Analyst Ratings (Canada)
Analyst sentiment across today’s Canadian analyst ratings remains broadly positive, with the strongest optimism concentrated in financials, infrastructure, industrials, energy services, and diversified income names.
Analysts also remain positive on infrastructure and industrial exposure and energy service companies with improving analyst sentiment tied to stronger activity expectations. In contrast, consumer-oriented and valuation-sensitive stocks faced more cautious revisions, with widespread target cuts.
Overall, today’s analyst activity points to a market outlook favouring stable cash flow businesses, infrastructure-linked growth, defensive financials, and selective commodity exposure while remaining cautious on stretched valuations and consumer-credit-sensitive sectors.
94 Analyst Updates
AGT Food and Ingredients (AGT:CA) — TD Securities maintained Hold with a $21 target.
Altius Minerals Corp. (ALS:CA) — BMO Capital Markets raised its target to $49 from $44 and maintained Market Perform.
Altius Minerals Corp. (ALS:CA) — National Bank raised its target to $62.50 from $57.50 and maintained Outperform.
AtkinsRéalis Group (ATRL:CA) — TD Securities maintained Buy with a $127 target.
Bank of Montreal (BMO:CA) — Raymond James raised its target to $227 from $214 and maintained Outperform.
Bank of Nova Scotia (BNS:CA) — Raymond James raised its target to $120 from $117 and maintained Outperform.
BCE Inc. (BCE:CA) — Desjardins Securities raised its target to $43.50 from $41.00 and maintained Buy.
Boyd Group Services Inc. (BYD:CA) — CIBC maintained Outperform with a $275 target.
Boyd Group Services Inc. (BYD:CA) — TD Securities maintained Buy with a $270 target.
Calfrac Well Services Ltd. (CFW:CA) — ATB Cormark raised its target to $7.50 from $7.25 and maintained Outperform.
Calfrac Well Services Ltd. (CFW:CA) — RBC Capital Markets raised its target to $8.00 from $7.50 and maintained Sector Perform.
Canadian Imperial Bank of Commerce (CM:CA) — Raymond James raised its target to $157.50 from $148.50 and maintained Market Perform.
CES Energy Solutions Corp. (CEU:CA) — National Bank downgraded to Sector Perform with a $20 target.
CGI Inc. (GIB.A-CA) — Scotiabank maintained Sector Perform with a $110 target.
Chemtrade Logistics Income Fund (CHE.UN:CA) — CIBC maintained Outperform with a $19 target.
Chemtrade Logistics Income Fund (CHE.UN:CA) — RBC Capital Markets raised its target to $20 from $18 and maintained Outperform.
Constellation Software Inc. (CSU:CA) — BMO Capital Markets lowered its target to $3,500 from $4,200 and maintained Outperform.
Constellation Software Inc. (CSU:CA) — Raymond James lowered its target to $3,200 from $3,700 and maintained Market Perform.
Constellation Software Inc. (CSU:CA) — TD Securities maintained Buy with a $4,100 target.
Crombie REIT (CRR.UN:CA) — RBC Capital Markets raised its target to $18 from $16.50 and maintained Sector Perform.
CT REIT (CRT.UN:CA) — Raymond James raised its target to $19 from $18.75 and maintained Market Perform.
CT REIT (CRT.UN:CA) — Desjardins Securities raised its target to $19 from $18 and maintained Hold.
CT REIT (CRT.UN:CA) — Scotiabank raised its target to $18.50 from $17.00 and maintained Sector Perform.
CT REIT (CRT.UN:CA) — TD Securities raised its target to $18 from $17.50 and maintained Hold.
Denison Mines Corp. (DML:CA) — TD Securities maintained Buy with a $6.50 target.
Dream Office REIT (D.UN:CA) — Scotiabank raised its target to $20.25 and maintained Sector Perform.
Equinox Gold Corp. (EQX:CA) — TD Securities maintained Buy with a $24 target.
Exchange Income Corp. (EIF:CA) — BMO Capital Markets raised its target to $120 from $111 and maintained Outperform.
Exchange Income Corp. (EIF:CA) — Canaccord Genuity raised its target to $129 from $116 and maintained Buy.
Exchange Income Corp. (EIF:CA) — CIBC raised its target to $123 from $120 and maintained Outperformer.
Exchange Income Corp. (EIF:CA) — Desjardins Securities raised its target to $120 from $116 and maintained Buy.
Exchange Income Corp. (EIF:CA) — Paradigm raised its target to $122 from $120 and maintained Buy.
Exchange Income Corp. (EIF:CA) — Raymond James raised its target to $130 from $125 and maintained Strong Buy.
Exchange Income Corp. (EIF:CA) — RBC Capital Markets lowered its target to $127 from $133 and maintained Outperform.
Exchange Income Corp. (EIF-CA) — Scotiabank maintained Outperform with a $129 target.
Exchange Income Corp. (EIF-CA) — TD Securities maintained Buy with a $125 target.
Extendicare Inc. (EXE:CA) — BMO Capital Markets raised its target to $38 from $30.
Finning International Inc. (FTT:CA) — CIBC maintained Outperform with a $100 target.
Finning International Inc. (FTT:CA) — Scotiabank maintained Outperform with a $109 target.
Finning International Inc. (FTT:CA) — TD Securities maintained Buy with a $106 target.
