Canadian Analyst Updates: Feb 2, 2026
Analyst Ratings (Canada)
The following are today’s 52 entries of the latest analyst ratings tracked for Canadian-listed and Canadian-traded stocks, with several brokerages adjusting their outlooks and target prices in response to company-specific developments, earnings expectations, commodity fluctuations, and broader sector trends.
5N Plus Inc. (VNP:CA): Desjardins Securities raised its price target to $30.00 from $24.50 while maintaining a Buy rating, reflecting improved earnings visibility and stronger end-market demand.
Alamos Gold Inc. (AGI:CA): Scotiabank maintained its Outperform rating with a $755.00 price target, reflecting continued operational strength and favorable gold price dynamics.
Badger Infrastructure Solutions Ltd. (BDGI:CA): Canaccord Genuity downgraded the stock to Hold from a Buy, with an $81.00 price target, pointing to valuation concerns after recent share price appreciation.
Brookfield Business Partners (BBU-UN:CA): RBC Capital raised its price target to $60.00 and maintained an Outperform rating, highlighting improving operating performance across portfolio companies.
Brookfield Business Partners (BBU-UN:CA): Scotiabank raised its price target to $55.00 from $53 while maintaining an Outperform rating, reflecting higher asset valuations and earnings momentum.
Brookfield Business Partners (BBU-UN:CA): Desjardins Securities increased its price target to $59.00 with a Buy rating, reflectingg strong cash flow generation and value realization initiatives.
Brookfield Business Partners (BBU-UN:CA): BMO Capital Markets raised its price target to $59.00 and maintained an Outperform rating, driven by improved outlook across industrial and services assets.
Brookfield Renewable Partners LP (BEP-UN:CA): Scotiabank maintained an Outperform rating with a $49.00 target, reflecting balance sheet strength.
Brookfield Renewable Partners L.P. (BEP-UN:CA): TD Securities maintained its Buy rating with a $48.00 target, supported by stable contracted cash flows.
Brookfield Renewable Partners LP (BEP-UN:CA): National Bank raised the target to $46.50 from $45.00, and maintaied the Outperform rating.
Brookfield Business Partners (BBU-UN:CA): Mizuho Securities raised its price target to $42.00 from $41, while maintaining a Neutral rating.
Canadian National Railway (CNR:CA): Scotiabank maintained its Outperform rating with a $155.00 target, reflecting steady rail volume trends.
Canadian National Railway Co. (CNR:CA): JPMorgan raised its price target, reflecting confidence in long-term rail fundamentals despite near-term macro headwinds.
Canadian National Railway Co. (CNR:CA): ATB Capital raised its price target while maintaining a Sector Perform rating, reflecting updated volume and pricing assumptions.
Canadian National Railway Co. (CNR:CA): Barclays raised its price target to $185.00 but maintained an Equal-Weight rating, balancing operational strength against valuation.
Canadian National Railway Co. (CNR:CA): Scotiabank lowered its price target to $156.00 from $163.00 while maintaining an Outperform rating due to softer near-term volume expectations.
Canadian National Railway Co. (CNR:CA): TD Securities reduced its price target to $164.00 from $166.00 while maintaining a Buy rating, reflecting revised macro assumptions.
Canadian National Railway Co. (CNR:CA): National Bank lowered its price target and maintained a Sector Perform rating amid mixed freight trends.
Canadian National Railway Co. (CNR:CA): Desjardins Securities lowered its target to $184.50, and maintained the Buy rating, reflecting tempered earnings expectations.
Canadian National Railway Co. (CNR:CA): Citigroup reduced its Buy-rated price target to $147.00 due to macro uncertainty.
Canadian National Railway Co. (CNR:CA): RBC Capital lowered its Outperform-rated target to $157.00, reflecting slower industrial demand.
Cascades Inc. (CAS:CA): National Bank raised its price target to $15.00 from $12.00 while maintaining a Sector Perform rating on improving containerboard pricing.
Celestica Inc. (CLS:CA): Canaccord Genuity raised its target to $588.00 from $547.00, and maintained the Buy rating, reflecting strong AI-related demand.
Docebo Inc. (DCBO:CA): Canaccord Genuity lowered its target to $55.00 from $63.00, and kept the Buy rating, reflecting slower near-term growth.
Eldorado Gold Corp. (ELD:CA): TD Securities maintained a Buy rating with a $64.00 target.
Exchange Income Corp. (EIF:CA): TD Securities maintained its Buy rating with a $102.00 target, citing stable cash flows.
First Quantum Minerals (FM:CA): Barclays maintained its price target at $44.00, reflecting updated copper pricing assumptions.
Gildan Activewear Inc. (GIL:CA): National Bank raised its price target to $134.00 from $126.00 while maintaining an Outperform rating on margin recovery.
Great-West Lifeco Inc. (GWO:CA): Jefferies raised its price target to $67.00 from $60.00, citing improving capital returns.
Imperial Oil Limited (IMO:CA): Scotiabank maintained a Sector Perform rating with a $110.00 target amid balanced oil price risks.
Imperial Oil Ltd. (IMO:CA): Raymond James raised its price target to $107.00 from $106.00 while maintaining an Underperform rating.
Kneat.com, inc. (KSI:CA): TD Securities initiated coverage with a Buy rating and a $6.00 price target, citing strong SaaS growth prospects.
KP Tissue Inc. (KPT:CA): National Bank raised its price target to $11.00 from $10.00 while maintaining a Sector Perform rating.
Luca Mining Corp. (LUCA:CA): Canaccord Genuity initiated coverage with a Speculative Buy rating and a $4.40 target,reflecting operational turnaround potential.
Manulife Financial Corp. (MFC:CA): Jefferies raised its price target to $58.00 from $54.00, reflecting improved earnings outlook.
Methanex Corp. (MX:CA): RBC Capital raised its target to $75.00 from $68.00 on stronger methanol pricing, with a Outperform rating.
Nutrien Ltd. (NTR:CA): Scotiabank maintained its Sector Perform-rated target to $96.00 from $85.00 on fertilizer price stabilization.
Open Text Corp. (OTEX:CA): TD Securities cut its target to $38.00 from $55.00, and maintained the Hold rating, following earnings reassessment.
Saputo Inc. (SAP:CA) RBC Capital raised its Outperform-rated target to $47.00 from $42.00 on margin improvement.
Saputo Inc. (SAP:CA): TD Securities maintained a Buy rating with a $49.00 target, reflecting steady operational recovery.
Stack Capital Group Inc. (STCK:CA): Raymond James raised its price target to $22.00 from $25.00 based on updated NAV estimates.
Teck Resources Ltd. (TECK.B:CA): Citigroup raised its target sharply to $104.00 from $76.00, reflecting stronger copper fundamentals, and also upgraded the stock to Buy rating from a Hold.
Thomson Reuters (TRI:CA): National Bank cut its target to $190.00 from $300, and maintained the Outperform rating, reflecting the stock’s current valuation.
TMX Group (X:CA): TD Securities maintained a Buy rating with a $60.00 target, reflecting stable trading and clearing revenues.
Wheaton Precious Metals Corp. (WPM:CA): Peel Hunt raised its price target to $240.00 from $165.00, driven by higher precious metals price assumptions.
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