Inside the Market’s roundup of some of today’s key analyst actions
TD Cowen analyst Derek Lessard cut his price target on Premium Brands Holding Corp. (PBH-T) to C$140 from C$160 and reiterated a “buy” rating.
The change came as the analyst updated his model after fourth-quarter results.
“After a 30%+ run into late February on expectations for a sales and earnings inflection, the stock has pulled back ~20% in March despite no fundamental change. Q4 was solid, led by Specialty Foods, and 2026 still implies ~25% revenue and ~30% EBITDA growth - an unusually long runway for a CPG company,” he said in a note to clients.
“We are lowering our revenue/EBITDA estimates ~4-6% in 2026E/2027E due to (1) the sale of Shaw Bakers and (2) more conservative assumptions. Our estimates are now at the lower end of management’s guidance range,” he added.
The average analyst price target is C$120.27, according to S&P Capital IQ.
Raymond James analyst Stephen Boland raised his price target on Information Services Corp. (ISC-T) to C$53 from C$39 and reiterated an “outperform” rating.
The move to a higher target came after Mr. Boland reviewed fourth quarter results.
“Overall, this was a solid quarter, with ISC benefiting from strength in the Saskatchewan real estate market. ISC reported revenue of $65.5 million versus consensus at $67.1 million and RJL at $65.2 million. Adjusted EBITDA came in at $27.1 million versus consensus at $23.9 million and RJL at $23.1 million, up 29% YoY. The EBITDA margin was ahead of expectations, driven by the Land Registry division (higher real estate prices and volumes) and continued strength in the higher-margin Recovery Solutions segment,” he said in a note to clients.
The average analyst price target is C$49.30.
Canaccord Genuity analyst Matthew Lee sees an attractive buying opportunity in Hammond Power Solutions Inc. (HPS-A-T). Maintaining a “buy” rating, he increased his price target to C$226 from C$223 following the company’s fourth quarter results.
“Like many of its electrical equipment peers, Hammond’s active bidding in the data center sphere is beginning to impact the firm’s financials. While revenue will not likely benefit until Q2 or Q3, backlog in the quarter ballooned by 74% q/q – even higher than the firm’s initial jump in October of 53%," said Mr. Lee.
“Management highlighted that bidding activity has remained robust, suggesting that the tailwind may persist over the medium-term. We estimate that the data center segment alone will contribute $125M in incremental revenue for F26, which complements the mid single digit revenue growth felt by the broader commercial/industrial space. As such, we have raised our estimates for both F26 and F27, now expecting 13% revenue growth in the coming year with margin expansion helping to push adjusted EBITDA growth north of 20% (organic). Given that HPS trades at 13.4x NTM EV/EBITDA against peers at 18.8x, we view the current price as an attractive buying opportunity,” he said.
Elsewhere, National Bank raised its price target to C$220 from C$215 while reiterating an “outperform” rating.
“Supported by a record backlog, firm data centre commitments and expanding capacity, HPS is well positioned for sustained growth as a key enabler of North America’s electrification and digital infrastructure buildout,” said National Bank analyst Baltej Sidhu.
The average analyst price target is C$235.25.
ATB Cormark Capital Markets analyst Tim Monachello raised his price target on Precision Drilling Corp. (PD-T) to C$160 from C$135 following the company’s investor day last week. Mr. Monachello said Precision Drilling showcased its technology suite and focused organic growth strategy, “which underpins an expanding value proposition for both customers and shareholders.”
“PD remains a top idea, given momentum in its US market position and visibility to significantly improved capital optionality over the next 18 months. While we make no changes to estimates, we increase our price target given improved confidence in PD’s competitive position and downside protection in a stronger commodity price environment,” Mr. Monachello said.
He reiterated an “outperform” rating.
Elsewhere, RBC analyst Keith Mackey also raised his price target on Precision Drilling after the investor day, to C$140 from $124, while reiterating an “outperform” rating. “Our takeaways were incremental versus groundbreaking, but we believe the day was timely. Now carrying more modest financial leverage, PD has incremental capital flexibility to compete for key customers and drive growth in addition to returning cash to shareholders,” Mr. Mackey said in a note to clients.
The average analyst price target is C$143.88.
Wells Fargo downgraded Thomson Reuters Corp. (TRI-Q, TRI-T) to “equal weight” from “over weight”, concerned that rising competition in legal research could weigh on sentiment for the stock. The price target is US$95.
RBC raised its price target on Calfrac Well Services Ltd. (CFW-T) to C$7 from C$5.50 and reiterated a “sector perform” rating. It followed fourth quarter results that featured EBITDA ahead of consensus thanks to strong margins.
CIBC Capital Markets analyst Scott Fletcher initiated coverage of Alaris Equity Partners (AD-UN-T) with an “outperformer” rating and C$25 price target.
“Alaris’ portfolio of stable preferred equity investments and its growing proportion of common equity investments offer a combination of predictable income and exposure to uncapped upside,” Mr. Fletcher said in a note to clients. “Adding a well-covered dividend yielding 7.4% to the 25% return to our price target makes Alaris an attractive investment proposition at current levels.”
Mr. Fletcher sees upside potential in Alaris as it exits some of its investments.
“Monetization events and exits are key catalysts for Alaris, crystallizing returns, providing a benchmark for management’s valuation marks, and creating capital recycling opportunities. In addition to those benefits, Alaris’ preferred investments are structured with a redemption premium, and common equity has the potential to be exited with a control premium, making exits a value-creation opportunity. We expect a pickup in exits in 2026, with management suggesting at least two common equity exits over the remainder of the year,” he said.
Meanwhile, he sees little risks that distributions will be cut.
“Earnings coverage ratios across the current portfolio are healthy, with successful investments far more than offsetting some of the weaker performers. While trends in the portfolio do need to be closely monitored, particularly at the largest investments of Sono Bello, The Ohana, and The Shipyard, we believe there is limited risk to our 2026 distribution forecast, and that Alaris will comfortably meet its payout ratio target of 60%-65%, while continuing to grow the portfolio and maintaining a pattern of dividend growth,” Mr. Fletcher said.
The average analyst price target is C$26.50.
National Bank analyst Andrew Dusome initiated coverage on Faraday Copper Corp. (FDY-T) with an “outperform” rating and C$5.50 price target.
Faraday is a Lundin Group minerals exploration and development company focused on advancing its 100% owned flagship Copper Creek Project in Arizona. After completing an updated Mineral Resource Estimate and Preliminary Economic Assessment on Copper Creek in 2023, the company has focused on further exploration work, specifically targeting growth in the Open Pit resources with a 40,000-metre Phase IV exploration program currently underway, Mr. Dusome noted.
On Feb. 20, 2026, Faraday announced it has entered a non-binding letter of intent to acquire 100% of the San Manuel property, adjacent to Copper Creek, from BHP in exchange for issuing shares to BHP equal to a 30% interest in Faraday on a fully diluted basis at closing.
“Our outperform rating is driven by the strong exploration upside we see at Copper Creek through the ongoing and completed drill programs, which we expect to significantly increase the resource base,” Mr. Dusome in a note to clients. “With the proposed San Manuel transaction, we see the potential to create a district-scale copper producer with accelerated timelines to first production and flexible production sequencing to prioritize fully domestic copper cathode production. Our target price is based on a 1.0x multiple to our fully financed Net Asset Value Per Share (NAVPS) plus corporate adjustments. Our premium multiple is further supported by the strength in FDY’s shareholder base, which will be anchored by the Lundin Family Trust and BHP upon closing of the letter of intent.”