Canadian Analyst Updates: Nov 21, 2025
Analyst Ratings (Canada)
The following are today’s 29 latest analyst ratings tracked from multiple analysts for Canadian listed and traded stocks for Friday November 21st, 2025:
AltaGas Ltd. (ALA:CA)
TD Securities maintained its Buy rating on AltaGas Ltd. with a $48.00 target price, indicating continued confidence in the company’s outlook.
Altus Group Ltd. (AIF:CA)
Cormark Securities raised its target price on Altus Group Ltd. from $61.00 to $65.00 while reiterating a Buy rating, reflecting growing confidence in the company’s performance prospects.
BMO Capital Markets increased its target price on Altus Group Ltd. from $56.00 to $57.00, signaling a slightly more positive view of expected results.
TD Securities maintained its Buy rating on Altus Group Ltd. with a target price of $67.00, signalling ongoing conviction in the stock’s upside potential.
CIBC World Markets raised its target price on Altus Group Ltd. from $54.00 to $62.00 while assigning a Neutral rating, suggesting improved valuation expectations but a balanced risk-reward profile.
Aris Mining Corp (ARIS:CA)
BMO Capital Markets raised its target price on Aris Mining Corp from $19.00 to $21.50, indicating strengthened expectations for the company’s outlook.
BRP Inc. (DOO:CA)
TD Securities reiterated its Buy rating on BRP Inc. with a $106.00 target price, reflecting sustained optimism about the company’s growth prospects.
Capstone Copper Corp. (CS:CA)
TD Securities maintained its Buy rating on Capstone Copper Corp. with a target price of $14.00, signalling steady positive sentiment toward the company.
Groupe Dynamite Inc. (GRGD:CA)
Raymond James increased its target price on Groupe Dynamite Inc. from $55.00 to $72.00, indicating a significantly improved outlook for the company.
Lundin Gold Inc. (LUG:CA)
TD Securities reiterated a Hold rating on Lundin Gold Inc. with a $95.00 target price, indicating a balanced view of expected future performance.
Mattr Corp (MATR:CA)
Stifel Nicolaus raised its target price on Mattr Corp from $7.00 to $8.00, reflecting increased confidence in the company’s operational momentum.
Montage Gold Corp. (MAU:CA)
Scotiabank maintained its Outperform rating on Montage Gold Corp. with a $8.50 target price, signalling expectations of above-average performance.
Nexus Industrial REIT (NXR-UN:CA)
Scotiabank reiterated its Sector Perform rating on Nexus Industrial REIT with a $8.00 target price, indicating expectations of in-line sector performance.
Northland Power Inc. (NPI:CA)
TD Securities reduced its target price from $22.00 to $19.00 and maintained a Hold rating, reflecting tempered expectations for Northland Power’s performance.
National Bank cut its target price from $27.00 to $25.00, indicating reduced expectations for upside potential.
CIBC World Markets decreased its target from $24.00 to $22.00, reflecting a softer intermediate-term outlook.
BMO Capital Markets reduced its target price from $25.00 to $23.00, pointing to more conservative performance assumptions.
ATB Capital lowered its target from $26.00 to $23.00, signalling diminished expectations for growth.
TD Securities separately downgraded Northland Power Inc. to Hold while reducing its target from $22.00 to $19.00, indicating a more cautious stance.
Scotiabank also reiterated a Sector Perform rating with a $23.00 target, suggesting expectations of in-line performance relative to peers.
Osisko Metals Incorporated (OM:CA)
Scotiabank maintained its Outperform rating on Osisko Metals with a $1.15 target price, indicating confidence in the company’s relative upside.
Real Matters Inc. (REAL:CA)
TD Securities maintained its Buy rating on Real Matters with a $9.00 target price, reflecting continued conviction in the company’s outlook.
Roots Corp. (ROOT:CA)
TD Securities reiterated its Buy rating on Roots Corp. with a $4.00 target price, signalling steady confidence in future performance.
Surge Energy Inc. (SGY:CA)
ATB Capital raised its target price on Surge Energy Inc. from $8.25 to $9.75, suggesting a stronger outlook for commodity prices or company execution.
Tamarack Valley Energy Ltd. (TVE:CA)
BMO Capital Markets increased its target price on Tamarack Valley Energy from $9.00 to $11.00, signalling greater optimism around the company’s financial performance.
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