Canadian Analyst Coverage: November 13th, 2025
Analyst Ratings (Canada)
Aimia Inc (AIM:CA): TD Securities lowered its target price to C$3.75 from C$4.00 while maintaining a Buy rating, reflecting tempered near-term growth expectations.
Altius Minerals Corp (ALS:CA): Raymond James raised its target to C$40 from C$37, citing improved royalty revenue visibility and strong commodity exposure.
Baytex Energy Corp (BTE:CA): Scotiabank upgraded the stock to Outperform and lifted its target to C$5.25 from C$4.00 on better oil pricing and strong free cash flow.
Baytex Energy Corp (BTE:CA): BMO Capital Markets upgraded Baytex to Outperform, raising its target to C$6.00 from C$3.00 after improved balance sheet strength.
Baytex Energy Corp (BTE:CA): TD Securities also increased its target to C$4.75 from C$4.00, maintaining a Buy rating.
Birchcliff Energy Ltd (BIR:CA): TD Securities lifted its target to C$8.00 from C$7.50 with a Buy rating, expecting steady natural gas output.
Birchcliff Energy Ltd (BIR:CA): Scotiabank also raised its target to C$10.00 from C$9.00, keeping an Outperform rating.
Bird Construction Inc (BDT:CA): BMO Capital Markets lowered its target price to C$34 from C$37, reflecting modest margin pressure.
Boyd Group Services Inc (BYD:CA): ATB Capital increased its target to C$280 from C$275, noting continued strength in U.S. operations.
Boyd Group Services Inc (BYD:CA): TD Securities maintained a Buy rating with a target of C$290, highlighting steady same-store growth.
CAE Inc (CAE:CA): TD Securities lifted its target to C$46 from C$44 and reiterated a Buy rating on improving defense training demand.
CAE Inc (CAE:CA): Scotiabank also raised its target to C$49 from C$46.50, maintaining an Outperform rating.
Cameco Corp (CCO:CA): TD Securities raised its target to C$150 from C$142, citing robust uranium market fundamentals.
Cameco Corp (CCO:CA): RBC Capital slightly trimmed its target to C$150 from C$160 amid short-term valuation fluctuations.
CCL Industries Inc (CCL.B:CA): TD Securities increased its target to C$100 from C$95, maintaining a Buy rating reflecting packaging strength.
CCL Industries Inc (CCL.B:CA): Scotiabank also raised its target to C$94 from C$91, reiterating an Outperform rating.
Chemtrade Logistics Income Fund (CHE.UN:CA): RBC Capital lifted its target to C$18 from C$14 as pricing remains resilient.
Chemtrade Logistics Income Fund (CHE.UN:CA): Raymond James upgraded the stock to Strong Buy from Outperform and boosted its target to C$21 from C$16.
Chemtrade Logistics Income Fund (CHE.UN:CA): BMO Capital Markets raised its target to C$20 from C$15 reflecting cash flow momentum.
Dream Impact Trust (MPCT.UN:CA): TD Securities lowered its target to C$1.50 from C$1.75 and maintained a Hold rating reflecting to muted asset growth.
Dream Unlimited Corp (DRM:CA): TD Securities reiterated a Buy rating with a target of C$27, reflecting steady project execution.
DRI Healthcare Trust (DHT.U:CA): Scotiabank maintained an Outperform rating and set a US$25 target, reflecting strong royalty growth.
Element Fleet Management Corp (EFN:CA): TD Securities maintained a Buy rating with a C$42 target, reflecting consistent earnings growth.
Element Fleet Management Corp (EFN:CA): Raymond James raised its target to C$41 from C$40, highlighting steady fleet expansion.
Extendicare Inc (EXE:CA): TD Securities increased its target to C$19 from C$15, maintaining a Hold rating.
Extendicare Inc (EXE:CA): CIBC World Markets raised its target to C$22 from C$18, pointing to improving occupancy trends.
Finning International Inc (FTT:CA): TD Securities lifted its target to C$88 from C$81 and reiterated a Buy rating reflecting strong equipment sales.
Finning International Inc (FTT:CA): Scotiabank raised its target to C$85 from C$71, maintaining an Outperform rating.
George Weston Ltd (WN:CA): TD Securities increased its target to C$108 from C$105, keeping a Buy rating reflecting resilient grocery margins.
Hudbay Minerals Inc (HBM:CA): Scotiabank reduced its target to C$26 from C$26.50, citing copper price volatility.
Linamar Corp (LNR:CA): TD Securities raised its target to C$96 from C$85 with a Buy rating, citing strong auto part demand.
Linamar Corp (LNR:CA): Scotiabank maintained a Sector Perform rating with an unchanged C$83 target.
Loblaw Companies Ltd (L:CA): TD Securities increased its target to C$65 from C$63, maintaining a Buy rating.
Loblaw Companies Ltd (L:CA): Scotiabank reiterated an Outperform rating with a C$65 target, reflecting stable retail performance.
Logan Energy Corp (LGN:CA): TD Securities maintained a Buy rating with a target of C$1.25.
Logan Energy Corp (LGN:CA): Scotiabank maintained an Outperform rating with a target of C$1.65, noting solid production growth.
Manulife Financial Corp (MFC:CA): TD Securities raised its target to C$57 from C$54, reiterating a Buy rating based reflecting strong capital returns.
Manulife Financial Corp (MFC:CA): Scotiabank maintained an Outperform rating with a C$45 target.
North American Construction Group Ltd (NOA:CA): TD Securities maintained a Hold rating with a C$21 target, reflecting limited upside near term.
NorthWest Healthcare Properties REIT (NWH.UN:CA): Scotiabank raised its target to C$7.00 from C$6.50, maintaining a Sector Perform rating.
Power Corporation of Canada (POW:CA): Scotiabank raised its target to C$76 from C$69 and maintained an Outperform rating.
PROREIT (PRV.UN:CA): TD Securities maintained a Hold rating with a C$6.00 target.
PROREIT (PRV.UN:CA): Scotiabank raised its target to C$7.00 from C$6.50, maintaining a Sector Perform rating.
SmartCentres REIT (SRU.UN:CA): Scotiabank reiterated a Sector Perform rating with a C$27.50 target, reflecting stable retail property fundamentals.
Stingray Group Inc (RAY.A:CA): CIBC World Markets lifted its target to C$16 from C$13.50 reflecting continued revenue recovery.
Stingray Group Inc (RAY.A:CA): BMO Capital Markets raised its target to C$19 from C$13, reflecting solid subscription growth.
Vizsla Silver Corp (VZLA:CA): CIBC World Markets raised its target to C$11 from C$9.75 reflecting improved silver resource estimates.
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