:CA) maintained a Neutral rating with a $17.50 target by CIBC.

Dream Residential REIT (DDR-U:CA) was maintained at Buy with an $11.00 target by TD Securities.

ECN Capital Corp. (ECN:CA) had its target raised to $3.25 with a Market Perform rating by Raymond James.

Eldorado Gold Corporation (ELD:CA) saw a target price increase to $35.00 by Scotiabank.

Element Fleet Management Corp. (EFN:CA) had target price increases from BMO Capital Markets ($40.00, Outperform) and RBC Capital ($47.00, Outperform).

Emera Inc. (EMA:CA) had mixed actions: BMO Capital Markets lowered target to $68.00, TD Securities raised it to $74.00 with Buy, RBC Capital and Scotiabank raised targets to $70.00 with Outperform, Raymond James raised to $70.00 with Outperform, CIBC World Markets downgraded to Neutral with a $68.00 target, and National Bank raised target to $62.00 with Sector Perform.

Enerflex Ltd. (EFX:CA) had target increases from RBC Capital ($18.00, Outperform), ATB Capital ($19.00, Outperform), TD Securities ($17.00, Buy), BMO Capital Markets ($16.00, Outperform), and Raymond James ($18.25, Outperform).

Ensign Energy Services Inc. (ESI:CA) was maintained at Hold with a $2.25 target by TD Securities.

Equinox Gold Corp. (EQX:CA) was maintained at Buy with a $12.00 target by TD Securities.

Extendicare Inc. (EXE:CA) maintained a Hold rating with a $15.00 target by TD Securities, while National Bank raised the target to $16.10 with Outperform.

Fiera Capital Corp. (FSZ:CA) had its target raised to $8.00 with a Sector Perform rating by Scotiabank.

Flagship Communities REIT (MHC-U:CA) had its target price raised to $23.00 with an Outperform rating by both National Bank and RBC Capital, while Raymond James raised its target to $22.75 with a Strong Buy rating.

Franco-Nevada Corp. (FNV:CA) was maintained at Hold with a $152 target price by TD Securities.

GDI Integrated Facility Services Inc. (GDI:CA) saw multiple downgrades and target decreases: Scotiabank lowered its target to $33.00, TD Securities downgraded to Hold with a $30.00 target, and National Bank lowered the target to $33.00 with Sector Perform.

Goeasy Ltd. (GSY:CA) had its target price increased to $232.00 with an Outperform rating by BMO Capital Markets, and to $235.00 with a Sector Perform rating by Scotiabank.

Granite REIT (GRT-UN:CA) had its target raised by several analysts: TD Securities and Scotiabank to $85.00, Raymond James to $87.50, and RBC Capital to $88.00 with Outperform.

IGM Financial Inc. (IGM:CA) had its target price increased by TD Securities to $57.00 with Buy, National Bank to $58.00 with Outperform, RBC Capital to $49.00 with Sector Perform, and BMO Capital Markets to $49.00 with Market Perform.

Illumin Holdings Inc. (ILLM:CA) had its target price lowered to $3.00 with a Buy rating by both CIBC and TD Securities.

Interfor Corp. (IFP:CA) was downgraded to Sector Perform with a target of $18.00 by Scotiabank.

InterRent REIT (IIP.UN:CA) was downgraded to Sell with a target price of $13.55 by Desjardins Securities.

Jamieson Wellness Inc. (JWEL:CA) had target price increases from TD Securities ($45.00, Buy), National Bank ($40.60, Outperform), and BMO Capital Markets ($42.00, Outperform).

K92 Mining Inc. (KNT:CA) was maintained at Buy with a $19.00 target by TD Securities.

Killam Apartment REIT (KMP.UN:CA) had its target raised to $22.00 with a Buy rating by TD Securities.

Kinaxis Inc. (KXS:CA) had target increases from RBC Capital to $235.00 and Scotiabank to $240.00 with an Outperform rating.

Lassonde Industries Inc. (LAS.A:CA) was given a Buy rating with a $255.00 target by Stifel Nicolaus.

Leon Furniture Ltd. (LNF:CA) had mixed ratings: BMO Capital Markets raised its target to $32.00 with Market Perform, Stifel Nicolaus gave a Hold rating with a $30.00 target, National Bank raised target to $35.00 with Outperform, and RBC Capital raised to $35.00 with Outperform.

Lundin Mining Corp. (LUN:CA) had its target price increased to $18.00 with a Buy rating by TD Securities.

Mainstreet Equity Corp. (MEQ:CA) had its target raised to $235.00 with an Outperform rating by ATB Capital.

Manulife Financial Corp. (MFC:CA) was downgraded by RBC Capital with an Outperform rating and a target lowered to $49.00.

Maple Leaf Foods Inc. (MFI:CA) had several target price increases: RBC Capital to $38.00 with Outperform, Stifel Nicolaus to $40.50 with Buy, National Bank to $36.00 with Outperform, TD Securities to $42.00 with Buy, and Scotiabank with Sector Perform at $35.00.

