Analyst Ratings (Canada)
Canadian analyst coverage today, on August 13th, remained moderately bullish, with the strongest positive momentum concentrated in financials, where broad-based target increases indicate confidence in earnings and valuation. The industrial sector was also positive, supported by widespread target increases and positive operational expectations, although some companies faced significant target reductions, creating a more mixed outlook. Technology remained firmly positive, with analysts generally maintaining positive ratings and raising valuations despite concerns around elevated expectations. Energy and materials were selectively bullish, with higher targets reflecting improving commodity fundamentals and company-specific catalysts, particularly across oil, gas and precious metals. Transportation and aerospace sentiment was positive, with analysts raising targets on expectations for stronger operating performance. Consumer discretionary and staples were more mixed, with several target reductions reflecting margin, revenue and demand concerns. Real estate remained neutral to moderately positive, with most analysts maintaining Neutral ratings while selectively adjusting targets. Overall, analyst outlook points to a continued positive Canadian market environment, led by financials, industrials, technology, transportation and selected energy/materials names.
123 Analyst Updates
Air Canada (AC:CA): ATB Cormark raised its price target to C$45.00 from C$32.00 and maintained an Outperform rating.
Air Canada (AC:CA): National Bank raised its price target to C$40.00 from C$29.00 and maintained an Outperform rating.
Air Canada (AC:CA): RBC Capital raised its price target to C$37.00 from C$28.00 and maintained an Outperform rating.
Air Canada (AC:CA): UBS Securities raised its price target to C$33.00 from C$24.00.
Apotex Health Corp. (APTX:CA): Canaccord Genuity lowered its price target to C$41.50 from C$42.00 and maintained a Buy rating.
Apotex Health Corp. (APTX:CA): Desjardins Securities raised its price target to C$41.00 from C$40.00 and maintained a Buy rating.
Apotex Health Corp. (APTX:CA): Scotiabank maintained a Outperform rating with a C$40.00 price target.
AutoCanada Inc. (ACQ:CA): CIBC World Markets raised its price target to C$26.00 from C$22.00 and maintained a Neutral rating.
AutoCanada Inc. (ACQ:CA): National Bank raised its price target to C$23.00 from C$21.00 and maintained a Sector Perform rating.
Bank of Montreal (BMO:CA): Jefferies & Co raised its price target to C$225.00 from C$213.00 and maintained a Hold rating.
Bank of Montreal (BMO:CA): National Bank raised its price target to C$278.00 from C$236.00 and maintained a Sector Perform rating.
Bank of Nova Scotia (BNS:CA): Jefferies & Co raised its price target to C$117.00 from C$112.00 and maintained a Hold rating.
Bank of Nova Scotia (BNS:CA): National Bank raised its price target to C$128.00 from C$106.00 and maintained a Sector Perform rating.
Barrick Mining Corp. (ABX:CA): Barclays Capital raised its price target to C$58.00 from C$55.00.
Birchcliff Energy Ltd. (BIR:CA): Raymond James raised its price target to C$8.50 from C$8.00 and maintained an Outperform rating.
Birchcliff Energy Ltd. (BIR:CA): Scotiabank maintained a Sector Perform rating with a C$7.75 price target.
Bird Construction Inc. (BDT:CA): BMO-Capital Markets raised its price target to C$85.00 from C$75.00.
Bird Construction Inc. (BDT:CA): TD-Securities maintained a Buy rating with a C$72.00 price target.
Boyd Group Services Inc. (BYD:CA): ATB Cormark raised its price target to C$250.00 from C$245.00 and maintained an Outperform rating.
Boyd Group Services Inc. (BYD:CA): BMO-Capital Markets lowered its price target to C$190.00 from C$200.00.
Boyd Group Services Inc. (BYD:CA): CIBC World Markets raised its price target to C$208.00 from C$205.00.
Boyd Group Services Inc. (BYD:CA): Desjardins Securities lowered its price target to C$225.00 from C$240.00 and maintained a Buy rating.
