Canadian Analyst Updates: Nov 4th, 2025
Analyst Ratings (Canada)
The following are today’s 57 latest analyst ratings tracked from muliple analysts for Canadian listed and traded stocks:
AGF Management Ltd (AGF-B:CA): TD Securities raised its target price to C$18 from C$17, reflecting continued confidence in the firm’s strong asset management performance.
Akita Drilling Ltd. (AKT-A:CA): ATB Capital downgraded the stock to Sector Perform from Outperform and cut its target to C$2.50 from C$3.00, reflecting softer drilling demand.
Andlauer Healthcare Group Inc. (AND:CA): TD Securities maintained a Sell rating with a target price of C$55, reflecting cautious sentiment on valuation.
AutoCanada Inc. (ACQ:CA): Canaccord Genuity raised its price target to C$36 from C$34, reflecting improving dealership fundamentals and cost efficiency.
Boyd Group Services Inc. (BYD:CA): Stifel Nicolaus lifted its target to C$275 from C$265, highlighting continued strength in repair volumes and margin recovery.
Cameco Corp. (CCO:CA): BMO Capital Markets raised its target to C$160 from C$130, reflecting robust uranium pricing and strong long-term fundamentals.
Canadian Natural Resources Ltd. (CNQ:CA): Scotiabank maintained a Sector Perform rating with a C$58 price target, reflecting stable production outlooks.
CGI Inc. (GIB-A:CA): Desjardins Securities reduced its target to C$160 from C$169 but kept a Buy rating, expecting long-term IT service growth.
Colliers International Group Inc. (CIGI:CA): CIBC maintained an Outperform rating with a C$252 target, showing steady performance in property management and advisory services.
Corus Entertainment Inc. (CJR.B:CA): TD Securities cut its target to C$0.01 from C$0.05 and maintained a Sell rating, expecting continued weakness in advertising revenues.
CT REIT (CRT.UN:CA): TD Securities maintained a Hold rating with a C$16 target, while Scotiabank downgraded it to Sector Perform with a revised C$17 target, reflecting limited near-term growth catalysts.
Dollarama Inc. (DOL:CA): Bernstein raised its target price to C$223 from C$220, pointing to resilient consumer demand and margin expansion.
Fortis Inc. (FTS:CA): TD Securities reiterated its Buy rating with a C$77 target, while CIBC maintained an Outperform rating with a C$74 target, both reflecting stable regulated earnings and dividend reliability.
Franco-Nevada Corp. (FNV:CA): TD Securities maintained a Hold rating with a C$247 target, while Scotiabank reiterated Sector Perform at C$317, reflecting mixed outlooks on gold royalty trends.
Gibson Energy Inc. (GEI:CA): TD Securities lowered its target to C$23 from C$24 and maintained a Hold rating, while Scotiabank kept Sector Perform at C$25, expecting modest cash flow growth.
Goeasy Ltd. (GSY:CA): Jefferies reduced its target price to C$225 from C$230, reflecting caution on credit normalization despite strong loan growth.
Goliath Resources Ltd. (GOT:CA): Stifel Nicolaus assigned a Buy rating with a target of C$5.00, reflecting exploration upside potential.
Happy Belly Food Group (HBFG:CA): Ventum Financial issued a Buy rating with a C$2.25 target, highlighting expansion in retail distribution.
IGM Financial Inc. (IGM:CA): TD Securities raised its target to C$64 from C$57, reflecting improving asset inflows and fee-based revenue stability.
Imperial Oil Ltd. (IMO:CA): TD Securities raised its target to C$107 from C$104 while maintaining a Sell rating, relecting limited upside amid steady cash generation.
Kelt Exploration Ltd. (KEL:CA): TD Securities maintained a Buy rating with a C$9 target, and CIBC maintained an Outperform rating with a higher C$10.50 target, reflecting confidence in growth potential and cost control.
Loblaw Companies Ltd. (L:CA): TD Securities reiterated its Buy rating with a C$63 target, reflecting strong grocery performance and margin management.
Lumine Group Inc. (LMN:CA): TD Securities cut its target to C$48 from C$59 while maintaining a Buy rating; RBC Capital also reduced its target to C$50 from C$62, citing slower organic growth but long-term stability.
Lundin Gold Inc. (LUG:CA): TD Securities maintained a Hold rating with a C$95 target, reflecting steady operational execution at Fruta del Norte.
MetalQuest Mining Inc. (MQM:CA): Fundamental Research assigned a Buy rating with a C$0.92 target, reflecting exploration progress and resource expansion.
National Bank of Canada (NA:CA): Scotiabank maintained an Outperform rating with a C$159 target, reflecting capital strength and steady earnings.
New Age Metals Inc. (NAM:CA): Fundamental Research assigned a Buy rating with a C$0.95 target, highlighting potential upside from its palladium projects.
Nouveau Monde Graphite Inc. (NOU:CA): National Bank upgraded the stock to Outperform from Sector Perform and raised its target to C$5 from C$3.50, reflecting strengthening graphite demand for EV batteries.
Nutrien Ltd. (NTR:CA): TD Securities maintained a Buy rating with a C$72 target, expecting improving fertilizer markets.
Paramount Resources Ltd. (POU:CA): CIBC maintained an Outperform rating with a C$26 target, reflecting confidence in operational execution and disciplined capital allocation.
Parkland Corp. (PKI:CA): TD Securities maintained a Sell rating with a C$44 target, reflecting soft retail margins.
Pet Valu Holdings Ltd. (PET:CA): TD Securities maintained a Buy rating with a C$44 target, while CIBC maintained an Outperform rating with a C$42 target, highlighting stable same-store sales growth and continued network expansion.
Premium Brands Holdings Corp. (PBH:CA): RBC Capital raised its target to C$118 from C$108, reflecting strong performance in specialty foods and acquisitions.
Shopify Inc. (SHOP:CA): TD Securities maintained a Hold rating with a C$219 target, reflecting on steady e-commerce growth amid higher expenses.
Sprott Inc. (SII:CA): TD Securities lifted its target to C$125 from C$100, reflecting higher asset management inflows.
Teck Resources Ltd. (TECK.B:CA): CIBC maintained a Neutral rating with a C$57 target, citing uncertainty around near-term commodity prices despite strong project fundamentals.
Thomson Reuters Corp. (TRI:CA): TD Securities maintained a Buy rating with a C$285 target, while CIBC maintained an Outperform rating with a C$279 target, highlighting resilient subscription revenues and cost discipline.
Topaz Energy Corp. (TPZ:CA): Raymond James raised its target to C$32 from C$31, while TD Securities maintained a Buy rating with a C$29 target, showing stable royalty growth.
TVA Group Inc. (TVA.B:CA): National Bank downgraded the stock to Sector Perform from Outperform but raised its target to C$0.75 from C$0.25, reflecting limited recovery prospects.
Ucore Rare Metals Inc. (UCU:CA): Raymond James lifted its target to C$15.50 from C$14.50, highlighting advancements in rare earth processing technology.
Wajax Corp. (WJX:CA): TD Securities maintained a Hold rating with a C$25 target, reflecting steady industrial demand and disciplined cost control.
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