Analyst Ratings (Canada)
Today’s analyst outlook remains selectively positive, with strength concentrated in cyclical sectors such as infrastructure, energy, and transportation, where improving demand visibility and pricing power are supporting upward earnings revisions.
In contrast, growth-oriented sectors, particularly technology and certain materials segments are facing downward estimate revisions and valuation pressure, reflecting softer demand trends and reduced earnings visibility. Commodity-linked sectors are benefiting from higher underlying prices, reinforcing a more favorable near-term outlook, while defensive areas like utilities, REITs, and consumer staples remain relatively stable but lack strong upside catalysts in a higher interest rate environment.
Overall, the market positioning reflects a barbell approach, favoring real assets and cyclicals tied to tangible demand drivers, while maintaining caution on sectors more sensitive to macro uncertainty and slowing growth.
85 Updates
Aecon Group Inc. (ARE:CA) — ATB Cormark raised its price target to $49 from $42 and maintained a Sector Perform rating.
Aecon Group Inc. (ARE:CA) — Canaccord Genuity raised its price target to $56 from $52 and maintained a Buy rating.
Aecon Group Inc. (ARE:CA) — CIBC raised its price target to $52 from $48 and maintained a Neutral rating.
Aecon Group Inc. (ARE:CA) — Desjardins Securities raised its price target to $52 from $45 and maintained a Hold rating.
Aecon Group Inc. (ARE:CA) — National Bank raised its price target to $59 from $48 and maintained an Outperform rating.
Aecon Group Inc. (ARE:CA) — RBC Capital raised its price target to $49 from $44 and maintained a Sector Perform rating.
Aecon Group Inc. (ARE:CA) — Stifel Nicolaus lowered its price target to $44.50 from $46 and maintained a Hold rating.
Aecon Group Inc. (ARE:CA) — TD Securities raised its price target to $62 from $59 and maintained a Buy rating.
Alamos Gold Inc. (AGI:CA) — CIBC maintained an Outperform rating with a $90 target.
Allied Properties REIT (AP-UN:CA) — CIBC maintained a Neutral rating with an $11 target.
Allied Properties REIT (AP-UN:CA) — TD Securities maintained a Hold rating with a $10 target.
AltaGas Ltd. (ALA:CA) — TD Securities maintained a Buy rating with a $51 target.
ARC Resources Ltd. (ARX:CA) — TD Securities maintained a Sell rating with a $32.80 target.
AtkinsRéalis Group Inc. (ATRL:CA) — Stifel Nicolaus lowered its price target to $101 from $115 and maintained a Buy rating.
Bombardier Inc. (BBD-B:CA) — CIBC maintained a Neutral rating with a $288 target.
Bombardier Inc. (BBD-B:CA) — TD Securities maintained a Hold rating with a $275 target.
Boyd Group Services Inc. (BYD:CA) — TD Securities maintained a Buy rating with a $270 target.
Canada Packers Inc (CPKR:CA)— TD Securities maintained a Buy rating with a $24 target.
Canadian National Railway Co. (CNR:CA) — Citigroup raised its price target to $168.50 from $167 and maintained a Buy rating.
Canadian National Railway Co. (CNR:CA) — Desjardins Securities raised its price target to $163 from $156 and maintained a Buy rating.
Canadian National Railway Co. (CNR:CA) — RBC Capital raised its price target to $178 from $160 and maintained an Outperform rating.
Canadian National Railway Co. (CNR:CA) — Scotiabank raised its price target to $162 from $160 and maintained a Sector Outperform rating.
Canadian National Railway Co. (CNR:CA) — TD Securities maintained a Buy rating with a $171 target.
Canadian Pacific Kansas City Ltd. (CP:CA) — Barclays raised its price target to $135 from $125.
Canadian Pacific Kansas City Ltd. (CP:CA) — JP Morgan raised its price target to $133 from $120.
Canadian Pacific Kansas City Ltd. (CP:CA) — CIBC raised its price target to $128 from $124 and maintained an Outperform rating.
Canadian Pacific Kansas City Ltd. (CP:CA) — Citigroup raised its price target to $132 from $126 and maintained a Buy rating.
Canadian Pacific Kansas City Ltd. (CP:CA) — Desjardins Securities raised its price target to $131 from $129 and maintained a Buy rating.
Canadian Pacific Kansas City Ltd. (CP:CA) — RBC Capital lowered its price target to $127 from $128 and maintained an Outperform rating.
Canadian Pacific Kansas City Ltd. (CP:CA) — TD Securities maintained a Hold rating with a $117 target.
Capital Power Corp. (CPX:CA) — TD Securities maintained a Buy rating with an $80 target.
Celestica Inc. (CLS:CA) — TD Securities maintained a Buy rating with a $584 target.
Centerra Gold Inc. (CG:CA) — CIBC maintained an Outperform rating with a $37 target.
Centerra Gold Inc. (CG:CA) — TD Securities maintained a Buy rating with a $32 target.
CGI Inc. (GIB.A:CA) — BMO lowered its price target to $112 from $122.
CGI Inc. (GIB.A:CA) — Bernstein lowered its price target to $141 from $143.
CGI Inc. (GIB.A:CA) — Canaccord Genuity raised its price target to $140 from $150 and maintained a Buy rating.
