Analyst Ratings
Today’s analyst updates include widespread price target increases, especially across Canadian banks indicating modestly improving earnings expectations, but limited rating upgrades suggesting constrained upside due to macro risks, like interest rates and consumer weakness.
Cyclical and industrial names show selective strength, while energy and materials maintain stable outlooks supported by higher commodity prices, though without strong conviction in a sustained upcycle.
Meanwhile, mixed actions in small-cap and consumer-sensitive stocks highlight ongoing pressure in higher-rate environments.
Overall, the trend reflects incremental optimism in fundamentals, but not enough to signal a broad re-rating, keeping markets likely range-bound with a slight upward bias.
62 Analyst Updates
Bank of Montreal (BMO:CA) had its price target raised to $234 from $219 by TD Securities with a Buy rating.
Bank of Montreal (BMO:CA) had its price target raised to $212 from $208 by Desjardins Securities with a Hold rating.
Bank of Nova Scotia (BNS:CA) had its price target raised to $108 from $107 by Desjardins Securities with a Hold rating.
Bank of Nova Scotia (BNS:CA) had its price target raised to $112 from $111 by TD Securities with a Hold rating.
Boyd Group Services Inc. (BYD:CA) had its price target raised to $255 from $265 by Stifel with a Buy rating.
Cameco Corp. (CCO:CA) was maintained at Buy by TD Securities with a $185 price target.
Canadian Imperial Bank of Commerce (CM:CA) had its price target raised to $160 from $152 by Desjardins Securities with a Buy rating.
Canadian Imperial Bank of Commerce (CM:CA) had its price target raised to $166 from $153 by TD Securities with a Buy rating.
Cargojet Inc. (CJT:CA) was maintained at Outperform by CIBC with a $122 price target.
Colliers International Group Inc. (CIGI:CA) was maintained at Outperform by CIBC with a $218 price target.
Dollarama Inc. (DOL:CA) had its price target raised to $190 from $180 by Stifel with a Buy rating.
Dream Impact Trust (MPCT.UN-T) was maintained at Hold by TD Securities with a $2 price target.
EQB Inc. (EQB:CA) had its price target raised to $132 from $130 by Desjardins Securities with a Buy rating.
Ero Copper Corp. (ERO:CA) was maintained at Neutral by CIBC with a $52 price target.
Ero Copper Corp. (ERO:CA) was maintained at Outperform by Scotiabank with a $50 price target.
First Quantum Minerals Ltd. (FM:CA) had its price target lowered to $44 from $46 by CIBC with a Neutral rating.
Flagship Communities REIT (MHC-U:CA) was maintained at Outperform by Scotiabank with a $24 price target.
Flagship Communities REIT (MHC-U:CA) had its price target raised to $25 from $24 by TD Securities with a Buy rating.
Gibson Energy Inc. (GEI:CA) was maintained at Outperform by CIBC with a $32 price target.
Gibson Energy Inc. (GEI:CA) was maintained at Sector Perform by Scotiabank with a $29 price target.
Gibson Energy Inc. (GEI:CA) was maintained at Hold by TD Securities with a $29 price target.
Goeasy Ltd. (GSY:CA) had its price target cut to $46.50 from $50 by Raymond James with a Market Perform rating.
Keyera Corp. (KEY:CA) was maintained at Buy by TD Securities with a $62 price target.
Kneat.com Inc. (KSI:CA) had its price target raised to $7 from $6 by ATB Cormark with an Outperform rating.
Labrador Iron Ore Royalty Corp. (LIF:CA) was maintained at Hold by TD Securities with a $29 price target.
Methanex (MX:CA) was maintained at Outperform by Scotiabank with a $109 price target.
Morguard REIT (MRT-UN:CA) was maintained at Hold by TD Securities with a $6 price target.
National Bank of Canada (NA:CA) had its price target raised to $215 from $200 by Desjardins Securities with a Buy rating.
National Bank of Canada (NA:CA) had its price target raised to $202 from $182 by TD Securities with a Hold rating.
Orla Mining Ltd. (OLA:CA) was maintained at Outperform by Scotiabank with a $37 price target.
Pason Systems Inc. (PSI:CA) was upgraded to Buy from Hold by TD Securities and had its price target raised to $18 from $13.
RB Global Inc. (RBA:CA) had its price target raised to $202 from $199 by RBC Capital with an Outperform rating.
RB Global Inc. (RBA:CA) had its price target raised to $184 from $177 by BMO with an Outperform rating.
RB Global Inc. (RBA:CA) was maintained at Outperform by CIBC with a $182.50 price target.
Richards Group Inc. (RIC:CA) had its price target lowered to $41 from $42 by National Bank with an Outperform rating.
Richards Group Inc. (RIC:CA) had its price target lowered to $39 from $42 by Canaccord Genuity with a Buy rating.
RioCan REIT (REI-UN:CA) was maintained at Sector Perform by Scotiabank with a $20.50 price target.
RioCan REIT (REI-UN:CA) was maintained at Buy by TD Securities with a $23 price target.
Royal Bank of Canada (RY:CA) had its price target raised to $267 from $259 by TD Securities with a Buy rating.
Royal Bank of Canada (RY:CA) had its price target raised to $262 from $250 by Desjardins Securities with a Buy rating.
Russel Metals Inc. (RUS:CA) had its price target raised to $63 from $57 by TD Securities with a Buy rating.
Stella-Jones Inc. (SJ:CA) had its price target lowered to $106 from $107 by TD Securities with a Buy rating.
TFI International Inc. (TFII:CA) was maintained at Outperform by CIBC with a $220 price target.
Thinkific Labs Inc. (THNC:CA) had its price target lowered to $2.50 from $3.00 by ATB Cormark with a Sector Perform rating.
Thinkific Labs Inc. (THNC:CA) was assigned a Market Perform rating by BMO with a $2.00 price target.
Thinkific Labs Inc. (THNC:CA) had its price target lowered to $2.00 from $2.25 by CIBC with a Neutral rating.
Thomson Reuters Corp. (TRI:CA) was maintained at Buy by TD Securities with a $175 price target.
Thomson Reuters Corp. (TRI:CA) was maintained at Outperform by CIBC with a $169 price target.
TMX Group Ltd. (X:CA) had its price target raised to $64 from $63 by TD Securities with a Buy rating.
TMX Group Ltd. (X:CA) was maintained at Outperform by Scotiabank with a $70 price target.
TMX Group Ltd. (X:CA) had its price target raised to $64 from $63 by National Bank with a Sector Perform rating.
Toronto-Dominion Bank (TD:CA) had its price target raised to $154 from $145 by Desjardins Securities with a Buy rating.
Transcontinental Inc. (TCL-A:CA) was maintained at Buy by TD Securities with a $8 price target.
Wajax Corp. (WJX:CA) was maintained at Hold by TD Securities with a $35 price target.
Wajax Corp. (WJX:CA) had its price target lowered to $37 by Scotiabank with a Sector Perform rating.
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