Canadian Analyst Coverage Update: Aug 5th, 2025

5N Plus Inc. (VNP:CA) – Desjardins Securities raised the target with a BUY rating and a target price of $14.00.

Aecon Group Inc. (ARE:CA) – Desjardins Securities lowered the target with a BUY rating and a target price of $22.00.

Aecon Group Inc. (ARE:CA) – TD Securities raised the target with a BUY rating and a target price of $23.00.

Aecon Group Inc. (ARE:CA) – ATB Capital lowered the target with an OUTPERFORM rating and a target price of $28.00.

Aecon Group Inc. (ARE:CA) – CIBC maintained an OUTPERFORM rating with a target price of $24.00.

Ag Growth International Inc. (AFN:CA) – Desjardins Securities raised the target with a BUY rating and a target price of $49.00.

Ag Growth International Inc. (AFN:CA) – Raymond James raised the target with an OUTPERFORM rating and a target price of $52.00.

Ag Growth International Inc. (AFN:CA) – TD Securities raised the target with a BUY rating and a target price of $57.00.

Ag Growth International Inc. (AFN:CA) – CIBC raised the target with an OUTPERFORM rating and a target price of $58.00.

Alamos Gold Inc. (AGI:CA) – TD Securities lowered the target with a BUY rating and a target price of $47.00.

Allied Properties REIT (AP-UN:CA) – RBC Capital raised the target with a SECTOR PERFORM rating and a target price of $18.00.

Allied Properties (AP-UN:CA) – Scotiabank maintained an OUTPERFORM rating with a target price of $18.75.

AltaGas Ltd. (ALA:CA) – ATB Capital raised the target with an OUTPERFORM rating and a target price of $43.00.

AltaGas Ltd. (ALA:CA) – RBC Capital raised the target with an OUTPERFORM rating and a target price of $44.00.

AltaGas Ltd. (ALA:CA) – National Bank raised the target with an OUTPERFORM rating and a target price of $45.00.

AltaGas Ltd. (ALA:CA) – Scotiabank raised the target with an OUTPERFORM rating and a target price of $46.00.

AltaGas Ltd. (ALA:CA) – TD Securities raised the target with a BUY rating and a target price of $48.00.

AltaGas Ltd. (ALA:CA) – CIBC maintained an OUTPERFORM rating with a target price of $44.00.

Andlauer Healthcare Group Inc. (AND:CA) – TD Securities maintained a SELL rating with a target price of $55.00.

ATCO Ltd. (ACO-X:CA) – TD Securities lowered the target with a HOLD rating and a target price of $55.00.

ATS Corporation (ATS:CA) – TD Securities maintained a BUY rating with a target price of $49.00.

Badger Infrastructure Solutions Ltd. (BDGI:CA) – Stifel Nicolaus raised the target with a BUY rating and a target price of $63.00.

BCE Inc. (BCE:CA) – BMO Capital Markets lowered the target with a MARKET PERFORM rating and a target price of $35.00.

BCE Inc. (BCE:CA) – Canaccord Genuity lowered the target with a HOLD rating and a target price of $49.00.

BCE Inc. (BCE:CA) – National Bank maintained a SECTOR PERFORM rating with a target price of $51.00.

BCE Inc. (BCE:CA) – RBC Capital maintained a SECTOR PERFORM rating with a target price of $52.00.

BCE Inc. (BCE:CA) – TD Securities maintained a HOLD rating with a target price of $51.00.

BCE Inc. (BCE:CA) – Scotiabank maintained a SECTOR PERFORM rating with a target price of $51.50.

BCE Inc. (BCE:CA) – CIBC maintained a NEUTRAL rating with a target price of $50.00.

Boralex Inc. (BLX:CA) – Desjardins Securities raised the target with a BUY rating and a target price of $43.00.

Boralex Inc. (BLX:CA) – TD Securities raised the target with a BUY rating and a target price of $44.00.

Boralex Inc. (BLX:CA) – National Bank raised the target with an OUTPERFORM rating and a target price of $45.00.

Brookfield Asset Management Ltd. (BAM:CA) – RBC Capital maintained an OUTPERFORM rating with a target price of $50.00.

Brookfield Corp. (BN:CA) – RBC Capital raised the target with an OUTPERFORM rating and a target price of $55.00.

