Canadian Analyst Coverage Update: July 18th, 2025

Analyst Ratings (Canada)

A&W Food Services (AW:CA) was maintained with a Neutral rating by CIBC World Markets  with a target price of $36.00.

Ag Growth International (AFN:CA) had its target updated by CIBC World Markets to $55, while maintaining an Outperform rating.

Alimentation Couche-Tard Inc (ATD:CA) was reaffirmed with a Buy rating by Stifel Nicolaus with a revised target of $81.00.

AtkinsRealis (ATRL:CA) was maintained with a Outperform rating by CIBC World Markets with an updated price target of $110.00.

Badger Infrastructure Solutions (BDGI:CA) retained its Outperform rating from CIBC World Markets, with a target price of $57.00.

Bird Construction (BDT:CA) received a target update from CIBC World Markets, maintaining an Outperform rating and raising the price target to $35.00.

Blue Moon Metals Inc. (MOON:CA) was initiated with an Outperform rating by Scotiabank and a price target of $5.00.

Boralex Inc. (BLX:CA) was downgraded by Scotiabank to Sector Perform from Outperform with a $36.00 target.

Brookfield Renewable Partners (BEP-UN:CA) had its price target raised by Scotiabank to $41.00 while maintaining an Outperform rating.

Capital Power Corp (CPX:CA) had its price target increased to $67.00 by Scotiabank.

Cenovus Energy (CVE:CA) was updated by CIBC World Markets with an Outperform rating and a target price of $30.00.

Choice Properties REIT (CHP-UN:CA) was maintained as Buy by TD Securities with a $16.00 target.

Choice Properties REIT (CHP-UN:CA) was also maintained as Neutral by CIBC World Markets with a $15.50 target.

Denison Mines (DML:CA) received a target update from Raymond James with a Buy rating and a $3.80 target price.

FirstService (FSV:CA) was reaffirmed as Buy by Stifel Nicolaus with a revised price target of $220.00.

HIVE Digital Technologies (HIVE:CA) received a target update from H.C. Wainwright, maintaining a Buy rating and setting a $6.00 target.

Lundin Gold Inc. (LUG:CA) was downgraded to Hold by Desjardins Securities with a price target of $70.00.

Northland Power (NPI:CA) had its price target raised by Scotiabank to $28.00 while keeping an Outperform rating.

Pason Systems Inc (PSI:CA) was downgraded to Hold from a Buy rating by TD Securities with a price target of $13.00.

Premium Brands Holding Corp. (PBH:CA) had its target raised by TD Securities to $140 from $120, maintaining a Buy rating.

RB Global (RBA:CA) had its target updated to $121.00 by CIBC, maintaining an Outperform rating.

Restaurant Brands International (QSR:CA) was rated Sell by Bank of America with a price target of $60.00.

Shopify Inc. (SHOP:CA) had its price target raised by RBC Capital to $199 while keeping an Outperform rating.

Stantec (STN:CA) had its target price increased to $168.00 and retained its Outperform rating at CIBC World Markets.

Superior Plus Corp. (SPB:CA) was downgraded to Hold by TD Securities with a price target of $8.50.

Teck Resources Ltd (TECK-B:CA) was downgraded to Hold by Desjardins Securities with a $58.00 target.

Toromont Industries (TIH:CA) had its price target raised to $129.00 by  CIBC World Markets, while maintaining their Outperform rating.

Transalta Corp. (TA:CA) was upgraded by Scotiabank to Outperform from Sector Perform with a price target of $20.00.

Waste Connections (WCN:CA) had its rating reiterated as Sector Perform by Scotiabank with a target of $202.00.

WSP Global Inc. (WSP:CA) had its target raised by CIBC World Markets to $317.00 with an Outperform rating.