Analyst Ratings (Canada)
Today’s analyst outlook is moderately bullish but increasingly selective, with a clear tilt toward higher price targets, especially in energy, infrastructure, and industrial names which is indicating improving earnings expectations and macro tailwinds in those sectors.
However, the persistence of “Neutral” ratings suggests that much of the upside is already reflected in valuations, limiting broad-based conviction. At the same time, mixed revisions and divergent views on the same companies point to growing uncertainty around forward multiples and earnings durability, a pattern typically seen in mid-to-late cycle markets.
Overall, analysts are signaling that while fundamentals remain solid, future gains will be more stock-specific rather than driven by a broad market re-rating.
50 Analyst Updates
AbraSilver Resource Corp (ABRA:CA) — Scotiabank maintained its Outperform rating with a $18.00 target price.
AGF Management Ltd. (AGF-B:CA) — TD Securities maintained its Buy rating with a $20.00 target price.
AltaGas Ltd. (ALA:CA) — JP Morgan raised its price target to $52.00 from $49.00 and maintained a Buy rating.
Baytex Energy Corp. (BTE:CA) — Canaccord raised its price target to $7.00 from $5.25 and maintained a Sector Perform rating.
Bombardier Inc. (BBD-B:CA) — TD Securities maintained its Hold rating with a $280.00 target price.
Calfrac Well Services Ltd. (CFW:CA) — RBC Capital raised its price target to $7.50 from $7.00 and maintained an Outperform rating.
Cannara Biotech (LOVE:CA) — TD Securities maintained its Buy rating with a $3.25 target price.
Capstone Copper (CS:CA) — Scotiabank lowered its price target to $15.50.
Celestica Inc. (CLS:CA) — CIBC raised its price target to $585.00 from $495.00 and maintained an Outperform rating.
Cenovus Energy Inc. (CVE:CA) — JP Morgan raised its price target to $41.00 from $25.00 and maintained an Outperform rating.
CES Energy Solutions Corp. (CEU:CA) — RBC Capital raised its price target to $22.00 from $20.00 and maintained a Market Perform rating.
Chemtrade Logistics Income Fund (CHE-UN:CA) — CIBC maintained its Outperform rating with a $19.00 target price.
Chemtrade Logistics Income Fund (CHE.UN:CA) — Raymond James lowered its price target to $15.00 from $21.00 and maintained a Hold rating.
Eldorado Gold Corp. (ELD:CA) — TD Securities lowered its price target to $40.00 from $45.00 and maintained a Hold rating.
Eldorado Gold Corp. (ELD:CA) — TD lowered its price target to $40.00 from $45.00 and maintained an Outperform rating.
Enerflex Ltd. (EFX:CA) — RBC Capital raised its price target to $36.00 from $27.50 and maintained a Sector Perform rating.
Ensign Energy Services Inc. (ESI:CA) — RBC Capital raised its price target to $4.00 from $3.50 and maintained a Neutral rating.
Ero Copper Corp. (ERO:CA) — Goldman Sachs lowered its price target to $43.00 from $45.50 and maintained a Buy rating.
Exchange Income Corp. (EIF:CA) — TD Securities maintained its Buy rating with a $125.00 target price.
First Quantum Minerals (FM:CA) — Scotiabank lowered its price target to $47.00.
FirstService Corp. (FSV:CA) — TD Securities lowered its price target to $40.00 from $45.00 and maintained a Buy rating.
FirstService Corp. (FSV:CA) — TD lowered its price target to $201.00 from $217.00 and maintained a Buy rating.
GFL Environmental Inc. (GFL:CA) — CIBC maintained its Outperform rating with a $77.00 target price.
GFL Environmental Inc. (GFL) — Citi lowered its price target to $70.00 from $76.00 and maintained an Underweight rating.
GFL Environmental Inc. (GFL) — JP Morgan lowered its price target to $58.00 from $67.50 and maintained a Buy rating.
Gran Tierra Energy Inc. (GTE:CA) — Canaccord raised its price target to $14.00 from $10.00 and maintained a Buy rating.
IA Financial Corp. Inc. (IAG:CA) — TD raised its price target to $193.00 from $189.00 and maintained a Buy rating.
Ivanhoe Mining (IVN:CA) — Scotiabank lowered its price target to $13.50.
K92 Mining Inc. (KNT:CA) — Scotiabank maintained its Outperform rating with a $32.00 target price.
Mullen Group Ltd. (MTL:CA) — TD Securities maintained its Buy rating with a $21.00 target price.
NeuPath Health Inc. (NPTH:CA) — Acumen Capital raised its price target to $0.95 and maintained an Outperform rating.
Orla Mining Ltd. (OLA:CA) — TD Securities maintained its Hold rating with a $26.00 target price.
Orla Mining Ltd. (OLA:CA) — Scotiabank maintained its Outperform rating with a $26.50 target price.
Precision Drilling Corp. (PD:CA) — RBC Capital raised its price target to $150.00 from $140.00 and maintained a Market Perform rating.
Savaria Corp. (SIS:CA) — TD Securities maintained its Buy rating with a $31.00 target price.
Secure Waste Infrastructure (SES:CA) — Raymond James raised its price target to $24.75 from $22.00.
Secure Waste Infrastructure (SES:CA) — CIBC raised its price target to $24.75 from $22.50.
Secure Waste Infrastructure (SES:CA) — BMO raised its price target to $24.75 from $20.00 and maintained a Hold rating.
Secure Waste Infrastructure Corp. (SES:CA) — CIBC raised its price target to $24.75 from $22.50 and maintained a Tender rating.
Secure Waste Infrastructure Corp. (SES:CA) — Stifel lowered its price target to $23.00 from $26.00 and maintained a Buy rating.
Stack Capital Group Inc. (STCK:CA) — Ventum Capital raised its price target to $29.00 from $28.50 and maintained a Buy rating.
Stack Capital Group Inc. (STCK:CA) — Canaccord raised its price target to $28.50 from $21.00.
Suncor Energy Inc. (SU:CA) — JP Morgan raised its price target to $105.00 from $79.00.
Taseko Mines Ltd. (TKO:CA) — TD Securities maintained its Buy rating with a $12.00 target price.
Teck Resources Ltd. (TECK.B:CA) — Scotiabank raised its price target to $75.00 from $70.00.
Telus Corp. (T:CA) — Barclays lowered its price target to $19.00 from $20.00 and maintained an Outperform rating.
TFI International Inc. (TFII:CA) — National Bank raised its price target to $190.00 from $173.00 and maintained an Equal Weight rating.
Thomson Reuters Corp. (TRI:CA) — Wells Fargo lowered its price target to $120.00 from $131.00 and maintained a Sector Perform rating.
Trican Well Service Ltd. (TCW:CA) — RBC Capital downgraded the stock to Sector Perform with a $7.50 target price.
Trisura Group Ltd. (TSU:CA) — TD raised its price target to $60.00 from $58.00.
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