Canadian Analyst Updates: May 6th, 2026

ADENTRA (ADEN:CA) was maintained at Outperform by CIBC with a $44 target.

ADENTRA (ADEN:CA) was maintained at Sector Perform by Scotiabank with a C$45 target.

ATCO Ltd. (ACO-X:CA) was maintained at Hold by TD Securities with a $67 target.

Ballard Power Systems (BLDP:CA) had its target raised by BMO to $2.90 with an Underperform rating.

Ballard Power Systems (BLDP:CA) had its target raised by ATB Cormark to C$5.90 with a Sector Perform rating.

Ballard Power Systems (BLDP:CA) had its target raised by National Bank to C$6.50 with a Sector Perform rating.

Ballard Power Systems (BLDP:CA) had its target raised by Raymond James to C$5.50 with a Market Perform rating.

Boardwalk REIT (BEI.UN:CA) was maintained at Sector Perform by Scotiabank with a $75.50 target.

Brookfield Renewable Partners (BEP-UN:CA) was maintained at Buy by TD Securities with a $39 target.

Cameco (CCO:CA) had its target raised by Canaccord Genuity to $195.00.

Cameco (CCO:CA) was maintained at Buy by TD Securities with a $185.00 target.

Cameco (CCO:CA) had its target raised by National Bank to $180.00 with an Outperform rating.

Cameco (CCO:CA) had its target raised by Desjardins Securities to $190.00 with a Buy rating.

Cameco (CCO:CA) had its target raised by Scotiabank to $175.00 with a Sector Outperform rating.

Canadian Utilities (CU:CA) was maintained at Hold by TD Securities with a $47 target.

Canfor (CFP:CA) was maintained at Buy by TD Securities with a $16 target.

Canfor (CFP:CA) was maintained at Neutral by CIBC with a $15 target.

Cannara Biotech (LOVE:CA) was maintained at Buy by TD Securities with a $3.25 target.

Cargojet (CJT:CA) had its target raised by TD Securities to $124.00 with a Buy rating.

Cargojet (CJT:CA) was maintained at Outperform by Scotiabank with a $115.00 target.

Cargojet (CJT:CA) had its target raised by National Bank to $108.00 with an Outperform rating.

Cargojet (CJT:CA) had its target lowered by BMO to $85.00 with a Market Perform rating.

Cenovus Energy (CVE:CA) was maintained at Outperform by CIBC with a $46 target.

Cenovus Energy (CVE:CA) was maintained at Buy by TD Securities with a $45 target.

Chemtrade Logistics (CHE-UN:CA) was maintained at Outperform by CIBC with a $19 target.

Colliers International (CIGI:CA) was maintained at Outperform by Scotiabank with a $204 target.

Colliers International (CIGI:CA) had its target lowered by BMO to $201.00 with an Outperform rating.

Colliers International (CIGI:CA) had its target lowered by RBC Capital to C$211.00 with an Outperform rating.

DPM Metals (DPM:CA) was maintained at Buy by TD Securities with an $82 target.

DPM Metals (DPM:CA) was maintained at Neutral by CIBC with a $64 target.

DPM Metals (DPM:CA) was maintained at Outperform by Scotiabank with a $57.00 target.

Dream Industrial REIT (DIR.UN:CA) was maintained at Outperform by CIBC with a $14.50 target.

Dream Industrial REIT (DIR.UN:CA) was maintained at Buy by TD Securities with a $15 target.

Dream Industrial REIT (DIR.UN:CA) was maintained at Outperform by Scotiabank with a $15.50 target.

EQB Inc. (EQB:CA) was maintained at Buy by TD Securities with a C$132.00 target.

Ero Copper (ERO:CA) was maintained at Outperform by Scotiabank with a C$50.00 target.

Ero Copper (ERO:CA) was upgraded to Outperform by National Bank with a $50.00 target.

First Capital REIT (FCR.UN:CA) was maintained at Neutral by CIBC with a $24.40 target.

First Capital REIT (FCR.UN:CA) was maintained at Sector Perform by Scotiabank with a C$24.50 target.

Flagship Communities REIT (MHC.U:CA) had its target raised by TD Securities to $25.00 with a Buy rating.

Flagship Communities REIT (MHC.U:CA) was maintained at Outperform by Scotiabank with a US$24.00 target.

Fortis (FTS:CA) was maintained at Outperform by CIBC with a $81 target.

Fortis (FTS:CA) was maintained at Buy by TD Securities with a $83 target.

