{"id":73605,"date":"2026-05-20T20:05:40","date_gmt":"2026-05-20T20:05:40","guid":{"rendered":"https:\/\/www.stocktargetadvisor.com\/blog\/?p=73605"},"modified":"2026-05-20T20:06:20","modified_gmt":"2026-05-20T20:06:20","slug":"canadian-analyst-updates-may-20th-2026","status":"publish","type":"post","link":"https:\/\/www.stocktargetadvisor.com\/blog\/canadian-analyst-updates-may-20th-2026\/","title":{"rendered":"Canadian Analyst Updates: May 20th, 2026"},"content":{"rendered":"

Analyst Ratings (Canada)<\/strong><\/a><\/h2>\n

Today\u2019s analyst updates point reveal widespread target increases and selective upgrades across key sectors. The financial sector saw higher targets, reinforcing expectations of stable earnings and resilient credit conditions. The energy sector also saw broad target increases, reflecting stronger commodity assumptions and free cash flow outlooks, while gold-related strength added defensive support. There were a few isolated downgrades and valuation cuts in select industrial and data\/service names, however the overall pattern is clearly skewed toward upward revisions, signaling improving earnings expectations and a mildly risk-on sentiment across Canadian stocks.<\/p>\n

47 Analyst Updates<\/strong><\/h3>\n
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Agnico Eagle Mines Limited (AEM:CA)<\/strong> Scotiabank maintained an Outperform rating with a $385 target.<\/p>\n

Athabasca Oil Corporation (ATH:CA)<\/strong> Scotiabank increased its target to $11.<\/p>\n

AtkinsR\u00e9alis Group Inc. (ATRL:CA)<\/strong> Stifel Nicolaus lowered its target to $99 from $101 while maintaining a Buy rating.<\/p>\n

Bank of Montreal (BMO:CA)<\/strong> Jefferies raised its target to $196 from $195, while Canaccord Genuity raised its target to $230 from $224, with a Buy.<\/p>\n

Bank of Nova Scotia (BNS:CA)<\/strong> Jefferies raised its target to $105 from $104, while Canaccord Genuity lowered its target to $108 from $110, with a Hold rating.<\/p>\n

Calian Group Inc. (CGY:CA)<\/strong> Stifel Nicolaus initiated coverage with a Buy rating and a $100 target.<\/p>\n

Canadian Imperial Bank of Commerce (CM:CA)<\/strong> Jefferies raised its target to $143 from $136, while Canaccord Genuity raised its target to $153 from $145, keeping the Hold rating.<\/p>\n

Canadian National Railway Co. (CNR:CA)<\/strong> CIBC maintained an Outperform rating with a $164 target.<\/p>\n

Canadian Natural Resources Limited (CNQ:CA)<\/strong> Scotiabank increased its target to $74.<\/p>\n

Canadian Tire Corp. Ltd. (CTC.A:CA)<\/strong> RBC Capital initiated coverage with an Outperform rating and a $216 target.<\/p>\n

Cenovus Energy Inc. (CVE:CA)<\/strong> Scotiabank increased its target to $47.<\/p>\n

Diversified Royalty Corp. (DIV:CA)<\/strong> Raymond James raised its target to $4.70 from $4.25 with an Outperform, while Canaccord Genuity raised its target to $5.50 from $4.75, with a Buy.<\/p>\n

Dye & Durham Ltd. (DND:CA)<\/strong> Raymond James lowered its Market Perform target to $4 from $5, while TD Securities maintained a Neutral rating with a $4 target.<\/p>\n

EQB Inc. (EQB:CA)<\/strong> Jefferies raised its target to $112 from $110.<\/p>\n

Franco-Nevada Corp. (FNV:CA)<\/strong> TD Securities upgraded the stock to Buy with a $400 target.<\/p>\n

Great-West Lifeco Inc. (GWO:CA)<\/strong> CIBC maintained coverage with an $81 target.<\/p>\n

iA Financial Corporation Inc. (IAG:CA)<\/strong> CIBC maintained coverage with a $180 target.<\/p>\n

Information Services Corp. (ISC:CA)<\/strong> Raymond James lowered its\u00a0 target to $51 from $53 with a Market Perform, while ATB Cormark lowered its target to $51 from $55.<\/p>\n

International Petroleum Corporation (IPCO:CA)<\/strong> Scotiabank increased its target to $38.<\/p>\n

Keyera Corp. (KEY:CA)<\/strong> CIBC maintained an Outperform rating with a $58 target.<\/p>\n

Lumina Metals Corp. (LMCU:CA)<\/strong> CIBC maintained an Outperform rating with an $18 target.<\/p>\n

Manulife Financial Corporation (MFC:CA)<\/strong> CIBC maintained coverage with a $61 target.<\/p>\n

National Bank of Canada (NA:CA)<\/strong> Jefferies raised its target to $188 from $172, while Canaccord Genuity raised its target to $200 from $190, with a Hold rating.<\/p>\n

North West Company Inc. (NWC:CA)<\/strong> TD Securities maintained a Buy rating with a $63 target.<\/p>\n

Orla Mining Ltd. (OLA:CA)<\/strong> TD Securities upgraded the stock to Buy while lowering its target to $24 from $26.<\/p>\n

Ovintiv Inc. (OVV:CA)<\/strong> Citigroup raised its target to $96 from $85, with a Buy rating, while Scotiabank increased its target to $96.<\/p>\n

Pollard Banknote Ltd. (PBL:CA)<\/strong> ATB Cormark raised its target to $32 from $41, with a Outperform.<\/p>\n

PrairieSky Royalty Ltd. (PSK:CA)<\/strong> Scotiabank increased its target to $34.<\/p>\n

Royal Bank of Canada (RY:CA)<\/strong> Jefferies raised its target to $232 from $226, while Canaccord Genuity raised its target to $270 from $260, with a Buy rating.<\/p>\n

Strathcona Resources Ltd. (SCR:CA)<\/strong> Scotiabank increased its target to $54.<\/p>\n

Suncor Energy Inc. (SU:CA)<\/strong> Scotiabank increased its target to $95.<\/p>\n

Sun Life Financial Inc. (SLF:CA)<\/strong> CIBC maintained coverage with a $102 target.<\/p>\n

Toronto-Dominion Bank (TD:CA)<\/strong> Jefferies raised its target to $142 from $134, while Canaccord Genuity raised its target to $158 from $149, with a Buy rating.<\/p>\n

Vital Infrastructure Property Trust (VITL.UN:CA)<\/strong> RBC Capital raised its\u00a0 target to $6 with a Sector Perform rating.<\/p>\n

Wesdome Gold Mines Ltd (WDO:CA)<\/strong> CIBC maintained its Neutral rating and target of $31.00 on the stock.<\/p>\n

More Ratings:<\/em><\/strong><\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Analyst Ratings (Canada) Today\u2019s analyst updates point reveal widespread target increases and selective upgrades across key sectors. The financial sector saw higher targets, reinforcing expectations…<\/p>\n","protected":false},"author":3,"featured_media":69665,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"image","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-73605","post","type-post","status-publish","format-image","has-post-thumbnail","hentry","category-blog","post_format-post-format-image"],"acf":[],"yoast_head":"\nCanadian Analyst Updates: May 20th, 2026 | Stock Target Advisor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.stocktargetadvisor.com\/blog\/canadian-analyst-updates-may-20th-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian Analyst Updates: May 20th, 2026\" \/>\n<meta property=\"og:description\" content=\"Analyst Ratings (Canada) Today\u2019s analyst updates point reveal widespread target increases and selective upgrades across key sectors. 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