Canadian Analyst Updates: April 22, 2026
Analyst Ratings (Canada)
Today’s analyst updates skew strongly positive, driven by a broad wave of target increases, especially across gold and mining names. Financials and diversified industrials saw more modest upward revisions, while consumer and telecom names were largely steady with maintained ratings. A handful of target cuts suggest some selective caution outside resources, but these were relatively minor. Initiations were generally constructive, with most new coverage landing at Buy ratings, indicating optimism toward smaller or underfollowed names. Overall, the tone of the day is clearly positive, with analysts leaning bullish, particularly in resource sectors, and limited signs of broad-based downgrades.
46 Analyst Updates
Agnico Eagle Mines (AEM:CA) – BMO raised target to $370 (from $350)
Altius Minerals (ALS:CA) – Raymond James raised target to $52 (from $48), Outperform
Badger Infrastructure (BDGI:CA) – TD lowered target to $79 (from $80), Buy
Barrick Mining (ABX:CA) – BMO raised target to $65 (from $55)
CAE (CAE:CA) – TD lowered target to $49 (from $53), Buy
Canadian Packers (CPKR:CA) – Ventum initiated with Buy, $24 target
Cargojet (CJT:CA) – National Bank lowered target to $104 (from $108), Outperform
Centerra Gold (CG:CA) – Scotiabank raised target to $29 (from $26)
Collective Mining (CNL:CA) – Scotiabank raised target to $35 (from $29)
Endeavour Mining (EDV:CA) – Scotiabank raised target to $100 (from $90)
ERO Copper (ERO:CA) – BMO raised target to $48 (from $42)
Exchange Income (EIF:CA) – Desjardins raised target to $116 (from $114), Buy
Extendicare (EXE:CA) – Desjardins initiated with Buy, $34.50 target
First Quantum (FM:CA) – BMO raised target to $48 (from $40)
Franco-Nevada (FNV:CA) – BMO raised target to $410 (from $370)
Global Education Communities (GEC:CA) – Fundamental Research assigned Buy, $0.95 target
Hemlo Mining (HMMC:CA) – Scotiabank raised target to $9 (from $8)
High Liner Foods (HLF:CA) – Ventum initiated with Neutral, $15.50 target
Hudbay Minerals (HBM:CA) – BMO raised target to $39 (from $33)
IAMGOLD (IMG:CA) – BMO raised target to $32 (from $27)
Kinross Gold (K:CA) – BMO raised target to $55 (from $45)
Lundin Mining (LUN:CA) – BMO raised target to $45 (from $36)
Maple Leaf Foods (MFI:CA) – Ventum initiated with Buy, $37 target
MDA Space (MDA:CA) – Canaccord initiated with Buy, $56 target
MEG Energy (MEG:CA) – TD maintained Sell, $28 target
Methanex (MX:CA) – Scotiabank raised target to $95 (from $82)
Metro (MRU:CA) – CIBC maintained Neutral, $101 target
Montage Gold (MAU:CA) – Scotiabank raised target to $18.50 (from $15)
Nine Mile Metals (NINE:CNX) – Fundamental Research initiated with Buy, $0.32 target
Orla Mining (OLA:CA) – Scotiabank raised target to $27 (from $26.50)
Pan American Silver (PAAS:CA) – BMO raised target to $85 (from $69)
Pan American Silver (PAAS:CA) – Scotiabank raised target to $89 (from $87)
PrairieSky Royalty (PSK:CA) – TD maintained Buy, $36 target
Premium Brands (PBH:CA) – Ventum initiated with Buy, $124 target
Questor Technology (QST:CA) – ATB lowered target to $0.45 (from $0.60), Sector Perform
Questor Technology (QST:CA) – Acumen lowered target to $0.55 (from $0.75), Hold
Rogers Communications (RCI-B:CA) – CIBC maintained Outperform, $61 target
Saputo (SAP:CA) – Ventum initiated with Buy, $47 target
Savaria (SIS:CA) – National Bank raised target to $37 (from $30.50), Outperform
Skeena Resources (SKE:CA) – Scotiabank raised target to $48 (from $44)
SSR Mining (SSRM:CA) – Scotiabank raised target to $55 (from $50)
Stella-Jones (SJ:CA) – CIBC lowered target to $96 (from $102)
Superior Plus (SPB:CA) – Scotiabank raised target to $7 (from $6.50)
Superior Plus (SPB:CA) – TD raised target to $7.50 (from $7), Hold
West Fraser Timber (WFG:CA) – CIBC lowered target to $102 (from $108)
Wheaton Precious Metals (WPM:CA) – BMO raised target to $250 (from $240)
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