CAE Inc. (CAE:CA) – RBC Capital maintained an OUTPERFORM rating with a target price of $34.00.

Canadian Apartment Properties REIT (CAR-UN:CA) – Canaccord Genuity maintained a BUY rating with a target price of $55.00.

Canadian Imperial Bank of Commerce (CM:CA) – Scotiabank maintained a SECTOR PERFORM rating with a target price of $70.00.

Canadian Natural Resources Limited (CNQ:CA) – TD Securities maintained a BUY rating with a target price of $110.00.

Canadian Utilities Ltd. (CU:CA) – TD Securities maintained a HOLD rating with a target price of $40.00.

Capstone Copper Corp. (CS:CA) – Canaccord Genuity raised the target with a BUY rating and a target price of $10.00.

Capstone Copper Corp. (CS:CA) – National Bank raised the target with an OUTPERFORM rating and a target price of $10.25.

Capstone Copper Corp. (CS:CA) – BMO Capital Markets maintained an OUTPERFORM rating with a target price of $9.00.

Cargojet Inc. (CJT:CA) – National Bank lowered the target with a SECTOR PERFORM rating and a target price of $140.00.

Cargojet Inc. (CJT:CA) – TD Securities maintained a HOLD rating with a target price of $145.00.

Cargojet Inc. (CJT:CA) – CIBC maintained a NEUTRAL rating with a target price of $150.00.

Cascades Inc. (CAS:CA) – Desjardins Securities raised the target with a HOLD rating and a target price of $13.50.

Cascades Inc. (CAS:CA) – TD Securities raised the target with a BUY rating and a target price of $14.00.

Cascades Inc. (CAS:CA) – National Bank raised the target with an OUTPERFORM rating and a target price of $14.50.

Cascades Inc. (CAS:CA) – RBC Capital raised the target with a SECTOR PERFORM rating and a target price of $14.00.

Cascades Inc. (CAS:CA) – CIBC raised the target with a NEUTRAL rating and a target price of $13.00.

CCL Industries Inc. (CCL-B:CA) – CIBC maintained an OUTPERFORM rating with a target price of $79.00.

CCL Industries Inc. (CCL-B:CA) – TD Securities maintained a BUY rating with a target price of $82.00.

CCL Industries Inc. (CCL-B:CA) – Scotiabank maintained an OUTPERFORM rating with a target price of $83.00.

CCL Industries Inc. (CCL-B:CA) – National Bank maintained an OUTPERFORM rating with a target price of $84.00.

Centerra Gold Inc. (CG:CA) – National Bank lowered the target with a SECTOR PERFORM rating and a target price of $8.25.

Centerra Gold Inc. (CG:CA) – Canaccord Genuity maintained a HOLD rating with a target price of $9.00.

Centerra Gold Inc. (CG:CA) – CIBC maintained a NEUTRAL rating with a target price of $8.00.

CGI Inc. (GIB-A:CA) – National Bank maintained an OUTPERFORM rating with a target price of $175.00.

CGI Inc. (GIB-A:CA) – TD Securities maintained a BUY rating with a target price of $180.00.

CGI Inc. (GIB-A:CA) – CIBC maintained an OUTPERFORM rating with a target price of $185.00.

CGI Inc. (GIB-A:CA) – RBC Capital maintained an OUTPERFORM rating with a target price of $186.00.

CGI Inc. (GIB-A:CA) – Scotiabank maintained an OUTPERFORM rating with a target price of $190.00.

Chartwell Retirement Residences (CSH-UN:CA) – National Bank maintained a SECTOR PERFORM rating with a target price of $13.50.

Chartwell Retirement Residences (CSH-UN:CA) – CIBC maintained a NEUTRAL rating with a target price of $13.00.

Chartwell Retirement Residences (CSH-UN:CA) – TD Securities maintained a HOLD rating with a target price of $13.00.

Chartwell Retirement Residences (CSH-UN:CA) – RBC Capital maintained a SECTOR PERFORM rating with a target price of $13.50.

Chartwell Retirement Residences (CSH-UN:CA) – Scotiabank maintained a SECTOR PERFORM rating with a target price of $14.00.

Chemtrade Logistics Income Fund (CHE-UN:CA) – TD Securities maintained a BUY rating with a target price of $11.00.

