Canadian Analyst Updates: February 13th, 2026

Analyst Ratings (Canada)

The following are today’s 132 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:

Advantage Energy Ltd. (AAV:CA)

ATB Cormark cut its target to $14 from $15 and reiterated Outperform.
TD Securities maintained a Buy rating with a $14 target.
Scotiabank maintained Sector Outperform with a $20 target.
National Bank raised its target to $15 from $14 and reiterated Outperform.

Agnico Eagle Mines (AEM:CA)

Scotiabank maintained Sector Outperform with a $376 target.
TD Securities maintained Buy with a $328 target.

Air Canada (AC:CA)

Scotiabank maintained Sector Outperform with a $26.50 target.

Allied Properties REIT (AP.UN:CA)

Desjardins lowered its target to $9.50 from $12.50 and maintained Hold.

Bank of Montreal (BMO:CA)

CIBC raised its target to $209 from $199 and reiterated Outperform.

Bank of Nova Scotia (BNS:CA)

CIBC raised its target to $108 from $103 and maintained Neutral.

Bombardier (BBD.B:CA)

CIBC lowered its target to $288 from $290.
TD Securities raised its target to $280 from $276 and maintained Hold.
Scotiabank maintained Sector Perform with a C$295 target.
Desjardins raised its target to $305 from $260 and reiterated Buy.
National Bank lowered its target to $286 from $290 and maintained Outperform.

Brookfield Corp. (BN:CA)

RBC raised its target to $69 from $66 and reiterated Outperform.
BMO raised its target to $69 from $66 and reiterated Outperform.
Scotiabank raised its target to $71 from $66 and reiterated Outperform.

CAE Inc. (CAE:CA)

TD Securities maintained Buy with a $53 target.
Scotiabank maintained Sector Outperform with a C$57 target.

Calian Group (CGY:CA)

CIBC raised its target to $76 from $65.
Canaccord raised its target to $80 from $63.
RBC raised its target to $60 from $58 and reiterated Outperform.
Acumen Capital raised its target to $85 from $70 and reiterated Buy.
Ventum raised its target to $82 from $72 and reiterated Buy.

Cameco (CCO:CA)

TD Securities maintained Buy with a $185 target.

CAP REIT (CAR.UN:CA)

TD Securities maintained Buy with a $47 target.
Scotiabank maintained Sector Perform with a C$45 target.

Definity Financial (DFY:CA)

Barclays raised its target to $81 from $80 and maintained Equal-Weight.
TD Securities maintained Buy with an $85 target.
Raymond James lowered its target to $72 from $74 and maintained Market Perform.
Scotiabank maintained Sector Perform with a C$80 target.

Enbridge (ENB:CA)

TD Securities maintained Buy with a $70 target.
CIBC maintained Neutral with a $69 target.

Fortis Inc. (FTS:CA)

Scotiabank raised its target to C$80 from C$79 and maintained Sector Perform.
BMO raised its target to $77 from $74 and maintained Market Perform.
RBC raised its target to $80 from $79 and maintained Sector Perform.
Raymond James raised its target to $78.50 from $75.50 and reiterated Outperform.
Desjardins raised its target to $81 from $79 and reiterated Buy.

Great-West Lifeco (GWO:CA)

Scotiabank raised its target to C$71 from C$70 and maintained Sector Outperform.
RBC raised its target to $64 from $60 and maintained Sector Perform.
BMO lowered its target to $66 from $68 and maintained Market Perform.
Jefferies raised its target to $70 from $67 and reiterated Buy.

IGM Financial (IGM:CA)

TD maintained Buy with a $73 target.
Scotiabank maintained Sector Perform with a C$69 target.

Interfor (IFP:CA)

TD maintained Hold with an $11 target.
Scotiabank maintained Sector Outperform with a $14 target.

Keyera (KEY:CA)

Scotiabank maintained Sector Outperform with a C$55 target.
TD raised its target to $56 from $52 and reiterated Buy.
Barclays raised its target to $48 from $43.

Killam Apartment REIT (KMP.UN:CA)

RBC lowered its target to $21 from $22 and reiterated Outperform.
ATB lowered its target to $20 from $21 and reiterated Outperform.
Raymond James lowered its target to $20 from $20.25 and reiterated Outperform.
TD lowered its target to $20 from $21 and maintained Buy.

Lundin Gold (LUG:CA)

TD maintained Hold with a $114 target.
Scotiabank maintained Sector Perform with a $90 target.

Magna International (MG:CA)

TD maintained Buy with a $79 target.
CIBC maintained Neutral with a $76 target.

Manulife Financial (MFC:CA)

Scotiabank raised its target to $56 from $55 and reiterated Outperform.
RBC raised its target to $55 from $52 and reiterated Outperform.
Scotiabank maintained Sector Outperform with a $56 target.

Precision Drilling (PD:CA)

CIBC raised its target to $140 from $120.
National Bank raised its target to $140 from $120 and maintained Sector Perform.
RBC raised its target to $124 from $119 and reiterated Outperform.
Raymond James raised its target to $143 from $131 and reiterated Outperform.

Restaurant Brands (QSR:CA)

Scotiabank lowered its target to $96 from $101, with a Sector Perform rating.
Barclays lowered its target to $111.50.
RBC lowered its target to $109.
BMO lowered its target to $110 and reiterated Outperform.

Royal Bank (RY:CA)

CIBC raised its target to $242 from $229 and maintained Neutral.

Russel Metals (RUS:CA)

Scotiabank raised its target to $54 from $52 and maintained Sector Outperform.
TD raised its target to $57 from $50 and reiterated Buy.
National Bank raised its target to $56 from $54 and maintained Sector Perform.
RBC raised its target to $55 from $51 and reiterated Outperform.
Stifel Nicolaus raised its target to $50.50 from $49 and maintained Hold.

Saputo (SAP:CA)

Scotiabank raised its target to $49 from $47 and maintained Sector Outperform.
TD raised its target to $52 from $51 and reiterated Buy.

Shopify (SHOP:CA)

Citigroup lowered its target to $234 from $265 and maintained Buy.

Sun Life Financial (SLF:CA)

Jefferies raised its target to $103 from $97.
Scotiabank raised its target to $96 from $93 and maintained Sector Perform.
BMO raised its target to $100 from $95 and reiterated Outperform.
RBC raised its target to $95 from $83 and maintained Sector Perform.
Desjardins raised its target to $101 from $96 and reiterated Buy.

TELUS (T:CA)

TD lowered its target to $21 from $25 and maintained Buy.
ATB lowered its target to $19 from $20 and maintained Sector Perform.
Scotiabank maintained Sector Outperform with a $22 target.

TerraVest (TVK:CA)

Scotiabank raised its target to $187 fromC$184.50 and maintained Sector Outperform.

Trisura Group (TSU:CA)

TD maintained Buy with a $58 target.
Scotiabank maintained Sector Outperform with a $52 target.
ATB raised its target to $52 from $46.75 and reiterated Outperform.

Waste Connections (WCN:CA)

Scotiabank lowered its target to $268 from $278 and maintained Sector Outperform.

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