Analyst Ratings (Canada)
Analyst sentiment remains broadly positive, with the strongest support focused on energy infrastructure, utilities, financials, and mining sectors. Energy infrastructure and utility companies received multiple target price increases, reflecting confidence in stable cash flows, dividend sustainability, and long-term demand trends. The financial sector also saw improving sentiment as analysts highlighted strong capital positions, earnings growth potential, and attractive valuations. Mining stocks benefited from higher targets amid supportive commodity fundamentals and continued demand for critical resources. Technology and communication sectors remained more selective, with analysts balancing long-term growth opportunities against valuation concerns. Overall, the market outlook remains moderately bullish, with investors favoring companies with resilient earnings, strong balance sheets, and sustainable long-term growth prospects.
52 Analyst Updates
5N Plus Inc. (VNP:CA) – RBC Capital initiated coverage with an Outperform rating and a $41.00 target price, reflecting a positive outlook on the company’s growth prospects.
Alithya Group Inc. (ALYA:CA) – Desjardins Securities lowered its target price to $1.55 from $1.75 while maintaining a Buy rating, indicating continued confidence despite valuation adjustments.
AltaGas Ltd. (ALA:CA) – Scotiabank increased its target price to $62.00 from $57.00 while maintaining a Outperform rating, reflecting improving confidence in cash flow growth.
Atco Ltd. (ACO.X:CA) – Scotiabank raised its target price to $79.00 from $70.00 while maintaining a Sector Perform rating.
Badger Infrastructure Solutions Ltd. (BDGI:CA) – TD Securities raised its target price to $94.00 from $92.00 while maintaining a Buy rating, reflecting stronger operational expectations.
Badger Infrastructure Solutions Ltd. (BDGI:CA) – TD Securities also increased its target price to $94.00 from $82.00, reaffirming its positive outlook on the company.
BCE Inc. (BCE:CA) – Morgan Stanley increased its target price to $35.00 from $31.00 while maintaining an Equal Weight rating.
Canadian Utilities Ltd. (CU:CA) – Scotiabank raised its target price to $53.00 from $50.00 while maintaining a Sector Perform rating.
Capstone Copper Corp. (CS:CA) – Stifel Nicolaus increased its target price to $21.00 from $20.00 while maintaining a Buy rating, supported by a constructive copper outlook.
CGI Inc. (GIB.A:CA) – Desjardins Securities reduced its target price to $117.00 from $147.00 while maintaining a Buy rating, reflecting valuation adjustments.
Dexterra Group Inc. (DXT:CA) – National Bank raised its target price to $20.50 from $16.50 and maintained an Outperform rating.
Emera Inc. (EMA:CA) – JPMorgan increased its target price to $79.00 from $73.00, reflecting improved expectations.
Emera Inc. (EMA:CA) – Scotiabank raised its target price to $80.00 from $78.00 while maintaining a Sector Outperform rating.
Enbridge Inc. (ENB:CA) – Scotiabank increased its target price to $84.00 from $78.00 while maintaining a Sector Outperform rating, reflecting confidence in infrastructure cash flows.
Ero Copper Corp. (ERO:CA) – RBC Capital increased its target price to $53.00 from $52.00, reflecting improving copper market expectations.
Ero Copper Corp. (ERO:CA) – Stifel Nicolaus raised its target price to $53.00 from $52.00 while maintaining a Hold rating.
First Quantum Minerals Ltd. (FM:CA) – Stifel Nicolaus raised its target price to $55.00 from $52.00 while maintaining a Buy rating.
Gibson Energy Inc. (GEI:CA) – Scotiabank increased its target price to $31.00 from $29.00 while maintaining a Sector Perform rating.
Goeasy Ltd. (GSY:CA) – Raymond James raised its target price to $45.00 from $42.00 while maintaining a Market Perform rating.
Great-West Lifeco Inc. (GWO:CA) – Jefferies increased its target price to $107.00 from $84.00 while maintaining a Buy rating, reflecting stronger earnings expectations.
Great-West Lifeco Inc. (GWO:CA) – TD Securities raised its target price to $98.00 from $80.00 while maintaining a Buy rating.
Hudbay Minerals Inc. (HBM:CA) – Stifel Nicolaus increased its target price to $43.00 from $41.00 while maintaining a Buy rating.
IA Financial Corp. Inc. (IAG:CA) – TD Securities raised its target price to $214.00 from $190.00 while maintaining a Hold rating.
Ivanhoe Mines Ltd. (IVN:CA) – Canaccord Genuity increased its target price to $13.00 from $12.00 while maintaining a Buy rating.
Keyera Corp. (KEY:CA) – Scotiabank raised its target price to $66.00 from $65.00 while maintaining a Outperform rating.
Lundin Mining Corp. (LUN:CA) – TD Securities maintained its Buy rating with a $43.00 target price.
Manulife Financial Corp. (MFC:CA) – TD Securities increased its target price to $65.00 from $58.00 while maintaining a Buy rating.
Manulife Financial Corp. (MFC:CA) – Jefferies raised its target price to $70.00 from $61.00 while maintaining a Buy rating.
North American Construction Group (NOA:CA) – CIBC maintained its Neutral rating with a $25.00 target price.
Pembina Pipeline Corp. (PPL:CA) – Scotiabank increased its target price to $73.00 from $69.00 while maintaining a Sector Perform rating.
Rogers Communications Inc. (RCI.B:CA) – Morgan Stanley increased its target price to $42.00 from $50.00, while maintaining its existing rating.
Shopify Inc. (SHOP:CA) – Rothschild lowered its target price to $183.00 from $226.00 while downgrading the stock to Neutral, reflecting valuation concerns.
South Bow Corp. (SOBO:CA) – Scotiabank increased its target price to $55.00 from $51.00, reflecting improved valuation expectations.
Sun Life Financial Inc. (SLF:CA) – TD Securities increased its target price to $121.00 from $107.00 while maintaining a Buy rating.
Sun Life Financial Inc. (SLF:CA) – Jefferies raised its target price to $131.00 from $115.00 while maintaining a Buy rating.
TC Energy Corp. (TRP:CA) – Scotiabank increased its target price to $105.00 from $97.00 while maintaining a Sector Outperform rating.
Telus Corp. (T:CA) – Morgan Stanley cut its target price to $13.00 from $20.00 while maintaining an Underweight rating, reflecting a more cautious outlook.
Telus Corp. (T:CA) – TD Securities maintained its Buy rating with a $19.00 target price.
Tidewater Midstream & Infrastructure Ltd. (TWM:CA) – National Bank increased its target price to $25.00 from $17.00 while maintaining an Outperform rating.
Tidewater Midstream & Infrastructure Ltd. (TWM:CA) – Scotiabank raised its target price to $21.00 from $17.00 while maintaining a Sector Perform rating.
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