Chemtrade Logistics Income Fund (CHE-UN:CA) – National Bank maintained an OUTPERFORM rating with a target price of $11.50.

Chemtrade Logistics Income Fund (CHE-UN:CA) – Scotiabank maintained a SECTOR PERFORM rating with a target price of $10.50.

Chemtrade Logistics Income Fund (CHE-UN:CA) – RBC Capital maintained a SECTOR PERFORM rating with a target price of $10.75.

Chemtrade Logistics Income Fund (CHE-UN:CA) – CIBC maintained a NEUTRAL rating with a target price of $10.25.

Chemtrade Logistics Income Fund (CHE-UN:CA) – Canaccord Genuity maintained a HOLD rating with a target price of $10.00.

Cineplex Inc. (CGX:CA) – National Bank maintained a SECTOR PERFORM rating with a target price of $15.00.

Cineplex Inc. (CGX:CA) – TD Securities maintained a HOLD rating with a target price of $15.50.

Cineplex Inc. (CGX:CA) – RBC Capital maintained a SECTOR PERFORM rating with a target price of $15.25.

Cineplex Inc. (CGX:CA) – CIBC maintained a NEUTRAL rating with a target price of $15.00.

Consolidated Edison, Inc. (ED:CA) – TD Securities maintained a BUY rating with a target price of $75.00.

Consolidated Edison, Inc. (ED:CA) – RBC Capital maintained an OUTPERFORM rating with a target price of $76.00.

Consolidated Edison, Inc. (ED:CA) – National Bank maintained an OUTPERFORM rating with a target price of $77.00.

Constellation Software Inc. (CSU:CA) – TD Securities maintained a BUY rating with a target price of $5,450.00.

Constellation Software Inc. (CSU:CA) – CIBC maintained an OUTPERFORM rating with a target price of $5,400.00.

Corby Spirit and Wine Ltd. (CSW-A:CA) – National Bank maintained a BUY rating with a target price of $55.00.

Corby Spirit and Wine Ltd. (CSW-A:CA) – TD Securities maintained a BUY rating with a target price of $56.00.

Corby Spirit and Wine Ltd. (CSW-A:CA) – RBC Capital maintained an OUTPERFORM rating with a target price of $57.00.

Crescent Point Energy Corp. (CPG:CA) – Canaccord Genuity maintained a BUY rating with a target price of $10.00.

Crescent Point Energy Corp. (CPG:CA) – TD Securities maintained a BUY rating with a target price of $10.50.

Crescent Point Energy Corp. (CPG:CA) – National Bank maintained an OUTPERFORM rating with a target price of $11.00.

Crescent Point Energy Corp. (CPG:CA) – RBC Capital maintained an OUTPERFORM rating with a target price of $11.25.

Crescent Point Energy Corp. (CPG:CA) – Scotiabank maintained a SECTOR PERFORM rating with a target price of $10.75.

Creston Valley Fertilizers Ltd. (CFV:CA) – CIBC maintained a NEUTRAL rating with a target price of $9.00.

Creston Valley Fertilizers Ltd. (CFV:CA) – National Bank maintained a HOLD rating with a target price of $9.25.

Dundee Precious Metals Inc. (DPM:CA) – Desjardins Securities maintained a BUY rating with a target price of $20.00.

Dundee Precious Metals Inc. (DPM:CA) – TD Securities maintained a BUY rating with a target price of $21.00.

Dundee Precious Metals Inc. (DPM:CA) – RBC Capital maintained an OUTPERFORM rating with a target price of $22.00.

Dundee Precious Metals Inc. (DPM:CA) – Scotiabank maintained an OUTPERFORM rating with a target price of $21.50.

Dundee Precious Metals Inc. (DPM:CA) – National Bank maintained an OUTPERFORM rating with a target price of $22.50.

Enbridge Inc. (ENB:CA) – TD Securities maintained a BUY rating with a target price of $69.00.

Enbridge Inc. (ENB:CA) – National Bank maintained a SECTOR PERFORM rating with a target price of $65.00.

Enbridge Inc. (ENB:CA) – ATB Capital maintained an OUTPERFORM rating with a target price of $67.00.

Ero Copper Corp. (ERO:CA) – Desjardins Securities lowered the target with a HOLD rating and a target price of $23.00.