Boyd Group Services Inc. (BYD:CA): Jefferies & Co lowered its price target to C$225.00 from C$250.00.
Boyd Group Services Inc. (BYD:CA): National Bank raised its price target to C$270.00 from C$265.00 and maintained an Outperform rating.
Boyd Group Services Inc. (BYD:CA): RBC Capital lowered its price target to C$236.00 from C$245.00 and maintained an Outperform rating.
Boyd Group Services Inc. (BYD:CA): Scotiabank lowered its price target to C$210.00 from C$219.00 and maintained a Outperform rating.
Boyd Group Services Inc. (BYD:CA): TD-Securities raised its price target to C$200.00 from C$190.00 and maintained a Buy rating.
Boyd Group Services Inc. (BYD:CA): Scotiabank lowered its price target to C$210.00 and maintained a Outperform rating.
Brookfield Corp. (BN:CA): TD-Securities maintained a Buy rating with a C$83.00 price target.
BSR REIT (HOM.U:CA): Scotiabank maintained a Sector Perform rating with a US$13.00 price target.
CAE-Inc. (CAE:CA): TD-Securities raised its price target to C$45.00 from C$43.00 and maintained a Buy rating.
CAE-Inc. (CAE:CA): Scotiabank maintained a Outperform rating with a C$50.00 price target.
Calian Group Ltd. (CGY:CA): CIBC World Markets maintained an Outperform rating with a C$93.00 price target.
Canadian Imperial Bank of Commerce (CM:CA): Jefferies & Co raised its price target to C$153.00 from C$143.00 and maintained a Hold rating.
Canadian Imperial Bank of Commerce (CM:CA): National Bank raised its price target to C$180.00 from C$152.00 and maintained a Sector Perform rating.
Canadian Tire Corporation (CTC-A:CA): TD-Securities maintained a Hold rating with a C$210.00 price target.
CCL Industries Inc. (CCL.B:CA): TD-Securities maintained a Buy rating with a C$110.00 price target.
CCL Industries Inc. (CCL.B:CA): Scotiabank maintained a Sector Perform rating with a C$98.00 price target.
Cogeco Communications Inc. (CCA:CA): TD-Securities initiated coverage with a Buy rating and a C$83.00 price target.
Constellation Software Inc. (CSU:CA): Desjardins Securities raised its price target to C$4,000.00 from C$3,900.00 and maintained a Buy rating.
Constellation Software Inc. (CSU:CA): Jefferies & Co raised its price target to C$3,294.00 from C$3,185.00.
Constellation Software Inc. (CSU:CA): National Bank raised its price target to C$3,700.00 from C$3,500.00 and maintained an Outperform rating.
Constellation Software Inc. (CSU:CA): RBC Capital lowered its price target to C$4,400.00 from C$4,500.00 and maintained an Outperform rating.
Constellation Software Inc. (CSU:CA): TD-Securities initiated coverage with a Buy rating and a C$4,200.00 price target.
CT REIT (CRT.UN:CA): Scotiabank maintained a Sector Perform rating with a C$18.50 price target.
Eldorado Gold Corporation (ELD:CA): Canaccord Genuity raised its price target to C$55.00 from C$45.00.
EQB-Inc. (EQB:CA): Jefferies & Co raised its price target to C$129.00 from C$122.00 and maintained a Hold rating.
EQB-Inc. (EQB:CA): National Bank raised its price target to C$143.00 from C$120.00 and maintained a Sector Perform rating.
EQB-Inc. (EQB:CA): Raymond James raised its price target to C$136.00 from C$123.00 and maintained a Sector Perform rating.
Exchange Income Corp. (EIF:CA): ATB Cormark raised its price target to C$165.00 from C$146.00 and maintained an Outperform rating.
Exchange Income Corp. (EIF:CA): BMO-Capital Markets raised its price target to C$152.00 from C$140.00.
Exchange Income Corp. (EIF:CA): Canaccord Genuity raised its price target to C$150.00 from C$129.00 and maintained a Buy rating.
Exchange Income Corp. (EIF:CA): CIBC World Markets raised its price target to C$151.00 from C$141.00.