CGI Inc. (GIB.A:CA) — Desjardins Securities lowered its price target to $147 from $149 and maintained a Buy rating.
CGI Inc. (GIB.A:CA) — Raymond James lowered its price target to $130 from $168 and maintained an Outperform rating.
CGI Inc. (GIB.A:CA) — RBC Capital lowered its price target to $100 from $150 and maintained a Sector Perform rating.
CGI Inc. (GIB.A:CA) — Scotiabank lowered its price target to $110 from $120 and maintained a Sector Perform rating.
CGI Inc. (GIB.A:CA) — Stifel Nicolaus lowered its price target to $110 from $128 and maintained a Buy rating.
CGI Inc. (GIB.A:CA) — TD Securities lowered its price target to $102 from $153 and maintained a Buy rating.
Champion Iron Ltd. (CIA:CA) — TD Securities maintained a Buy rating with a $6.50 target.
Endeavour Mining (EDV:CA) — TD Securities maintained a Buy rating with a $104 target.
Fireweed Metals Corp. (FWZ:CA) — Raymond James initiated coverage with an Outperform rating and a $6.50 target.
First Quantum Minerals Ltd. (FM:CA) — Canaccord Genuity lowered its price target to $46 from $48 and maintained a Buy rating.
First Quantum Minerals Ltd. (FM:CA) — Scotiabank lowered its price target to $44 from $47 and maintained a Sector Outperform rating.
First Quantum Minerals Ltd. (FM:CA) — TD Securities maintained a Hold rating with a $42 target.
Gildan Activewear Inc. (GIL:CA) — CIBC maintained an Outperform rating with a $107.50 target.
Gildan Activewear Inc. (GIL:CA) — TD Securities maintained a Buy rating with a $109 target.
Kinross Gold Corp. (K:CA) — CIBC maintained an Outperform rating with a $73.50 target.
Lightspeed Commerce Inc. (LSPD:CA) — TD Securities maintained a Hold rating with an $11 target.
Loblaw Companies Ltd. (L:CA) — TD Securities maintained a Buy rating with a $75 target.
Methanex Corp. (MX:CA) — CIBC maintained an Outperform rating with a $90 target.
Morguard North American Residential REIT (MRG.UN:CA) — RBC Capital lowered its price target to $20 from $21 and maintained a Sector Perform rating.
NFI Group Inc. (NFI:CA) — TD Securities maintained a Buy rating with a $25 target.
Northland Power Inc. (NPI:CA) — CIBC maintained an Outperform rating with a $26 target.
Northland Power Inc. (NPI:CA) — TD Securities maintained a Hold rating with a $24 target.
Precision Drilling Corp. (PD:CA) — BMO raised its price target to $165 from $160.
Precision Drilling Corp. (PD:CA) — TD Securities maintained a Hold rating with a $127 target.
Precision Drilling Corp. (PD:CA) — CIBC maintained an Outperform rating with a $150 target.
Premium Brands Holdings (PBH:CA) — CIBC maintained an Outperform rating with a $110 target.
Primaris REIT (PMZ-UN:CA) — TD Securities maintained a Buy rating with a $19.50 target.
Secure Waste Infrastructure Corp. (SES:CA) — CIBC maintained a Tender rating with a $24.75 target.
Spin Master Corp. (TOY:CA) — CIBC maintained a Neutral rating with a $22 target.
Stantec Inc. (STN:CA) — Stifel Nicolaus lowered its price target to $140 from $160 and maintained a Buy rating.
Toromont Industries Ltd. (TIH:CA) — Canaccord Genuity raised its price target to $240 from $235 and maintained a Buy rating.
Toromont Industries Ltd. (TIH:CA) — CIBC maintained a Neutral rating with a $215 target.
Toromont Industries Ltd. (TIH:CA) — National Bank raised its price target to $216 from $214 and maintained an Outperform rating.
Toromont Industries Ltd. (TIH:CA) — Raymond James raised its price target to $190 from $180 and maintained a Market Perform rating.
Toromont Industries Ltd. (TIH:CA) — RBC Capital raised its price target to $234 from $207 and maintained an Outperform rating.
Toromont Industries Ltd. (TIH:CA) — Scotiabank raised its price target to $229 from $208 and maintained a Sector Perform rating.
Waste Management, Inc. (WM:CA) — CIBC maintained a Neutral rating with a $344 target.
Whitecap Resources Inc. (WCP:CA) — CIBC maintained an Outperform rating with an $18 target.
Whitecap Resources Inc. (WCP:CA) — ATB Cormark raised its price target to $18.50 from $17.50 and maintained an Outperform rating.
Whitecap Resources Inc. (WCP:CA) — Raymond James raised its price target to $20 from $18 and maintained an Outperform rating.
Whitecap Resources Inc. (WCP:CA) — Scotiabank raised its price target to $19 from $17 and maintained a Sector Outperform rating.
Whitecap Resources Inc. (WCP:CA) — TD Securities raised its price target to $18 from $17 and maintained a Buy rating.
WSP Global Inc. (WSP:CA) — Stifel Nicolaus lowered its price target to $280 from $320 and maintained a Buy rating.
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