NexGen Energy Ltd. (NXE:CA) had its target raised to $12.00 with a Buy rating by TD Securities.

Nutrien Ltd. (NTR:CA) Scotiabank lowered its target to $82.00, while TD Securities raised it to $99.00 with a Buy rating.

OceanaGold Corp. (OGC:CA) had its target raised to $28.00 with an Outperform rating by RBC Capital.

Onex Corp. (ONEX:CA) had its target raised to $140.00 with Outperform by Scotiabank and to $148.00 with Buy by TD Securities.

Pembina Pipeline Corp. (PPL:CA) was maintained at Hold with a $52.00 target by Morningstar, while BMO Capital Markets and Raymond James raised their targets to $57.00 and $64.00 respectively, both with Outperform ratings.

Pizza Pizza Royalty Corp. (PZA:CA) had its target price raised to $17.00 by TD Securities, maintaining a Hold rating.

Plaza Retail REIT (PLZ-UN:CA) had its target raised to $4.50 with a Neutral rating by CIBC.

Power Corporation of Canada (POW:CA) saw multiple target increases: TD Securities raised it to $62.00 with Buy, Scotiabank to $65.00 with Outperform, Desjardins Securities to $60.00 with Buy, and RBC Capital to $58.00 with Sector Perform. However, Jefferies downgraded POW:CA to Hold with a $60.00 target.

Quebecor Inc. (QBR-B:CA) had its target raised to $43.00 with a Buy rating by Desjardins Securities.

Restaurant Brands International (QSR:CA) had target increases from RBC Capital ($106.00, Outperform), Barclays Capital ($107.00, Overweight), Citigroup ($99.00, Neutral), and Scotiabank ($98.00).

RioCan REIT (REI-UN-T) was downgraded by Scotiabank with its target reduced to $20.00.

Russel Metals Inc. (RUS:CA) had its target lowered to $50.00 with a Buy rating by TD Securities and to $49.00 with Buy by Stifel Nicolaus.

Saputo Inc. (SAP:CA) saw target increases from BMO Capital Markets ($34.00), Scotiabank ($36.00, Outperform), TD Securities ($38.00, Buy), CIBC ($36.00, Outperform), RBC Capital ($37.00, Outperform), National Bank ($35.00, Outperform), and Desjardins Securities ($36.00, Buy).

Savaria Corporation (SIS:CA) had a target raised to $25.00 by Scotiabank and to $26.00 with Outperform by National Bank.

SmartCentres REIT (SRU-UN:CA) was maintained at Outperform with a $30.00 target by CIBC, while National Bank raised its target to $25.25 with Sector Perform.

South Bow Corp. (SOBO:CA) had target increases from RBC Capital ($39.00, Outperform), National Bank ($35.00, Sector Perform), and ATB Capital ($35.00, Sector Perform).

Spin Master Corp. (TOY:CA) was maintained as Strong Buy with a $36.00 target by Morningstar.

Stella-Jones Inc. (SJ:CA) had mixed moves: Scotiabank lowered its target to $81.00, CIBC lowered to $89.00 with Outperform, Desjardins Securities raised to $89.00 with Buy, National Bank raised to $92.00 with Outperform, and RBC Capital lowered to $78.00 with Sector Perform.

Sun Life Financial Inc. (SLF:CA) saw target downgrades by RBC Capital ($84.00), Scotiabank ($83.00), and Desjardins Securities lowered to $90.00 but maintained the Buy rating. National Bank raised its target to $87.00 with Sector Perform.

Torex Gold Resources Inc. (TXG:CA) had its target raised to $62.00 with Buy by TD Securities.

Triple Flag Precious Metals Corp. (TFPM:CA) had its target raised to $38.00 by Raymond James.

Trisura Group Ltd. (TSU:CA) had its target raised by Cormark Securities to $57.00, by Desjardins Securities to $54.00 with Buy, and by RBC Capital to $55.00 with Outperform.

Vermilion Energy Inc. (VET:CA) was raised to $12.00 with Market Perform by BMO Capital Markets.

Vitalhub Corp. (VHI:CA) had its target raised to $16.00 with Buy by TD Securities.

Wajax Corp. (WJX:CA) had conflicting targets: TD Securities lowered target to $24.00 with Hold but also showed a $25.00 Hold target up.

Western Forest Products Inc. (WEF:CA) had mixed ratings: Raymond James raised target to $10.00, Scotiabank lowered it to $12.50, and TD Securities maintained Hold at $14.00.

WSP Global Inc. (WSP:CA) had multiple target increases: National Bank raised to $297.00, ATB Capital to $305.00 with Sector Perform, RBC Capital to $293.00 with Outperform, and Desjardins Securities to $313.00 with Buy.

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