Canadian Analyst Updates: May 1st, 2026

Analyst Ratings (Canada)

Today’s analyst coverage updates show a clear bias toward target increases in sectors showing earnings resilience such as energy infrastructure, industrials, and select consumer names, while more rate-sensitive areas like REITs and some materials names saw mixed revisions and cautious stances.  Overall, the trend suggests analysts remain moderately bullish, but increasingly focused on profitability, balance sheet strength, and cash flow durability, with less tolerance for execution risk or stretched valuations, implying a market environment where stock selection and fundamentals will drive performance rather than broad multiple expansion.

94 Analyst Updates

AbraSilver Resource Corp. — Scotia Capital maintained an Outperform rating with a price target of $18.00.

Advantage Energy Ltd. — TD Securities maintained a Buy rating with a price target of $14.00.

AG Growth International Inc. — CIBC raised its price target to $23.00 from $19.00.

Agnico Eagle Mines Limited — CIBC maintained an Outperform rating with a price target of $413.00.

Agnico Eagle Mines Limited — Scotia Capital maintained an Outperform rating with a price target of $380.00.

Air Canada — CIBC maintained an Outperform rating with a price target of $22.00.

Air Canada — Scotia Capital maintained a Sector Perform rating with a price target of $21.00.

Allied Properties REIT — CIBC lowered its price target to $10.50 with a Neutral rating.

Allied Properties REIT — Desjardins Securities raised its price target to $9.75 with a Hold rating.

Allied Properties REIT — National Bank lowered its price target to $10.50 with a Sector Perform rating.

Allied Properties REIT — Raymond James lowered its price target to $9.50 with a Market Perform rating.

Allied Properties REIT — TD Securities maintained a Hold rating with a price target of $10.00.

Allied Properties REIT — Scotia Capital maintained a Sector Perform rating with a price target of $10.75.

AltaGas Ltd. — ATB Cormark raised its price target to $56.00 with an Outperform rating.

AltaGas Ltd. — RBC Capital raised its price target to $55.00 with an Outperform rating.

AltaGas Ltd. — National Bank raised its price target to $52.00 with an Outperform rating.

AltaGas Ltd. — TD raised its price target to $55.00 with a Buy rating.

AltaGas Ltd. — Scotia Capital raised its price target to $57.00 with a Sector Outperform rating.

Aritzia Inc. — CIBC raised its price target to $155.00 with an Outperform rating.

Arizona Metals Corp. — National Bank lowered its price target to $0.25 with a Sector Perform rating.

Arizona Metals Corp. — Scotia Capital lowered its price target to $0.50 with a Sector Perform rating.

Badger Infrastructure Solutions Ltd. — CIBC maintained an Outperform rating with a price target of $78.00.

Badger Infrastructure Solutions Ltd. — National Bank upgraded to an Outperform rating with a price target of $74.00.

Bombardier Inc. — UBS raised its price target to $315.00.

Bombardier Inc. — BMO raised its price target to $320.00.

Bombardier Inc. — Scotia Capital raised its price target to $305.00 with an Outperform rating.

Bombardier Inc. — CIBC raised its price target to $295.00 with a Neutral rating.

Bombardier Inc. — RBC Capital raised its price target to $332.00 with an Outperform rating.

Bombardier Inc. — Desjardins Securities raised its price target to $324.00 with a Buy rating.

Bombardier Inc. — National Bank lowered its price target to $296.00 with a Sector Perform rating.

Bombardier Inc. — TD Securities raised its price target to $284.00 with a Hold rating.

Boyd Group Services Inc. — National Bank lowered its price target to $265.00 with an Outperform rating.

Brookfield Infrastructure Partners L.P. — TD Securities maintained a Buy rating with a price target of $77.00.

Brookfield Renewable Partners L.P. — TD Securities maintained a Buy rating with a price target of $52.00.

Brookfield Renewable Partners L.P. — CIBC maintained an Outperform rating with a price target of $54.00.

Canada Packers Inc. — TD Securities maintained a Buy rating with a price target of $24.00.

Capstone Copper Corp. — National Bank lowered its price target to $14.00 with an Outperform rating.

Capstone Copper Corp. — TD Securities maintained a Buy rating with a price target of $16.00.

Capstone Copper Corp. — Scotia Capital maintained an Outperform rating with a price target of $15.50.

Champion Iron Ltd. — Scotia Capital lowered its price target to $6.25 while maintaining an Outperform rating.

Choice Properties REIT — CIBC upgraded to an Outperform rating with a price target of $16.50.

Choice Properties REIT — Scotia Capital maintained an Outperform rating with a price target of $17.50.

Eldorado Gold Corporation — CIBC maintained a Neutral rating with a price target of $73.00.

Eldorado Gold Corporation — TD Securities maintained a Hold rating with a price target of $54.00.