Fuerte Metals (FMT:CA) was initiated at Outperformer by CIBC with a $16.00 target.

Gibson Energy (GEI:CA) was maintained at Sector Perform by Scotiabank with a C$29.00 target.

High Tide (HITI:CA) was maintained at Buy by TD Securities with a $6.50 target.

iA Financial (IAG:CA) was maintained at Neutral by CIBC with a $184 target.

iA Financial (IAG:CA) was downgraded to Hold by TD Securities with a $190.00 target from $193.00.

iA Financial (IAG:CA) was maintained at Sector Perform by Scotiabank with a $183.00 target.

iA Financial (IAG:CA) had its target lowered by National Bank to $179.00 with a Sector Perform rating.

IAMGOLD (IMG:CA) was maintained at Buy by TD Securities with a $36 target.

IAMGOLD (IAG:CA) was maintained at Outperform by CIBC with a $46 target.

IAMGOLD (IAG) was maintained at Sector Perform by Scotiabank with a $46.00 target.

Intact Financial (IFC:CA) had its target raised by Barclays to $327.00.

Intact Financial (IFC:CA) had its target lowered by TD Securities to $347.00 with a Buy rating.

Intact Financial (IFC:CA) had its target raised by Raymond James to $305.00 with an Outperform rating.

Intact Financial (IFC:CA) was maintained at Outperform by Scotiabank with a $320.00 target.

InterRent REIT (IIP.UN:CA) was maintained at Sell by TD Securities with a $13.55 target.

K-Bro Linen (KBL:CA) was maintained at Buy by TD Securities with a $50 target.

Keyera (KEY:CA) was maintained at Outperform by Scotiabank with a $55.00 target.

Kinaxis (KXS:CA) had its target lowered by Stifel to $200.00 with a Buy rating.

Loblaw (L:CA) was maintained at Outperform by CIBC with a $75 target.

Loblaw (L:CA) was maintained at Buy by TD Securities with a $75 target.

Lumine Group (LMN:CA) had its target lowered by RBC Capital to $35.00.

Lumine Group (LMN:CA) was maintained at Buy by TD Securities with a $39.00 target.

Lumine Group (LMN:CA) had its target lowered by Desjardins Securities to $36.00 with a Buy rating.

Nutrien (NTR:CA) had its target raised by TD Securities to $86.00 with a Buy rating.

Nutrien (NTR:CA) had its target raised by Raymond James to $122.00 with an Outperform rating.

Pan American Silver (PAAS:CA) was maintained at Outperform by CIBC with a $128 target.

Pan American Silver (PAAS:CA) was maintained at Hold by TD Securities with a $91 target.

Pan American Silver (PAAS) was maintained at Outperform by Scotiabank with a $88.00 target.

Propel Holdings (PRL:CA) was maintained at Sector Perform by Scotiabank with a $27.00 target.

Propel Holdings (PRL:CA) had its target lowered by Raymond James to $31.00 with an Outperform rating.

Restaurant Brands (QSR:CA) was maintained at Outperform by CIBC with a $110 target.

RioCan REIT (REI.UN:CA) had its target raised by TD Securities to $24.00 with a Buy rating.

RioCan REIT (REI.UN:CA) had its target raised by Scotiabank to $22.25 with a Sector Perform rating.

RioCan REIT (REI.UN:CA) had its target raised by Raymond James to $23.75 with an Outperform rating.

RioCan REIT (REI.UN:CA) had its target raised by Desjardins Securities to $24.00 with a Buy rating.

RioCan REIT (REI.UN:CA) had its target raised by Scotiabank to $22.25 with a Sector Perform rating.

RioCan REIT (REI.UN:CA) had its target raised by TD Securities to $24.00 with a Buy rating.

RioCan REIT (REI.UN:CA) had its target raised by BMO to $23.50 with an Outperform rating.

RioCan REIT (REI.UN:CA) had its target raised by National Bank to $24.25 with an Outperform rating.

Russel Metals (RUS:CA) had its target raised by BMO to $56.00.

Russel Metals (RUS:CA) was maintained at Outperform by Scotiabank with a C$54.00 target.

Saputo (SAP:CA) had its target lowered by National Bank to $44.00 with a Sector Perform rating.

Shopify (SHOP:CA) was maintained at Buy by TD Securities with a $159.00 target.

Shopify (SHOP:CA) was maintained at Outperform by Scotiabank with a US$200.00 target.

Shopify (SHOP:CA) had its target lowered by Barclays to $172 with an Equal-Weight rating.