First Majestic Silver Corp. (AG:CA) — Scotiabank maintained Sector Perform with a $31 target.
First Quantum Minerals Ltd. (FM:CA) — Scotiabank raised its target to $48 from $44 and maintained Outperform.
Franco-Nevada Corporation (FNV:CA) — CIBC maintained Outperform with a $480 target.
Franco-Nevada Corporation (FNV-N) — Scotiabank maintained Sector Perform with a $392 target.
Freehold Royalties Ltd. (FRU-CA) — Scotiabank maintained Sector Perform with an $18 target.
George Weston Ltd. (WN:CA) — CIBC lowered its target to $117 from $127.
George Weston Ltd. (WN-CA) — Scotiabank lowered its target to $102 from $106 and maintained Sector Perform.
goeasy Ltd. (GSY:CA) — BMO Capital Markets lowered its target to $36 from $45.
goeasy Ltd. (GSY-CA) — Scotiabank maintained Sector Perform with a $39 target.
goeasy Ltd. (GSY-CA) — TD Securities maintained Hold with a $36 target.
Hydro One Ltd. (H:CA) — CIBC maintained Neutral with a $58 target.
Hydro One Ltd. (H:CA) — TD Securities maintained Hold with a $57 target.
Imperial Oil Ltd. (IMO:CA) — TD Securities lowered its target to $156 from $157 and maintained Sell.
Kneat.com Inc. (KSI:CA) — CIBC raised its target to $6.25 from $5.50 and maintained Outperform.
Logan Energy Corp. (LGN:CA) — TD Securities maintained Buy with a $125 target.
National Bank of Canada (NA:CA) — Raymond James raised its target to $206.50 from $200 and maintained Market Perform.
Neo Performance Materials Inc. (NEO:CA) — Stifel Nicolaus raised its target to $38 from $26.
Nexus Industrial REIT (NXR.UN:CA) — National Bank lowered its target to $8.50 from $8.75 and maintained Sector Perform.
Nexus Industrial REIT (NXR.UN-CA) — Scotiabank maintained Sector Perform with an $8.50 target.
Nexus Industrial REIT (NXR.UN-CA) — TD Securities maintained Hold with an $8 target.
Paramount Resources Ltd. (POU:CA) — National Bank raised its target to $38 from $36 and maintained Sector Perform.
Paramount Resources Ltd. (POU:CA) — Raymond James raised its target to $36 from $34 and maintained Outperform.
Paramount Resources Ltd. (POU:CA) — RBC Capital Markets raised its target to $35 from $32 and maintained Sector Perform.
Pet Valu Holdings Ltd. (PET:CA) — CIBC lowered its target to $22 from $28.
Pet Valu Holdings Ltd. (PET:CA) — ATB Cormark lowered its target to $30 from $40 and maintained Outperform.
Pet Valu Holdings Ltd. (PET:CA) — Barclays Capital lowered its target to $17 from $28 and maintained Equal-Weight.
Pet Valu Holdings Ltd. (PET:CA) — Desjardins Securities lowered its target to $26 from $32 and maintained Buy.
Pet Valu Holdings Ltd. (PET:CA) — National Bank lowered its target to $22 from $27 and maintained Sector Perform.
Pet Valu Holdings Ltd. (PET:CA) — Raymond James lowered its target to $21 from $31.50 and maintained Outperform.
Pet Valu Holdings Ltd. (PET:CA) — RBC Capital Markets lowered its target to $26 from $27 and maintained Outperform.
Pet Valu Holdings Ltd. (PET:CA) — Stifel Nicolaus lowered its target to $23 from $32 and maintained Buy.
Pet Valu Holdings Ltd. (PET-CA) — TD Securities lowered its target to $22 from $34 and maintained Buy.
Peyto Exploration & Development Corp. (PEY:CA) — CIBC maintained Outperform with a $28 target.
Peyto Exploration & Development Corp. (PEY-CA) — TD Securities maintained Hold with a $25 target.
Power Corporation of Canada (POW:CA) — CIBC maintained Neutral with an $80 target.
Power Corporation of Canada (POW:CA) — National Bank raised its target to $85 from $77 and maintained Sector Perform.
Quebecor Inc. (QBR-B:CA) — CIBC maintained Outperform with a $66 target.
Royal Bank of Canada (RY:CA) — Raymond James raised its target to $265.50 from $248 and maintained Market Perform.
TD Bank (TD:CA) — Raymond James raised its target to $152.50 from $141 and maintained Outperform.
TELUS Corp. (T:CA) — Desjardins Securities maintained Buy with a $21 target.
TELUS Corp. (T-CA) — Scotiabank maintained Sector Perform with a $20 target.
Trican Well Service Ltd. (TCW:CA) — ATB Cormark raised its target to $8.50 from $8.00 and maintained Outperform.
Trican Well Service Ltd. (TCW:CA) — RBC Capital Markets raised its target to $8.50 from $7.50 and maintained Sector Perform.
Trican Well Service Ltd. (TCW-CA) — TD Securities raised its target to $8 from $7 and maintained Hold.
Wesdome Gold Mines Ltd. (WDO:CA) — CIBC maintained Neutral with a $31 target.
Wesdome Gold Mines Ltd. (WDO:CA) — TD Securities maintained Hold with a $31 target.
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