Exchange Income Corp. (EIF:CA): National Bank raised its price target to C$145.00 from C$144.00 and maintained an Outperform rating.
Exchange Income Corp. (EIF:CA): Raymond James raised its price target to C$150.00 from C$142.00 and maintained a Strong Buy rating.
Exchange Income Corp. (EIF:CA): RBC Capital raised its price target to C$156.00 from C$150.00 and maintained an Outperform rating.
Exchange Income Corp. (EIF:CA): Scotiabank raised its price target to C$150.00 from C$140.00 and maintained a Outperform rating.
Exchange Income Corp. (EIF:CA): TD-Securities raised its price target to C$151.00 from C$142.00 and maintained a Buy rating.
Exchange Income Corp. (EIF:CA): Scotiabank raised its price target to C$150.00 and maintained a Outperform rating.
G Mining Ventures (GMIN:CA): TD-Securities maintained a Buy rating with a C$68.00 price target.
Galiano Gold Inc. (GAU:CA): Canaccord Genuity initiated coverage with a Buy rating and a C$5.50 price target.
GO Residential REIT (GO.U:CA): National Bank lowered its price target to C$9.50 from C$10.75 and maintained a Sector Perform rating.
H&R REIT (HR.UN:CA): National Bank lowered its price target to C$11.50 from C$12.25 and maintained a Sector Perform rating.
H&R REIT (HR.UN:CA): TD-Securities maintained a Buy rating with a C$11.50 price target.
H&R REIT (HR.UN:CA): Scotiabank maintained a Sector Perform rating with a C$12.00 price target.
HLS -Therapeutics Inc. (HLS:CA): Canaccord Genuity upgraded the stock to Buy from Hold.
Hydro One Ltd. (H:CA): Barclays Capital lowered its price target to C$61.00 from C$63.00.
Hydro One Ltd. (H:CA): RBC Capital raised its price target to C$60.00 from C$58.00 and maintained a Sector Perform rating.
Hydro One Ltd. (H:CA): TD-Securities initiated coverage with a Hold rating and a C$58.00 price target.
Hydro One Ltd. (H:CA): Scotiabank maintained a Sector Perform rating with a C$58.00 price target.
Kneat.com Inc. (KSI:CA): TD-Securities discontinued coverage with a Sell rating and a C$6.50 price target.
KP Tissue Inc. (KPT:CA): CIBC World Markets maintained a Neutral rating with a C$13.00 price target.
Linamar Corp. (LNR:CA): CIBC World Markets raised its price target to C$120.00 from C$115.00.
Linamar Corp. (LNR:CA): Scotiabank raised its price target to C$114.00 from C$102.00 and maintained a Sector Perform rating.
Linamar Corp. (LNR:CA): TD-Securities raised its price target to C$123.00 from C$119.00 and maintained a Buy rating.
Linamar Corp. (LNR:CA): Scotiabank raised its price target to C$114.00 and maintained a Sector Perform rating.
Maple Leaf Foods Inc. (MFI:CA): Canaccord Genuity lowered its price target to C$37.00 from C$39.00 and maintained a Buy rating.
Maple Leaf Foods Inc. (MFI:CA): National Bank lowered its price target to C$34.00 from C$36.00 and maintained an Outperform rating.
Maple Leaf Foods Inc. (MFI:CA): Scotiabank lowered its price target to C$33.00 from C$36.00 and maintained a Outperform rating.
Maple Leaf Foods Inc. (MFI:CA): Ventum Financial lowered its price target to C$37.00 from C$39.00 and maintained a Buy rating.
Maple Leaf Foods Inc. (MFI:CA): TD-Securities initiated coverage with a Buy rating and a C$42.00 price target.
Maple Leaf Foods Inc. (MFI:CA): Scotiabank lowered its price target to C$33.00 and maintained a Outperform rating.
Mattr Corp. (MATR:CA): TD-Securities maintained a Buy rating with a C$23.00 price target.