Shopify (SHOP:CA) had its target lowered by Citizens to $204 with a Market Outperform rating.

Shopify (SHOP:CA) had its target lowered by Piper Sandler to $204 with an Overweight rating.

Shopify (SHOP:CA) had its target lowered by DA Davidson to $190 with a Buy rating.

Shopify (SHOP:CA) had its target lowered by Jefferies to $190 with a Hold rating.

Shopify (SHOP:CA) had its target lowered by ATB Cormark to $240.00 with an Outperform rating.

Shopify (SHOP:CA) had its target lowered by Citigroup to $212.

Shopify (SHOP:CA) had its target lowered by BMO to $197 with an Outperform rating.

Sienna Senior Living (SIA:CA) was maintained at Outperform by Scotiabank with a C$25.00 target.

Snowline Gold (SGD:CA) was maintained at Outperform by Scotiabank with a C$25.00 target.

South Bow (SOBO:CA) was maintained at Hold by TD Securities with a $44 target.

Spartan Delta (SDE:CA) had its target raised by TD Securities to C$16.00 with a Buy rating.

Spartan Delta (SDE:CA) had its target raised by BMO to $16.00 with an Outperform rating.

Spartan Delta (SDE:CA) had its target raised by TD Securities to $16.00 with a Buy rating.

Spartan Delta (SDE:CA) had its target raised by ATB Cormark to $17.00 with an Outperform rating.

Spartan Delta (SDE:CA) had its target raised by Ventum Capital to $15.00 with a Buy rating.

Spartan Delta (SDE:CA) had its target raised by National Bank to $16.00 with an Outperform rating.

Sprott (SII:CA) was maintained at Hold by TD Securities with a $190 target.

SSR Mining (SSRM:CA) was maintained at Outperform by CIBC with a $65 target.

SSR Mining (SSRM:CA) was maintained at Buy by TD Securities with a $53 target.

SSR Mining (SSRM:CA) was maintained at Outperform by Scotiabank with a C$55.00 target.

Stella-Jones (SJ:CA) was maintained at Outperform by CIBC with a $96 target.

Stella-Jones (SJ:CA) was maintained at Buy by TD Securities with a $106 target.

Suncor Energy (SU:CA) was maintained at Outperform by CIBC with a $110 target.

Suncor Energy (SU:CA) was maintained at Buy by TD Securities with a C$113.00 target.

Suncor Energy (SU:CA) was maintained at Sector Perform by Scotiabank with a C$90.00 target.

Tamarack Valley (TVE:CA) was maintained at Outperform by CIBC with a $12.25 target.

Thesis Gold (TAU:CA) was initiated at Outperformer by CIBC with a $6.00 target.

Thomson Reuters (TRI:CA) had its target raised by TD Securities to C$185.00 with a Buy rating.

Thomson Reuters (TRI:CA) had its target lowered by Scotiabank to $188.00 with a Outperform rating.

Timbercreek Financial (TF:CA) was maintained at Hold by TD Securities with a C$7.00 target.

TMX Group (X:CA) had its target raised by Scotiabank to C$71.00 with an Outperform rating.

TMX Group (X:CA) had its target raised by RBC Capital to $69.00 with an Outperform rating.

TMX Group (X:CA) had its target raised by BMO to $65.00 with an Outperform rating.

Topaz Energy (TPZ:CA) had its target raised by TD Securities to C$35.00 with a Buy rating.

Topaz Energy (TPZ:CA) was maintained at Outperform by Scotiabank with a C$35.00 target.

Topaz Energy (TPZ:CA) had its target raised by ATB Cormark to $35.00 with an Outperform rating.

Topaz Energy (TPZ:CA) had its target raised by CIBC to $34.50 with an Outperform rating.

Topicus.com (TOI:CA) had its target raised by TD Securities to C$145.00 with a Buy rating.

TransAlta (TA:CA) was maintained at Buy by TD Securities with a $27 target.

TransAlta (TA:CA) was maintained at Outperform by CIBC with a $24 target.

Triple Flag Precious Metals (TFPM:CA) was maintained at Outperform by CIBC with a $74 target.

Triple Flag Precious Metals (TFPM:CA) was maintained at Buy by TD Securities with a $62 target.

Vermilion Energy (VET:CA) was maintained at Neutral by CIBC with a $23 target.

Wajax (WJX:CA) had its target lowered by TD Securities to C$33.00 with a Hold rating.

Wajax (WJX:CA) had its target lowered by National Bank to $34.00 with an Outperform rating.