Canadian Analyst Updates: June 29th, 2026

Canadian Analyst Updates: June 29th, 2026

Analyst Ratings (Canada)

Today’s nalyst sentiment was strongest toward the mining and precious metals sector, where most analysts maintained positive ratings despite a few target reductions. The energy sector also saw positive revisions as higher commodity price expectations supported target increases. Industrials, transportation, aerospace, and infrastructure companies benefited from several target upgrades, reflecting confidence in economic activity and project spending. The consumer discretionary sector remained favorable, led by continued optimism toward retail growth. Real estate and mortgage finance companies maintained largely positive ratings, supported by stable cash flows and attractive income profiles, while the technology and communications sectors received mixed but generally constructive assessments.

29 Analyst Updates

Aecon Group Inc. (ARE:CA) — Canaccord Genuity raised its target price to $57.00 from $56.00 while maintaining a Buy rating, reflecting continued confidence in the company’s infrastructure project pipeline and long-term growth opportunities.

Air Canada (AC:CA) — RBC Capital raised its target price to $28.00 from $22.00 while maintaining an Outperform rating, reflectingg improving travel demand, stronger earnings visibility, and continued operational execution.

Alamos Gold Inc. (AGI:CA) — Scotiabank maintained its Outperform rating with an $85.00 target price, reflecting confidence in the company’s production growth and leverage to higher gold prices.

Americas Gold & Silver Corp. (USA:CA) — TD Securities lowered its target price to $11.00 from $12.00 while maintaining a Buy rating, suggesting a more conservative valuation outlook while remaining positive on the company’s long-term prospects.

Aritzia Inc. (ATZ:CA) — National Bank raised its target price to $175.00 from $171.00 while maintaining an Outperform rating, reflecting strong brand momentum, sales growth, and margin expansion opportunities.

Atrium Mortgage Investment Corp. (AI:CA) — National Bank maintained a Sector Perform rating with a $12.00 target price, reflecting a balanced outlook on earnings and portfolio performance.

Bombardier Inc. (BBD.B:CA) — RBC Capital raised its target price to $383.00 from $332.00 while maintaining an Outperform rating, driven by confidence in business jet demand, margin improvement, and cash flow generation.

Calian Group Ltd. (CGY:CA) — Canaccord Genuity raised its target price to $105.00 from $103.00 while maintaining a Buy rating, reflecting steady growth expectations across its diversified operations.

Cameco Corp. (CCO:CA) — RBC Capital raised its target price to $175.00 from $160.00 while maintaining an Outperform rating, supported by favorable uranium market fundamentals and long-term nuclear power demand.

Canadian Natural Resources Ltd. (CNQ:CA) — Gerdes Energy Research raised its target price to $69.00 from $67.00 while maintaining a Buy rating, reflecting confidence in commodity prices and the company’s strong cash flow profile.

Cenovus Energy Inc. (CVE:CA) — Gerdes Energy Research raised its target price to $46.00 from $42.00 while maintaining a Buy rating, reflecting improving oil market fundamentals and earnings potential.

Corus Entertainment Inc. (CJR.B:CA) — TD Securities maintained a Sell rating with a $0.01 target price, reflecting ongoing concerns regarding the company’s financial outlook and industry challenges.

Dominion Lending Centres Inc. (DLCG:CA) — National Bank maintained an Outperform rating with an $11.00 target price, supported by expectations for stable mortgage brokerage activity and earnings growth.

DRI Healthcare Trust (DHT.UN:CA) — Raymond James raised its target price to $23.50 from $22.50 while maintaining a Strong Buy rating, reflecting confidence in the trust’s royalty portfolio and cash flow generation.

Equinox Gold Corp. (EQX:CA) — TD Securities lowered its target price to $20.00 from $23.00 while maintaining a Buy rating, suggesting valuation adjustments despite a favorable long-term outlook for gold.

Exchange Income Corp. (EIF:CA) — RBC Capital raised its target price to $150.00 from $127.00 while maintaining an Outperform rating, reflecting strong operational performance and acquisition-driven growth.

Firm Capital Mortgage Investment Corp. (FC:CA) — National Bank maintained an Outperform rating with a $12.00 target price, reflecting confidence in the company’s lending portfolio and dividend profile.

First Majestic Silver Corp. (AG:CA) — Scotiabank maintained a Sector Perform rating with a $32.50 target price, indicating a more balanced outlook despite favorable precious metals prices.

Hemlo Mining Corp. (HMMC:CA) — TD Securities maintained an Outperform rating with a $10.00 target price, reflecting positive expectations for exploration and development progress.

Hemlo Mining Corp. (HMMC:CA) — Scotiabank raised its target price to $10.00 while maintaining an Outperform rating, highlighting confidence in the company’s resource potential.

MCAN Mortgage Corp. (MKP:CA) — National Bank maintained an Outperform rating with a $27.00 target price, supported by stable mortgage market fundamentals and attractive income generation.

MDA Space Ltd. (MDA:CA) — Scotiabank maintained an Outperform rating with a $71.00 target price, reflecting continued optimism surrounding space infrastructure, satellite, and defense opportunities.

Omai Gold Mines Corp. (OMG:CA) — CIBC World Markets initiated coverage with an Outperform rating and a $4.50 target price, citing exploration upside and resource growth potential.

Primaris REIT (PMZ.UN:CA) — Canaccord Genuity raised its target price to $24.50 from $20.50 while maintaining a Buy rating, reflecting improving retail real estate fundamentals and cash flow growth.

Quebecor Inc. (QBR.B:CA) — TD Securities raised its target price to $78.00 from $69.00 while maintaining a Buy rating, supported by strong wireless subscriber growth and stable cash flow generation.

SSR Mining Inc. (SSRM:CA) — TD Securities maintained an Outperform rating with a $58.00 target price, reflecting confidence in the company’s operating performance and precious metals exposure.

SSR Mining Inc. (SSRM:CA) — Scotiabank maintained an Outperform rating with a $58.00 target price, highlighting a favorable outlook for production and earnings.

Suncor Energy Inc. (SU:CA) — Gerdes Energy Research raised its target price to $96.00 from $93.00 while maintaining a Buy rating, reflecting stronger oil price assumptions and robust free cash flow expectations.

Sylogist Ltd. (SYZ:CA) — ATB Cormark lowered its target price to $5.50 from $6.00 while maintaining an Outperform rating, indicating a more cautious valuation outlook while remaining positive on the company’s long-term growth prospects.

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