Ero Copper Corp. (ERO:CA) – TD Securities maintained a BUY rating with a target price of $24.00.

Ero Copper Corp. (ERO:CA) – Stifel Nicolaus lowered the target with a BUY rating and a target price of $26.00.

Fairfax Financial Holdings Ltd. (FFH:CA) – RBC Capital maintained an OUTPERFORM rating with a target price of $2,200.00.

Fairfax Financial Holdings Ltd. (FFH:CA) – Scotiabank maintained an OUTPERFORM rating with a target price of $2,900.00.

Fortis Inc. (FTS:CA) – National Bank maintained a SECTOR PERFORM rating with a target price of $67.00.

Fortis Inc. (FTS:CA) – Raymond James maintained an OUTPERFORM rating with a target price of $72.00.

Fortis Inc. (FTS:CA) – Desjardins Securities upgraded to a BUY rating with a target price of $76.00.

Fortis Inc. (FTS:CA) – TD Securities maintained a BUY rating with a target price increase to $77.00 from $74.00.

GFL Environmental Inc. (GFL:CA) – ATB Capital maintained an OUTPERFORM rating with a target price of $82.00.

GFL Environmental Inc. (GFL:CA) – RBC Capital maintained an OUTPERFORM rating with a target price of $81.00.

GFL Environmental Inc. (GFL:CA) – Truist Securities maintained a BUY rating with a target price of $82.00.

GFL Environmental Inc. (GFL:CA) – Scotiabank maintained an OUTPERFORM rating with a target price of $82.00.

GFL Environmental Inc. (GFL:CA) – National Bank maintained an OUTPERFORM rating with a target price of $110.00.

Gildan Activewear Inc. (GIL:CA) – Barclays Capital maintained an OVERWEIGHT rating with a target price of $77.00.

Gildan Activewear Inc. (GIL:CA) – Scotiabank maintained an OUTPERFORM rating with a target price of $81.00.

Gildan Activewear Inc. (GIL:CA) – RBC Capital maintained an OUTPERFORM rating with a target price of $84.00.

Gildan Activewear Inc. (GIL:CA) – National Bank maintained an OUTPERFORM rating with a target price of $110.00.

Gran Tierra Energy Inc. (GTE:CA) – RBC Capital lowered the target with a SECTOR PERFORM rating and a target price of $8.50.

Groupe Dynamite Inc. (GRGD:CA) – Desjardins Securities raised the target with a BUY rating and a target price of $36.00.

Information Services Corp. (ISC:CA) – RBC Capital maintained a SECTOR PERFORM rating with a target price of $32.00.

Imperial Oil Limited (IMO:CA) – Scotiabank maintained a SECTOR PERFORM rating with a target price of $110.00.

Killam Apartment REIT (KMP-UN:CA) – Canaccord Genuity downgraded to a HOLD rating with a target price of $20.00.

Kinross Gold Corp. (K:CA) – National Bank maintained an OUTPERFORM rating with a target price of $28.00.

Lightspeed Commerce Inc. (LSPD:CA) – Cormark Securities raised the target price to $25.00.

Lightspeed Commerce Inc. (LSPD:CA) – ATB Capital maintained a SECTOR PERFORM rating with a target price of $18.00.

Lightspeed Commerce Inc. (LSPD:CA) – Stifel Nicolaus maintained a HOLD rating with a target price of $19.00.

Lightspeed Commerce Inc. (LSPD:CA) – National Bank maintained a SECTOR PERFORM rating with a target price of $20.00.

Lightspeed Commerce Inc. (LSPD:CA) – Barclays Capital maintained an EQUAL-WEIGHT rating with a target price of $20.00.

Lightspeed Commerce Inc. (LSPD:CA) – Raymond James maintained an OUTPERFORM rating with a target price of $23.00.

Lumine Group Inc. (LMN:CA) – TD Securities maintained a BUY rating with a target price of $59.00.

Lumine Group Inc. (LMN:CA) – RBC Capital maintained an OUTPERFORM rating with a target price of $62.00.

Lundin Gold (LUG:CA) – Scotiabank maintained a SECTOR PERFORM rating with a target price of $50.00.

Magna International Inc. (MG:CA) – TD Securities maintained a BUY rating with a target price of $71.00.

Magna International Inc. (MG:CA) – Scotiabank maintained a SECTOR PERFORM rating with a target price of $69.00.

