Analyst Ratings (Canada)
Air Canada (AC:CA): RBC Capital cut its target price on Air Canada to $25.00 but maintained an “Outperform” rating, noting near-term earnings headwinds tied to labor disputes and fuel costs. National Bank also reaffirmed an “Outperform” view with a $26.00 target, suggesting confidence in the airline’s recovery trajectory as international travel demand remains resilient.
Alimentation Couche-Tard Inc. (ATD:CA): BMO Capital Markets raised its price target to $75.00, maintaining a “Market Perform” rating. The firm expects steady earnings supported by fuel sales and convenience store strength, though competition and currency effects remain watchpoints.
Arizona Metals Corp. (AMC:CA): Scotiabank lowered its target to $1.50 with a “Sector Perform” rating, reflecting challenges in advancing exploration projects and recent weakness in precious metals pricing.
Artemis Gold Inc. (ARTG:CA): RBC Capital boosted its target to $38.00, reiterating an “Outperform” rating, citing progress at the Blackwater project and supportive gold pricing that enhances future cash flow potential.
Bank of Montreal (BMO:CA): CIBC World Markets raised its target to $173.00, though it maintained a “Negative” stance, reflecting concerns over loan growth, net interest margin pressure, and higher credit risks in the current macro environment.
Bank of Nova Scotia (BNS:CA): CIBC World Markets lifted its target to $90.00 while keeping a “Neutral” rating, pointing to limited near-term catalysts and ongoing challenges in international operations.
BRP Inc. (DOO:CA):
TD Securities lifted its target to $87.00 with a “Buy” rating.
Desjardins raised its target to $97.00, also with a “Buy”.
Stifel Nicolaus increased to $88.00 with a “Buy”.
National Bank set a $83.00 target with a “Sector Perform”.
CIBC World Markets maintained a Hold rating with a target of $66.00.
Canaccord Genuity Group Inc. (CF:CA): TD Securities maintained a “Buy” rating with a $12.00 target, supported by strong capital markets activity and improved cost discipline.
Chemtrade Logistics Income Fund (CHE-UN:CA): CIBC raised its target to $15.00 with an “Outperform” rating, citing stronger chemical demand and improved pricing.
Dayforce Inc. (DAY:CA): Morningstar maintained its “Underperform” rating with a $65.00 target, pointing to elevated competition and limited margin expansion.
Dollarama Inc. (DOL:CA): National Bank increased its target to $213.00, reaffirming an “Outperform” rating, citing strong same-store sales, resilient margins, and international growth via Dollarcity.
Dream Impact Trust (MPCT-UN:CA): TD Securities lowered its target to $1.75 while maintaining a “Hold” rating, citing weak real estate market fundamentals and project timing risks.
First Quantum Minerals Ltd. (FM:CA): Desjardins raised its target to $26.00 with a “Hold” rating, pointing to stabilization in copper markets but maintaining caution due to geopolitical risks.
Gibson Energy Inc. (GEI:CA): JP Morgan lifted its target to $25.00 but kept an “Underweight” rating, reflecting ongoing structural challenges despite stable cash flows.
GO Residential REIT (GO-U:CA): Analysts were divided:
National Bank assigned an “Outperform” rating with a $15.00 target.
CIBC was more bullish with an “Outperform” at $24.00, citing potential for rental growth and real estate portfolio stability.
Laurentian Bank of Canada (LB:CA): CIBC raised its target to $35.00 with a “Neutral” rating, highlighting modest recovery efforts but limited growth catalysts.
Lithium Royalty Corp. (LIRC:CA): Scotiabank raised its target to $7.50 while maintaining a “Sector Perform” rating, reflecting balanced long-term opportunities in the lithium sector but short-term pricing headwinds.
Loblaw Companies Ltd. (L:CA): National Bank adjusted its target to $60.00, reflecting steady grocery and pharmacy demand in a competitive retail environment.
Lundin Mining Corp. (LUN:CA): Morgan Stanley raised its target to $14.50, citing improved copper pricing dynamics and supportive supply-demand fundamentals.
Marimaca Copper Corp. (MARI:CA): BMO Capital Markets raised its target to $12.00, reflecting continued progress at the Marimaca project in Chile.
National Bank of Canada (NA:CA): CIBC raised its target to $151.00 while keeping a “Neutral” rating, highlighting stable earnings momentum but limited upside relative to peers.
Quebecor Inc. (QBR-B:CA): Morningstar maintained a “Hold” rating with a $42.00 target, pointing to stable telecom operations but limited growth catalysts.
Royal Bank of Canada (RY:CA): CIBC raised its target to $195.00 with an “Outperform” rating, citing strong earnings visibility, balance sheet strength, and growth across wealth management and capital markets.
Thesis Gold Inc. (TAU:CA): Scotiabank maintained an “Outperform” rating with a $2.25 target, reflecting exploration potential and leverage to gold prices.
Thomson Reuters Corp. (TRI:CA): CIBC set a target of $278.00 with an “Outperform” rating, noting steady growth in legal and tax software and improving recurring revenues.
Toronto-Dominion Bank (TD:CA): CIBC raised its target to $109.00, maintaining an “Outperform” rating, citing strong retail banking performance and growth in U.S. operations.
Zedcor Inc. (ZDC:CA): Stifel Nicolaus set a target of $7.00 with a “Buy” rating, pointing to strong growth potential in security and surveillance services.
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