Canadian Analyst Updates: Nov 18th, 2025

Atrium Mortgage Investment Corp (AI:CA) received a new BUY rating from Fundamental Research with a $13.00 target price, reflecting the firm’s view that the company continues to offer attractive yield and stable mortgage income despite tighter credit conditions.

Bombardier Inc. (BBD-B:CA) had its Hold rating maintained by TD Securities, which raised its target to $203.00 from $197.00 due to ongoing margin improvements and strong demand in business jets, although leverage and execution risks remain.

BRP Inc. (DOO:CA) was assigned a new target price of $105.00, up from $101.00, by National Bank, reflecting resilient demand for recreational products and easing supply chain pressures.

DLP Resources Inc. (DLP:CA) received a new BUY rating and a $1.00 target price from Fundamental Research, reflecting optimism around its exploration potential and early-stage drill results.

Enterprise Group Inc. (E:CA) was initiated with a BUY rating and $2.38 target by Fundamental Research, based on improving infrastructure demand and strong recurring service revenues.

Flagship Communities REIT (MHC-U:CA) had its target price cut to $14.00 by Scotiabank, which maintained its Outperform rating as the REIT continues to face rate-driven valuation pressure despite steady occupancy and predictable cash flows.

Gildan Activewear Inc. (GIL:CA) received a reaffirmed Buy rating from TD Securities with a new $104.00 target price, driven by expectations of margin recovery and stable apparel demand.

GO Residential REIT (GO-U:CA) saw its target lowered to $14.00 by Scotiabank, which maintained its Outperform rating, highlighting solid property fundamentals but acknowledging higher financing costs weighing on valuations.

H&R REIT (HR-UN:CA) had its target price reduced to $12.50 by Scotiabank, which kept its Sector Perform rating amid ongoing portfolio repositioning and rate-sensitive valuation challenges.

Hudbay Minerals Inc. (HBM:CA) had its target price raised to $24.00 from $23.00 by BMO Capital Markets reflecting improving copper price outlook and stronger-than-expected production trends.

iA Financial Corporation Inc. (IAG:CA) had its Buy rating maintained by TD Securities with a $178.00 target price, reflecting continued strength in insurance fundamentals and solid capital generation.

Montage Gold Corp (MAU:CA) received a target increase to $9.00 from $8.00 by Canaccord Genuity, driven by improving project economics and ongoing exploration progress.

MTY Food Group Inc. (MTY:CA) saw Scotiabank raise its target to $41.00 from $39.00 while maintaining Sector Perform, reflecting stable franchise revenue but cautious consumer spending. TD Securities also maintained its Hold rating with a $37.00 target, reflecting valuation constraints relative to growth prospects.

RioCan REIT (REI-UN:CA) had its Buy rating maintained by TD Securities with a reaffirmed $21.00 target as the firm continues to benefit from strong retail occupancy and solid leasing momentum.

Sienna Senior Living Inc. (SIA:CA) received a target upgrade to $23.00 from $20.00 by CIBC World Markets, which kept its Outperform rating as improving occupancy trends and rate increases support earnings momentum.

Southern Silver Exploration Corp. (SSV:CA) was assigned a new BUY rating and $0.87 target by Fundamental Research reflecting on its high-grade silver potential and favorable exploration outlook.

Telus Corp (T:CA) had its target price cut to $19.00 from $22.00 by JP Morgan, which maintained its Underweight rating due to ongoing margin pressure, rising debt costs, and slower subscriber growth concerns, in which makes a  challenging competitive environment.

Thesis Gold (TAU:CA) had its Outperform rating maintained by Scotiabank along with a $3.00 target price, supported by continued exploration success and favorable long-term gold fundamentals.

TransAlta Corporation (TA:CA) also had its Outperform rating reaffirmed by Scotiabank, which kept its $27.00 target price based on the company’s strong power generation portfolio and improving free cash flow visibility.