Analyst Ratings (Canada)
Aritzia Inc. (ATZ:CA) had its target price raised to C$84.00 by Desjardins Securities with a Buy rating.
Calian Group Ltd. (CGY:CA) was reiterated as Buy by Desjardins Securities, and raised the target to C$62.00.
Canadian National Railway Co. (CNR:CA) had its target lowered to C$168 by Citigroup with a Buy rating, while National Bank raised its target to C$170 and maintained an Outperform rating.
Canadian Pacific Kansas City Ltd. (CP:CA) had its target increased to C$129 by Citigroup with a Buy rating, and National Bank also raised its target to C$119.
Capstone Copper Corp. (CS:CA) had its target raised to C$9.75 by National Bank, maintaining an Outperform rating.
Dundee Precious Metals Inc. (DPM:CA) was reiterated as Outperform by Scotia Capital with a target of C$23.00.
Dye & Durham (DND:CA) had its target lowered to C$14.50 by Canaccord Genuity while maintaining a Buy rating.
Equinox Gold Corp. (EQX:CA) was maintained as Sector Perform by Scotia Capital with a target price of C$8.50.
Ero Copper Corp. (ERO:CA) was downgraded to Sector Perform by National Bank, which set a target of C$24.50.
First Majestic Silver Corp. (AG:CA) was reiterated as Sector Perform by Scotia Capital with a target of C$9.00.
First Quantum Minerals Ltd. (FM:CA) received a target raise to C$27.50 and was maintained as Outperform by National Bank.
H&R Reit (HR-UN:CA) was maintained as Buy by TD Securities/Cowen with a target of C$14.50.
Hudbay Minerals Inc. (HBM:CA) had its target raised to C$16.50 and was maintained as Outperform by National Bank.
Illumin Holdings Inc. (ILMN:CA) had its target price raised to C$3.50 by TD Securities/Cowen and was maintained as Buy.
Ivanhoe Mines Ltd. (IVN:CA) was maintained as Sector Perform by Scotia Capital with a target of C$12.50.
K92 Mining Inc. (KNT:CA) was reiterated as Outperform by Scotia Capital with a target price of C$14.25.
Loblaw Companies Ltd. (L:CA) had its target price raised to C$235.00 and was maintained as Outperform by National Bank.
Lundin Mining Corp. (LUN:CA) received a target hike to C$17.50 from National Bank while maintaining an Outperform rating.
Magna International Inc. (MG:CA) had its target raised to C$52 and was maintained as Sector Perform by RBC Capital.
Teck Resources Ltd. (TECK-B:CA) had its target increased to C$66.00 by National Bank with an Outperform rating.
TFI International Inc. (TFII:CA) was reiterated as Buy by Citigroup with a raised target of C$148.00.
Thesis Gold Inc. (TAU:CA) was reiterated as Outperform by Scotia Capital with a target of C$2.00.
Triple Flag Precious Metals Corp. (TFPM:CA) was maintained as Buy by TD Securities/Cowen with a target of C$39.00.
Well Health Technologies (WELL:CA) was maintained as Outperform by Scotia Capital with a target of C$7.00.
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Capstone Copper’s raised target and Ero Copper’s downgrade are a curious contrast—makes me wonder if this reflects broader views on copper supply/demand or just company-specific factors. Definitely worth digging deeper for investors focused on base metals.
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It’s interesting to see the diverging target price movements for CNR and CP, especially with Citigroup and National Bank offering different perspectives. The reiteration of Buy/Outperform ratings by Desjardins and Scotia Capital on some of these names gives a sense of continued confidence, but it’ll be worth watching how these stocks perform given the varying outlooks. Overall, it’s a solid snapshot of the Canadian market’s analyst sentiment this week.