Canadian Analyst Updates: Jan 28th, 2026

Analyst Ratings (Canada)

The following are today’s 36 entries of the latest analyst ratings tracked for Canadian-listed and Canadian-traded stocks, with several brokerages adjusting their outlooks and target prices in response to company-specific developments, earnings expectations, commodity fluctuations, and broader sector trends.

AbraSilver Resource Corp. (ABRA:CA): Scotiabank maintained its Outperform rating with a $14.00 price target, reflecting continued confidence in the company’s exploration and development prospects.

AGF Management Ltd. (AGF.B:CA): Desjardins Securities raised its price target to $20.00 from $18.50 while maintaining a Buy rating, reflectingg improving fundamentals.

AGF Management Ltd. (AGF.B:CA): RBC Capital increased its target to $22.00 from $18.00 and reiterated an Outperform rating.

AGF Management Ltd. (AGF.B:CA): Scotiabank raised its price target to $18.25 from $17.50 while maintaining a Sector Perform rating.

AGF Management Ltd. (AGF.B:CA): TD Securities lifted its target to $20.00 from $18.00 and reaffirmed a Buy rating.

AGF Management Ltd. (AGF-B:CA): TD Securities raised its target to $20.00 from $18.00, reiterating a Buy recommendation.

Aya Gold & Silver Inc. (AYA:CA): Scotiabank maintained its Outperform rating with a $29.00 price target, reflecting positive views on operational execution and silver leverage.

Bank of Montreal (BMO:CA): TD Securities raised its price target to $209.00 from $184.00 and maintained a Buy rating, supported by earnings resilience and capital strength.

BRP Inc. (DOO:CA): Scotiabank maintained a Sector Perform rating with a $117.00 price target, reflecting balanced risk-reward conditions.

Celestica Inc. (CLS:CA): Bank of America initiated coverage with a Buy rating and a $541.00 price target, reflecting strong exposure to AI and advanced manufacturing demand.

Celestica Inc. (CLS:CA): TD Securities maintained a Hold rating with a $305.00 target.

CGI Inc. (GIB-A:CA): TD Securities raised its price target to $153.00 from $145.00 while reiterating a Buy rating.

Champion Iron Ltd. (CIA:CA): TD Securities maintained its Buy rating with a $7.00 price target, supported by iron ore fundamentals and operational stability.

Collective Mining Ltd. (CNL:CA): Scotiabank maintained an Outperform rating with a $28.00 target, reflecting ongoing exploration upside.

Empire Company Ltd. (EMP-A:CA): TD Securities maintained a Hold rating with a $50.00 price target.

FirstService Corp. (FSV:CA): TD Securities maintained its Buy rating and $211.00 price target, highlighting defensive growth characteristics.

Fortis Inc. (FTS:CA): Jefferies lowered its price target to $70.00 from $72.00, reflecting valuation adjustments amid rate sensitivity.

Hydro One Ltd. (H:CA): Jefferies reduced its target to $50.00 from $52.00, reflecting regulatory and interest rate considerations.

Information Services Corp. (ISC:CA): CIBC World Markets raised its price target to $49.00 from $37.00, reflecting improved earnings visibility.

Loblaw Companies Ltd. (L:CA): National Bank raised its target to $66.00 from $62.00 and maintained an Outperform rating, supported by stable food retail margins.

MDA Space Ltd. (MDA:CA): BMO Capital Markets increased its price target to $45.00 from $36.00 and maintained an Outperform rating, driven by contract momentum and backlog growth.

Metro Inc. (MRU:CA): BMO Capital Markets lowered its target to $110.00 from $115.00 while maintaining an Outperform rating.

Metro Inc. (MRU:CA): CIBC World Markets cut its target to $101.00 from $105.00 and reiterated a Neutral rating.

Metro Inc. (MRU:CA): Desjardins Securities raised its target to $99.00 from $105.00, maintaining a Hold rating.

Metro Inc. (MRU:CA): National Bank lowered its target to $106.00 from $107.00 and maintained a Sector Perform rating.

Metro Inc. (MRU:CA): RBC Capital raised its target to $112.00 from $113.00 while maintaining Sector Perform.

Metro Inc. (MRU:CA): Scotiabank lowered its target to $103.00 from $110.00, maintaining an Outperform rating.

Metro Inc. (MRU:CA): TD Securities reduced its target to $113.00 from $118.00 while reiterating a Buy rating.

Montage Gold Corp. (MAU:CA): BMO Capital Markets raised its price target to $20.00 from $10.00 and maintained an Outperform rating, reflecting significant project revaluation.

Skeena Resources Ltd. (SKE:CA): Scotiabank maintained an Outperform rating with a $44.00 price target.

Spartan Delta Corp. (SDE:CA): Ventum Financial raised its target to $10.50 from $9.00 and reiterated a Buy rating, supported by improving production outlook.

TNR Gold Corp. (TNR:CA): Fundamental Research initiated coverage with a Buy rating and a $0.35 price target.

VerticalScope Holdings Inc. (FORA:CA): National Bank lowered its target to $4.50 from $5.50 while maintaining a Sector Perform rating.

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