Metro Inc. (MRU:CA): National Bank lowered its price target to C$102.00 from C$105.00 and maintained a Sector Perform rating.
Metro Inc. (MRU:CA): RBC Capital lowered its price target to C$110.00 from C$111.00 and maintained a Sector Perform rating.
Metro Inc. (MRU:CA): TD-Securities raised its price target to C$108.00 from C$106.00 and maintained a Buy rating.
Metro Inc. (MRU:CA): Scotiabank maintained a Sector Perform rating with a C$96.00 price target.
Montage Gold Corp. (MAU:CA): Beacon Securities raised its price target to C$21.50 from C$18.00 and maintained a Buy rating.
Montage Gold Corp. (MAU:CA): National Bank raised its price target to C$22.00 from C$20.00 and maintained an Outperform rating.
National Bank of Canada (NA:CA): Jefferies & Co raised its price target to C$208.00 from C$196.00 and maintained a Hold rating.
Nexus Industrial REIT (NXR.UN:CA): Scotiabank maintained a Sector Perform rating with a C$9.00 price target.
North American Construction Group (NOA:CA): CIBC World Markets lowered its price target to C$21.00 from C$25.00 and maintained a Neutral rating.
Northland Power Inc. (NPI:CA): TD-Securities maintained a Hold rating with a C$25.00 price target.
Northland Power Inc. (NPI:CA): Scotiabank maintained a Sector Perform rating with a C$25.00 price target.
Onex Corporation (ONEX:CA): CIBC World Markets maintained a Neutral rating with a C$134.00 price target.
Onex Corporation (ONEX:CA): TD-Securities maintained a Buy rating with a C$165.00 price target.
Pan American Silver Corp. (PAAS:CA): CIBC World Markets maintained an Outperform rating with a C$131.00 price target.
Pan American Silver Corp. (PAAS:CA): Scotiabank maintained a Outperform rating with a C$95.00 price target.
Parex Resources Inc. (PXT:CA): Scotiabank raised its price target to C$30.00 from C$29.00 and maintained a Sector Perform rating.
Peyto Exploration & Development Corp. (PEY:CA): TD-Securities initiated coverage with a Hold rating and a C$25.00 price target.
Peyto Exploration & Development Corp. (PEY:CA): Scotiabank maintained a Sector Perform rating with a C$28.50 price target.
PROREIT (PRV.UN:CA): TD-Securities maintained a Buy rating with a C$7.00 price target.
PROREIT (PRV.UN:CA): Scotiabank maintained a Sector Perform rating with a C$7.50 price target.
Royal Bank of Canada (RY:CA): Jefferies & Co raised its price target to C$268.00 from C$240.00.
Royal Bank of Canada (RY:CA): National Bank raised its price target to C$318.00 from C$271.00 and maintained an Outperform rating.
Sagicor Financial Company Ltd. (SFC:CA): Scotiabank maintained a Sector Outperform rating with a C$12.00 price target.
Snowline Gold Corp. (SGD:CA): Scotiabank maintained a Outperform rating with a C$23.00 price target.
Stantec Inc. (STN:CA): TD-Securities maintained a Buy rating with a C$132.00 price target.
Stantec Inc. (STN:CA): Scotiabank maintained a Sector Outperform rating with a C$133.00 price target.
Suncor Energy Inc. (SU:CA): JP Morgan raised its price target to C$114.00 from C$107.00.
Sylogist Ltd. (SYZ:CA): ATB Cormark downgraded the stock to Speculative Buy and lowered its price target to C$4.75 from C$5.50.
TD-Bank Group (TD:CA): Jefferies & Co raised its price target to C$159.00 from C$151.00.
TD-Bank Group (TD:CA): National Bank raised its price target to C$190.00 from C$162.00 and maintained an Outperform rating.
Vital Infrastructure Property Trust (VITL.UN:CA): Scotiabank maintained a Sector Perform rating with a C$6.50 price target.
Westport Fuel Systems Inc. (WPRT:CA): RBC Capital lowered its price target to C$1.40 from C$2.40 and maintained a Sector Perform rating.
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