Canadian Analyst Updates: May 28th, 2026

Analyst Ratings (Canada)
Canadian analyst coverage for today shows a positive outlook on the domestic market, particularly across the banking, industrial, aerospace, and energy sectors, as firms continued to raise target prices despite a more selective macro environment.
Canada’s major banks received widespread target increases from multiple brokerages, signaling confidence in earnings resilience, capital strength, and improving profitability trends.
Industrial and aerospace companies also attracted growing optimism, supported by expectations for continued momentum in defense, aviation, and infrastructure-related spending.
Energy sentiment remained supportive as analysts maintained positive ratings across several producers and service companies amid stable commodity expectations and ongoing infrastructure demand.
However, analysts showed more caution toward select technology and regional financial names, where target reductions reflected valuation sensitivity and moderating growth expectations.
The latest analyst revisions point to a moderately bullish outlook for Canadian stocks, led by financials, industrials, and energy sectors while growth-oriented sectors continue to face tighter scrutiny from investors and analysts.
42 Analyst Updates
Alimentation Couche-Tard Inc. (ATD:CA) had its price target raised to $91.00 from $89.00 by National Bank, which maintained an Outperform rating.
ATS Corporation (ATS:CA) was maintained with a Buy rating and a $48.00 target price by TD Securities.
Bank of Montreal (BMO:CA) had its target price raised to $203.00 from $199.00 by Barclays Capital, and maintained an Underweight rating.
Bank of Montreal (BMO:CA) had its target increased to $230.00 from $205.00 by RBC Capital while maintaining a Sector Perform rating.
Bank of Montreal (BMO:CA) received a target increase from Desjardins Securities to $230.00 from $212.00, while the firm maintained its Hold rating.
Bank of Montreal (BMO:CA) had its target price raised to $236.00 from $223.00 by National Bank, which reiterated a Sector Perform rating.
Bank of Montreal (BMO:CA) saw CIBC raise its target price to $244.00 from $226.00 while maintaining an Outperform rating.
Bank of Montreal (BMO:CA) had its target increased to $233.50 from $227.00 by Raymond James, which maintained an Outperform rating.
Bank of Montreal (BMO:CA) received a target increase from TD Securities to $239.00 from $234.00 while maintaining a Buy rating.
Bank of Nova Scotia (BNS:CA) had its price target raised to $117.00 from $98.00 by RBC Capital, which maintained a Sector Perform rating.
Bank of Nova Scotia (BNS:CA) saw Barclays Capital raise its target price to $110.00 from $108.00 while maintaining an Equalweight rating.
Bank of Nova Scotia (BNS:CA) had its target increased to $115.00 from $108.00 by Desjardins Securities, which reiterated a Hold rating.
Bank of Nova Scotia (BNS:CA) received a target increase from TD Securities to $113.00 from $112.00 while maintaining a Hold rating.
Bank of Nova Scotia (BNS:CA) had its target raised to $122.00 from $116.00 by CIBC, which maintained a Neutral rating.
Bank of Nova Scotia (BNS:CA) saw Raymond James raise its target price to $121.00 from $120.00 while reiterating an Outperform rating.
Bombardier Inc. (BBD.A:CA) had its target price increased to $330.00 from $305.00 by Scotiabank, which maintained a Outperform rating.
BRP Inc. (DOO:CA) CIBC maintained with an Outperform rating and a $90.00 target price.
BRP Inc. (DOO:CA) TD Securities maintained with a Hold rating and an $84.00 target price.
Canadian Imperial Bank of Commerce (CM:CA) was maintained with a Buy rating and a $166.00 target price by TD Securities.
Canadian Pacific Kansas City Ltd. (CP:CA) was maintained with an Outperform rating and a $128.00 target price by CIBC.
Capitan Silver Corp. (CAPT:CA) was initiated with a Speculative Buy rating and a $3.75 target price by Stifel Nicolaus.
Champion Iron Ltd. (CIA:CA) was maintained with a Buy rating and a $6.50 target price by TD Securities.
Coveo Solutions Inc. (CVO:CA) had its target price reduced to $6.50 from $9.50 by TD Securities, which maintained a Buy rating.
Coveo Solutions Inc. (CVO:CA) BMO lowered its target price to $6.00 from $10.00 while maintaining an Outperform rating.
Enerflex Ltd. (EFX:CA) had its target raised to $44.00 from $43.00 by RBC Capital, which maintained an Outperform rating.
Enerflex Ltd. (EFX:CA) received a target increase to $45.00 from $44.00 by TD Securities, which reiterated a Buy rating.
Enerflex Ltd. (EFX:CA) Raymond James raised its target price to $63.00 from $62.00 while maintaining an Outperform rating.
Enerflex Ltd. (EFX:CA) CIBC maintained with an Outperform rating and a $38.50 target price.
EQB Inc. (EQB:CA) had its target price lowered to $123.00 from $132.00 by TD Securities, which maintained a Buy rating.
Hammond Power Solutions Inc. (HPS.A:CA) was initiated with an Overweight rating and a $430.00 target price by JPMorgan.
King Copper Discovery Corp. (KCP:CA) was initiated with a Speculative Buy rating and a $1.75 target price by Stifel Nicolaus.
MDA Space Ltd. (MDA:CA) had its target price raised to $70.00 from $53.00 by Scotiabank, and maintained a Outperform rating.
National Bank of Canada (NA:CA) had its target price lowered to $203.00 from $206.50 by Raymond James, which maintained a Market Perform rating.
National Bank of Canada (NA:CA) CIBC raised its target price to $221.00 from $209.00 while maintaining a Neutral rating.
National Bank of Canada (NA:CA) had its target increased to $217.00 from $215.00 by Desjardins Securities, which reiterated a Buy rating.
Northisle Copper and Gold Inc. (NCX:CA) was initiated with a Buy rating and a $5.50 target price by Ventum Capital.
Rockpoint Gas Storage Inc. (RGSI:CA) was maintained with an Outperform rating and a $33.00 target price by CIBC.
Rockpoint Gas Storage Inc. (RGSI:CA) was maintained with a Buy rating and a $35.00 target price by TD Securities.
Royal Bank of Canada (RY:CA) CIBC maintained with a Neutral rating and a $258.00 target price.
Royal Bank of Canada (RY:CA) TD Securities maintained with a Buy rating and a $267.00 target price.
Saputo Inc. (SAP:CA) CIBC maintained with an Outperform rating and a $47.00 target price.
Tamarack Valley Energy Ltd. (TVE:CA) was maintained with an Outperform rating by CIBC, and raised its target price to $15.25 from $14.25.
Toronto-Dominion Bank (TD:CA) CIBC maintained with a Neutral rating and a $151.00 target price.
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