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Canadian Analyst Updates — October 20th, 2026

Canadian Analyst Updates — October 20, 2026
Today’s Canadian analyst updates show a mixed outlook, with generally positive revisions across energy and oilfield services, while precious metals and telecommunications attracted more cautious target adjustments.

Updates (45)- 21 Target Increases, 20 Target Decreases

Agnico Eagle Mines Ltd. (AEM:CA) — National Bank maintained its Outperform rating and lowered its price target to $310.00 from $315.00.

Agnico Eagle Mines Ltd. (AEM:CA) — TD Securities maintained its Buy rating and lowered its price target to $242.00 from $244.00.

AGT Food and Ingredients Inc. (AGTF:CA) — Desjardins Securities set a $26.00 price target. 

Altius Minerals Corp. (ALS:CA) — TD Securities maintained its Hold rating with a $67.00 price target.

AtkinsRéalis Group Inc. (ATRL:CA) — TD Securities maintained its Buy rating with a $118.00 price target.

AtkinsRéalis Group Inc. (ATRL:CA) — CIBC maintained its Outperform rating.

Barrick Mining Corp. (ABX:CA) — TD Securities maintained its Buy rating and lowered its price target to $58.00 from $59.00.

Barrick Mining Corp. (ABX:CA) — National Bank maintained its Outperform rating and lowered its price target to $72.50 from $75.00.

BCE-Inc. (BCE:CA) — Scotiabank maintained its Outperform rating and lowered its price target to $36.50 from $40.00.

BlackBerry Ltd. (BB:CA) — TD Securities maintained its Buy rating with an $11.25 price target.

Canadian Natural Resources Ltd. (CNQ:CA) — Desjardins Securities maintained its Hold rating and raised its price target to $74.00 from $73.00.

Canadian Natural Resources Ltd. (CNQ:CA) — National Bank maintained its Sector Perform rating and raised its price target to $86.00 from $84.00.

Cenovus Energy Inc. (CVE:CA) — National Bank maintained its Outperform rating and raised its price target to $58.00 from $57.00.

Cenovus Energy Inc. (CVE:CA) — Desjardins Securities maintained its Buy rating and raised its price target to $53.00 from $52.00.

CES Energy Solutions Corp. (CEU:CA) — TD Securities maintained its Hold rating and raised its price target to $19.00 from $18.00.

Cogeco Communications Inc. (CCA:CA) — Scotiabank maintained its Sector Perform rating and lowered its price target to $64.50 from $68.00.

Enerflex Ltd. (EFX:CA) — TD Securities maintained its Buy rating and raised its price target to $46.00 from $43.00.

Ensign Energy Services Inc. (ESI:CA) — TD Securities upgraded its rating from Hold to Buy and raised its price target to $4.75 from $3.50.

Equinox Gold Corp. (EQX:CA) — TD Securities maintained its Buy rating with a $20.00 price target.

Fiera Capital Corp. (FSZ:CA) — Desjardins Securities maintained its Hold rating and lowered its price target to $3.00 from $4.00.

Gildan Activewear Inc. (GIL:CA) — TD Securities maintained its Buy rating with a $76.00 price target.

Gildan Activewear Inc. (GIL:CA) — RBC Capital maintained its Outperform rating and lowered its target to C$98.00 from C$115.00.

Greenfire Resources Ltd. (GFR:CA) — National Bank maintained its Outperform rating and lowered its price target to $11.50 from $12.00.

H&R REIT (HR.UN:CA) — TD Securities maintained its Buy rating with an $11.00 price target.

IAMGOLD Corp. (IMG:CA) — TD Securities maintained its Buy rating with a $34.00 price target.

Imperial Oil Ltd. (IMO:CA) — National Bank maintained its Sector Perform rating and raised its price target to $213.00 from $207.00.

Imperial Oil Ltd. (IMO:CA) — Desjardins Securities maintained its Hold rating and raised its price target to $172.00 from $165.00.

K92 Mining Inc. (KNT:CA) — TD Securities maintained its Buy rating with a $31.00 price target.

Kinross Gold Corp. (K:CA) — National Bank maintained its Outperform rating and lowered its price target to $42.50 from $45.00.

Lundin Mining Corp. (LUN:CA) — Stifel Nicolaus maintained its Buy rating and raised its price target to $42.00 from $40.00.

Mullen Group Ltd. (MTL:CA) — CIBC maintained its Neutral rating with a $29.00 price target.

Mullen Group Ltd. (MTL:CA) — Desjardins Securities maintained its Buy rating and raised its price target to $31.00 from $30.00.

Ovintiv Inc. (OVV:CA) — National Bank maintained its Outperform rating and raised its price target to $132.00 from $128.00.

Pason Systems Inc. (PSI:CA) — TD Securities downgraded its rating from Buy to Hold and assigned a $15.00 price target.

PrairieSky Royalty Ltd. (PSK:CA) — National Bank maintained its Outperform rating and raised its price target to $43.00 from $42.00.

Precision Drilling Corp. (PD:CA) — TD Securities upgraded its rating from Hold to Buy and raised its price target to $150.00 from $116.00.

Rogers Communications Inc. (RCI-A:CA) — Scotiabank maintained its Outperform rating and lowered its price target to $60.00 from $61.00.

Saturn Oil & Gas Inc. (SOIL:CA) — National Bank maintained its Sector Perform rating and raised its price target to $11.50 from $10.00.

Saturn Oil & Gas Inc. (SOIL:CA) — ATB Cormark maintained its Outperform rating and raised its price target to $12.00 from $9.00.

Saturn Oil & Gas Inc. (SOIL:CA) — Ventum Capital maintained its Buy rating and raised its price target to $13.00 from $9.00.

Strathcona Resources Ltd. (SCR:CA) — National Bank maintained its Outperform rating and lowered its price target to $62.00 from $63.00.

Suncor Energy Inc. (SU:CA) — National Bank maintained its Outperform rating and lowered its price target to $145.00 from $146.00.

Suncor Energy Inc. (SU:CA) — Desjardins Securities maintained its Buy rating and raised its price target to $117.00 from $110.00.

Superior Plus Corp. (SPB:CA) — TD Securities lowered its price target to $7.50 from $8.00.

Teck Resources Ltd. (TECK-B:CA) — Stifel Nicolaus maintained its Hold rating and raised its price target to $133.50 from $115.00.

TELUS Corp. (T:CA) — Scotiabank maintained its Sector Perform rating and lowered its price target to $15.25 from $17.00.

Thomson Reuters Corp. (TRI:CA) — CIBC maintained its Outperform rating and lowered its price target to $174.00.

Trican Well Service Ltd. (TCW:CA) — TD Securities maintained its Buy rating and raised its price target to $8.00 from $7.50.

Vermilion Energy Inc. (VET:CA) — National Bank maintained its Outperform rating and raised its price target to $28.00 from $27.00.

Whitecap Resources Inc. (WCP:CA) — National Bank maintained its Outperform rating and raised its price target to $28.00 from $27.00.

Whitecap Resources Inc. (WCP:CA) — Desjardins Securities maintained its Buy rating and raised its price target to $24.00 from $23.00.

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