Analyst Ratings (Canada)
Today’s analyst updates reflect a selective tone across Canadian stocks, with a clear bias toward price target increases in energy and mining names (notably Suncor and Skeena), signaling improving earnings visibility tied to commodity strength and easing geopolitical risk. At the same time, multiple downgrades and target cuts in Ivanhoe Mines point to more cautious sentiment in parts of the base metals space, likely reflecting valuation resets or project-specific concerns. Defensive and income-oriented sectors such as utilities and pipelines (e.g., Algonquin, Hydro One, Pembina) continue to see supportive ratings, indicating stability but limited upside. Consumer and industrial names show mixed signals, with maintained ratings but selective target adjustments, suggesting analysts see a sluggish macro backdrop with pockets of resilience.
Overall, the flow implies a market that is rotating toward quality commodity exposure and stable cash flow names, while becoming more discriminating on growth and cyclicals.
42 Analyst Updates:
AG Growth International Inc. (AFN:CA) had its price target cut to $20 from $30 by RBC Capital.
Air Canada (AC:CA) was maintained at Outperform by CIBC with a $25 price target.
Algonquin Power & Utilities (AQN:CA) was rated Overweight by Barclays Capital with a $10 price target.
Allied Gold Corporation (AAUC:CA) was maintained at Tender by CIBC with a $44 price target.
Americas Gold and Silver Corporation (USA:CA) was rated Outperform by BMO Capital Markets with a $10 price target.
Aya Gold & Silver Inc. (AYA:CA) was maintained at Outperform by Scotiabank with a $29 price target.
Discovery Silver Corp (DSV:CA) was rated Outperform by Scotiabank with a $15 price target.
First Majestic Silver Corp. (AG:CA) was maintained at Buy by TD Securities with a $36 price target.
GFL Environmental Inc. (GFL:CA) was maintained at Outperform by CIBC with a $75 price target.
Goeasy Ltd. (GSY:CA) was maintained at Outperform by Scotiabank with a $54 price target.
Goeasy Ltd. (GSY:CA) was maintained at Hold by TD Securities with a $44 price target.
Greenfire Resources Ltd (GFR:CA) was rated Outperform by National Bank with a $12.50 price target.
Groupe Dynamite Inc. (GRGD:CA) was maintained at Buy by TD Securities with a $100 price target.
Groupe Dynamite Inc. (GRGD:CA) was maintained at Outperform by CIBC with a $96 price target.
Hydro One Ltd. (H:CA) was rated Overweight by Barclays Capital with a $66 price target.
Ivanhoe Mines Ltd. (IVN:CA) had its price target cut to $15 from $22 by Stifel Nicolaus.
Ivanhoe Mines Ltd. (IVN:CA) was downgraded to Sector Perform from Outperform by Scotiabank with a price target cut to $14.50 from $19.
Ivanhoe Mines Ltd. (IVN:CA) was downgraded to Market Perform from Outperform by Raymond James with a price target cut to $17 from $23.
Ivanhoe Mines Ltd. (IVN:CA) had its price target cut to $16 from $23 by BMO Capital Markets.
Ivanhoe Mines Ltd. (IVN:CA) was maintained at Buy by TD Securities with a price target cut to $13 from $19.
Lodestar Battery Metals Corp (LSTR:CA) was rated Buy by Fundamental Research with a $0.47 price target.
Lycos Energy Inc. (LCX:CA) was maintained at Sector Perform by National Bank with a price target raised to $2.50 from $0.70.
Montage Gold Corp. (MAU:CA) was maintained at Outperform by ATB Cormark with a price target increased to $18 from $16.50.
NTG Clarity Networks Inc. (NCI:CA) was rated Buy by Ventum Financial with a $2.00 price target.
Pembina Pipeline Corporation (PPL:CA) was maintained at Outperform by CIBC with a $64 price target.
Rogers Communications Inc. (RCI.B:CA) had its price target lowered to $63 from $65 by JP Morgan.
Russel Metals Inc. (RUS:CA) was maintained at Outperform by Scotiabank with a $54 price target.
Skeena Resources Ltd. (SKE:CA) had its price target raised to $52 from $40 by Canaccord Genuity.
Skeena Resources Ltd. (SKE:CA) had its price target raised to $50 from $45 by BMO Capital Markets.
Skeena Resources Ltd. (SKE:CA) was maintained at Outperform by CIBC with a $58 price target.
Skeena Resources Ltd. (SKE:CA) was maintained at Outperform by Scotiabank with a $44 price target.
Suncor Energy Inc. (SU:CA) had its price target raised to $97 from $74 by Wells Fargo.
Suncor Energy Inc. (SU:CA) had its price target raised to $89 from $75 by RBC Capital.
Suncor Energy Inc. (SU:CA) had its price target raised to $104 from $93 by Raymond James.
Suncor Energy Inc. (SU:CA) had its price target raised to $100 from $85 by BMO Capital Markets.
Suncor Energy Inc. (SU:CA) was maintained at Outperform by ATB Cormark with a price target raised to $104 from $95.
Suncor Energy Inc. (SU:CA) was maintained at Buy by TD Securities with a price target raised to $91 from $81.
Suncor Energy Inc. (SU:CA) had its price target raised to $85 by Scotiabank, with a Outperform rating.
Suncor Energy Inc. (SU:CA) was maintained at Outperform by CIBC with a price target raised to $92 from $88.
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