Canadian Analyst Updates: Dec 1st, 2025

AG Growth International Inc. (AFN:CA) had its Neutral rating maintained by CIBC World Markets with a target price of $33.00 per share, reflecting stable outlook expectations.

Ag Growth International Inc. (AFN:CA) saw its target price reduced by National Bank to $37.00 from $49.00 while keeping an Outperform rating, reflecting revised valuation assumptions.

Air Canada (AC:CA) had its Outperform rating maintained by CIBC World Markets with a $23.00 target price, based on ongoing operational recovery trends.

Alamos Gold Inc. (AGI:CA) received a new target price of $64.00 from Desjardins Securities with a Buy rating, driven by updated commodity-price and production forecasts.

Allied Properties REIT (AP-UN:CA) had its Hold rating maintained by TD Securities with a $16.00 target, reflecting steady fundamentals.

Allied Properties REIT (AP-UN:CA) had its Neutral rating maintained by CIBC World Markets with a target cut to $14.00 from $15.50 due to refined NAV estimates.

Allied Properties REIT (AP.UN:CA) had its target lowered by National Bank to $13.00 from $14.00 while maintaining Sector Perform, citing continued sector pressure.

AtkinsRéalis Group Inc. (ATRL:CA) had its Buy rating maintained by TD Securities with a $125.00 target price, supported by improved project-execution expectations.

Barrick Mining (ABX:CA) had its Buy rating maintained by TD Securities with a $64.00 target price, driven by stable gold-price outlook.

Barrick Mining (ABX:CA) received a target increase from Canaccord Genuity to $70.00 from $68.00, reflecting updated valuation model.

Bird Construction Inc. (BDT:CA) had its Outperform rating maintained by CIBC World Markets with a $36.00 target, reflecting consistent project momentum.

Brookfield Renewable Partners LP (BEP-UN:CA) had its Outperform rating maintained by Scotiabank with a $49.00 target, based on sector-wide renewable-energy strength.

Canadian National Railway Co. (CNR:CA) was upgraded to Outperform by CIBC World Markets with a target price raised to $151.00 from $146.00 reflecting improved demand expectations.

Denison Mines Corp. (DML:CA) had its Buy rating maintained by TD Securities with a $5.00 target, reflecting supportive uranium-market fundamentals.

Dollarama Inc. (DOL:CA) saw its target raised by RBC Capital to $220.00 from $212.00, maintaining Outperform based on continued sales resilience.

Elemental Royalty Corp (ELE:CA) had its target price reduced by Canaccord Genuity to $33.00 from $38.00, reflecting updated royalty-asset valuations.

EQB Inc. (EQB:CA) received a target cut from TD Securities to $96.00 from $105.00 while maintaining Hold due to moderating loan-growth expectations.

European Residential REIT (ERE-UN:CA) had its Hold rating maintained by TD Securities with a $1.25 target, reflecting stable but limited growth prospects.

Fireweed Metals Corp (FWZ:CA) was initiated at Outperform by BMO Capital Markets with a $4.00 target, tied to exploration upside potential.

First Capital REIT (FCR-UN:CA) had its Buy rating maintained by TD Securities with a $22.00 target, supported by steady retail-property fundamentals.

Goodfood Market Corp. (FOOD:CA) had its target price lowered by Desjardins Securities to $0.25 from $0.30 while maintaining Hold, driven by margin-pressure considerations.

Groupe Dynamite Inc. (GRGD:CA) had its target raised by RBC Capital to $77.00 from $58.00 with an Outperform rating, citing improving retail-performance trends.

Highlander Silver Corp. (HSLV:CA) had its Outperform rating maintained by CIBC World Markets with a new target of $5.15, reflecting on encouraging exploration indicators.

K92 Mining Inc. (KNT:CA) received a new $26.00 target and Buy rating from Desjardins Securities, reflecting to updated production expectations.

Keyera Corp. (KEY:CA) had its Buy rating maintained by TD Securities with a $52.00 target, reflecting strong midstream-sector fundamentals.

Kinross Gold Corp. (K:CA) received a new $44.00 target and Buy rating from Desjardins Securities, driven by improving gold-production forecasts.

Montage Gold Corp. (MAU:CA) saw its target raised by Ventum Financial to $9.75 from $8.00 while maintaining Buy, supported by updated project economics.

New Gold Inc. (NGD:CA) had its target raised by TD Securities to $12.00 from $7.50 with a Buy rating, reflecting improved operating outlook.

NexGen Energy Ltd. (NXE:CA) had its Buy rating maintained by TD Securities with a $15.00 target, driven by supportive uranium-market conditions.

OceanaGold Corp. (OGC:CA) received a new $50.00 target and Buy rating from Desjardins Securities, based on updated production and commodity assumptions.

Rogers Sugar Inc. (RSI:CA) saw its target lifted by National Bank to $7.00 from $6.25 with a Sector Perform rating reflecting revised pricing forecasts.

Rogers Sugar Inc. (RSI:CA) had its target raised by BMO Capital Markets to $7.00 from $6.50 while maintaining Market Perform, reflecting stable operational trends.

Rogers Sugar Inc. (RSI:CA) was downgraded by TD Securities to Hold with a $7.00 target due to tempered growth outlook.

Rogers Sugar Inc. (RSI:CA) had its Sector Perform rating maintained by Scotiabank with a $6.50 target, reflecting constrained near-term catalysts.

Saputo Inc. (SAP:CA) had its target raised by TD Securities to $49.00 from $44.00 with a Buy rating due to improving margin outlook amid earnings recovery.

The Descartes Systems Group Inc. (DSG:CA) received a new target of $176.00 with an Outperform rating from RBC Capital, driven by strong software-demand trends.

Transat A.T. Inc. (TRZ:CA) had its Underperform rating maintained by CIBC World Markets with a $2.40 target, reflecting ongoing balance-sheet pressures.

Zoomd Technologies Ltd. (ZOMD:CA) had its target lowered by ATB Capital to $3.50 from $4.00 while maintaining Outperform, driven by sector-related valuation adjustments.