Analyst Ratings (Canada)
Today’s Canadian analyst updates point to a selective market outlook. Utilities and power producers saw the broadest price target cuts, suggesting a more cautious view of rate sensitive and regulated businesses, although several infrastructure and renewable holdings retained Buy ratings. Materials were firmer, with positive copper and precious metals coverage, while energy was mixed: targets rose for some companies but fell for others. Industrial updates were similarly divided, with gains in metals distribution and transportation offset by cuts elsewhere. Telecommunications targets weakened, and consumer related coverage remained cautious. Overall, analysts are distinguishing between companies with stronger growth prospects and those facing tighter valuation or operating expectations, rather than signalling a overall bearish Canadian market.
Analyst Updates (37)
Ag Growth International Inc. (AFN:CA) — TD Securities maintained its Hold rating with a C$11.00 price target.
Algonquin Power & Utilities Corp. (AQN:CA) — Scotiabank lowered its price target to C$9.00 from C$10.00.
AltaGas Ltd. (ALA:CA) — Scotiabank lowered its price target to C$61.00 from C$62.00.
ATCO Ltd. (ACO.X:CA) — Scotiabank lowered its price target to C$80.00 from C$81.00.
AutoCanada Inc. (ACQ:CA) — CIBC maintained its Neutral rating with a C$26.00 price target.
Banyan Gold Corp. (BYN:CA) — National Bank maintained its Outperform rating with a C$3.00 price target.
Brookfield Business Corporation (BBUC:CA) — CIBC maintained its Outperform rating with a C$58.00 price target.
Brookfield Business Corporation (BBUC:CA) — Scotiabank raised its price target to C$60.00 from C$58.00 and assigned an Outperform rating.
Brookfield Infrastructure Partners (BIPC:CA) — TD Securities maintained its Buy rating with a C$84.00 price target.
Brookfield Renewable Partners L.P. (BEP-UN:CA) — TD Securities maintained its Buy rating with a C$55.00 price target.
Canadian Utilities Limited (CU:CA) — Scotiabank lowered its price target to C$53.00 from C$54.00.
Capital Power Corporation (CPX:CA) — Scotiabank lowered its price target to C$76.00 from C$79.00.
Cascades Inc. (CAS:CA) — CIBC raised its price target to C$23.00 from C$17.50.
Crombie REIT (CRR-UN:CA) — CIBC maintained its Outperform rating with a C$18.00 price target.
E3 Lithium Ltd. (ETL:CA) — ATB Cormark lowered its price target to C$3.75 from C$4.00.
Emera Incorporated (EMA:CA) — Scotiabank lowered its price target to C$76.00 from C$80.00.
First Quantum Minerals Ltd. (FM:CA) — TD Securities maintained its Buy rating with a C$47.00 price target.
Fortis Inc. (FTS:CA) — Scotiabank lowered its price target to C$78.00 from C$81.00.
Franco-Nevada Corp. (FNV:CA) — TD Securities maintained its Buy rating with a C$388.00 price target.
Gibson Energy Inc. (GEI:CA) — ATB Cormark raised its price target to C$35.00 from C$34.00.
goeasy Ltd. (GSY:CA) — TD Securities maintained its Hold rating with a C$50.00 price target.
Hudbay Minerals Inc. (HBM:CA) — Haywood Securities raised its price target to C$45.00 from C$43.00.
Hudbay Minerals Inc. (HBM:CA) — Raymond James raised its price target to C$43.00 from C$42.00.
Hydro One Limited (H:CA) — Scotiabank lowered its price target to C$55.00 from C$58.00.
Mullen Group Ltd. (MTL:CA) — RBC Capital raised its price target to C$32.00 from C$30.00.
Northland Power Inc. (NPI:CA) — TD Securities maintained its Buy rating with a C$25.00 price target.
Quarterhill Inc. (QTRH:CA) — CIBC lowered its price target to C$4.00 from C$4.50.
Rogers Communications Inc. (RCI.B:CA) — National Bank lowered its price target to C$59.00 from C$62.00.
Russel Metals Inc. (RUS:CA) — RBC Capital raised its price target to C$107.00 from C$92.00.
Stella-Jones Inc. (SJ:CA) — RBC Capital lowered its price target to C$76.00 from C$79.00.
StorageVault Canada Inc. (SVI:CA) — Scotiabank lowered its price target to C$5.75 from C$6.00.
Tamarack Valley Energy Ltd. (TVE:CA) — Scotiabank initiated coverage with an Outperform rating and a C$17.00 price target.
TC Energy Corporation (TRP:CA) — CIBC maintained its Outperform rating with a C$103.00 price target.
TELUS Corporation (T:CA) — National Bank lowered its price target to C$13.00 from C$15.00.
TransAlta Corporation (TA:CA) — Scotiabank lowered its price target to C$25.00 from C$27.00.
Westshore Terminals (WTE:CA) — RBC Capital raised its price target to C$47.00 from C$44.00.
WSP-Global Inc. (WSP:CA) — Scotiabank lowered its price target to C$274.00 from C$279.00 and assigned an Outperform rating.
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