Maple Leaf Foods Inc. (MFI:CA) – RBC Capital maintained an OUTPERFORM rating with a target price of $35.00.

MDA Space Inc. (MDA:CA) – BMO Capital Markets maintained an OUTPERFORM rating with a target price of $53.00.

MDA Space Inc. (MDA:CA) – RBC Capital maintained an OUTPERFORM rating with a target price of $53.00.

MDA Space Inc. (MDA:CA) – Desjardins Securities maintained a BUY rating with a target price of $55.00.

MDA Space Inc. (MDA:CA) – Scotiabank maintained an OUTPERFORM rating with a target price of $55.00.

Methanex Corp. (MX:CA) – RBC Capital upgraded to an OUTPERFORM rating from SECTOR PERFORM.

Metro Inc. (MRU:CA) – National Bank maintained a SECTOR PERFORM rating with a target price of $111.00.

Metro Inc. (MRU:CA) – BMO Capital Markets maintained an OUTPERFORM rating with a target price of $115.00.

Minto Apartment REIT (MI-UN:CA) – Canaccord Genuity maintained a target price of $16.50.

Morguard REIT (MRT-UN:CA) – TD Securities maintained a HOLD rating with a target price of $5.00.

Morguard REIT (MRT-UN:CA) – Scotiabank maintained a SECTOR PERFORM rating with a target price of $5.50.

Morguard Residential REIT (MRG-UN:CA) – Desjardins Securities maintained a target price of $22.00.

Morguard Residential REIT (MRG-UN:CA) – TD Securities maintained a BUY rating with a target price of $23.00.

NFI Group Inc. (NFI:CA) – Stifel Nicolaus maintained a BUY rating with a target price of $23.00.

NFI Group Inc. (NFI:CA) – Scotiabank maintained an OUTPERFORM rating with a target price of $23.00.

NFI Group Inc. (NFI:CA) – CIBC maintained an OUTPERFORM rating with a target price of $23.00.

Northview Residential REIT (NRR.UN:CA) – Scotiabank maintained an OUTPERFORM rating with a target price of $21.00.

Nutrien Ltd. (NTR:CA) – TD Securities maintained a BUY rating with a target price of $96.00.

Primaris REIT (PMZ.UN:CA) – TD Securities maintained a BUY rating with a target price of $18.00.

Primaris REIT (PMZ-UN:CA) – Scotiabank maintained a SECTOR PERFORM rating with a target price of $17.50.

Real Matters Inc. (REAL:CA) – National Bank downgraded to a SECTOR PERFORM rating with a target price of $5.75.

Real Matters Inc. (REAL:CA) – Canaccord Genuity downgraded to a BUY rating with a target price of $7.00.

Real Matters Inc. (REAL:CA) – Raymond James downgraded to an OUTPERFORM rating with a target price of $7.50.

Real Matters Inc. (REAL:CA) – ATB Capital downgraded to an OUTPERFORM rating with a target price of $10.50.

Spin Master Corp (TOY:CA) – Stifel Nicolaus downgraded to a HOLD rating with a target price of $25.00.

Spin Master Corp. (TOY:CA) – Canaccord Genuity downgraded to a HOLD rating with a target price of $24.00.

Spin Master Corp. (TOY:CA) – TD Securities upgraded to a BUY rating with a target price of $31.00.

TC Energy Corp. (TRP:CA) – National Bank maintained an OUTPERFORM rating with a target price of $76.00.

TELUS Corp. (T:CA) – TD Securities maintained a BUY rating with a target price of $25.00.

TerraVest Industries Inc. (TVK:CA) – National Bank downgraded to an OUTPERFORM rating with a target price of $200.00.

TFI International Inc. (TFII:CA) – Citigroup maintained a BUY rating with a target price of $148.00.

TMX Group Ltd. (X:CA) – TD Securities maintained a HOLD rating with a target price of $58.00.

TMX Group Ltd. (X:CA) – National Bank maintained a SECTOR PERFORM rating with a target price of $59.00.

TMX Group Ltd. (X:CA) – Raymond James maintained an OUTPERFORM rating with a target price of $62.50.

TMX Group Ltd. (X:CA) – Scotiabank maintained a SECTOR PERFORM rating with a target price of $65.00.