Eldorado Gold Corporation — Scotia Capital maintained an Outperform rating with a price target of $76.00.

Endeavour Mining PLC — National Bank raised its price target to $116.00 with an Outperform rating.

Endeavour Mining PLC — Scotia Capital maintained an Outperform rating with a price target of $100.00.

Fairfax Financial Holdings Limited — Scotia Capital maintained an Outperform rating with a price target of $3,150.00.

GFL Environmental Inc. — CIBC maintained an Outperform rating with a price target of $77.00.

GFL Environmental Inc. — National Bank raised its price target to $81.00 with an Outperform rating.

Gildan Activewear Inc. — Scotia Capital maintained an Outperform rating with a price target of $100.00.

Gildan Activewear Inc. — National Bank raised its price target to $101.00 with an Outperform rating.

Gildan Activewear Inc. — TD Securities maintained a Buy rating with a price target of $80.00.

Great-West Lifeco Inc. — Jefferies raised its price target to $83.00 from $70.00.

Headwater Exploration Inc. — CIBC maintained an Outperform rating with a price target of $16.50.

Imperial Oil Ltd. — CIBC maintained an Underperform rating with a price target of $150.00.

Imperial Oil Ltd. — TD Securities maintained a Sell rating with a price target of $157.00.

Kinross Gold Corp. — ATB Cormark upgraded to an Outperform rating with a price target of $56.00.

Magna International Inc. — Scotia Capital maintained an Outperform rating with a price target of $98.00.

Magna International Inc. — CIBC maintained an Outperform rating with a price target of $103.00.

Magna International Inc. — TD Securities raised its price target to $76.00 with a Buy rating.

Martinrea International Inc. — CIBC maintained an Outperform rating with a price target of $12.50.

Martinrea International Inc. — TD Securities maintained a Buy rating with a price target of $15.00.

Methanex Corp. — JPMorgan raised its price target to $88.00 with a Neutral rating.

Methanex Corp. — RBC Capital raised its price target to $95.00 with a Sector Perform rating.

Methanex Corp. — CIBC raised its price target to $93.00 with a Neutral rating.

NFI Group Inc. — Stifel raised its price target to $25.50 with a Buy rating.

Northland Power Inc. — Desjardins raised its price target to $24.00 with a Hold rating.

Open Text Corp. — TD Securities maintained a Hold rating with a price target of $38.00.

Precision Drilling Corp. — CIBC raised its price target to $160.00.

Precision Drilling Corp. — TD Securities maintained a Hold rating with a price target of $130.00.

Precision Drilling Corp. — National Bank maintained a Sector Perform rating with a price target of $150.00.

Precision Drilling Corp. — ATB Cormark raised its price target to $175.00 with an Outperform rating.

Precision Drilling Corp. — Raymond James maintained an Outperform rating with a price target of $165.00.

Primaris REIT — CIBC raised its price target to $22.00 from $20.00 while maintaining an Outperform rating.

Primaris REIT — Scotia Capital raised its price target to $19.75 from $18.75 while maintaining a Sector Perform rating.

Primaris REIT — Desjardins Securities raised its price target to $21.50 from $20.00 while maintaining a Buy rating.

Primaris REIT — RBC Capital raised its price target to $21.00 from $20.00 while maintaining an Outperform rating.

Primaris REIT — TD Securities maintained a Buy rating with a price target of $20.00 from $19.50.

Primaris REIT — Scotia Capital reiterated a Sector Perform rating with a price target of $19.75.

Real Matters Inc. — TD Securities maintained a Buy rating with a price target of $9.00.

Secure Waste Infrastructure Corp. — Scotia Capital raised its price target to $24.00 with a Sector Perform rating.

Secure Waste Infrastructure Corp. — National Bank raised its price target to $23.00 with a Sector Perform rating.

South Bow Corp. — TD Securities raised its price target to $44.00 with a Hold rating.

Spin Master Corp. — Jefferies raised its price target to $26.00 with a Buy rating.

Spin Master Corp. — TD Securities maintained a Buy rating with a price target of $26.00.

Sun Life Financial Inc. — Jefferies raised its price target to $115.00 from $103.00.

TC Energy Corp. — TD Securities raised its price target to $90.00 with a Hold rating.

TC Energy Corp. — CIBC maintained an Outperform rating with a price target of $89.00.

Torex Gold Resources Inc. — Scotia Capital upgraded to an Outperform rating with a price target of $95.00.

WELL Health Technologies Corp. — CIBC maintained an Outperform rating with a price target of $5.50.

West Fraser Timber Co. Ltd. — CIBC World Markets lowered its price target to $100.00, with a Neutral rating.

West Fraser Timber Co. Ltd. — TD Securities lowered its price target to $86.00 with a Buy rating.

Zoomd Technologies Ltd. — ATB Cormark raised its price target to $2.00 with a Speculative Buy rating.