Canadian Analyst Updates: Jan 21st, 2026

Analyst Ratings (Canada)

The following are today’s 91 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:

Air Canada (AC:CA): Scotiabank raised its price target to $26.50 from $25.00 while maintaining an Outperform rating.

Air Canada (AC:CA): CIBC World Markets increased its price target to $24.00 from $23.00.

Alamos Gold Inc. (AGI:CA): TD Securities maintained a Buy rating with a $55.00 price target.

ARC Resources Ltd. (ARX:CA): Scotiabank lowered its price target to $28.00 from $30.00 and maintained a Sector Perform rating.

ATCO Ltd. (ACO.X:CA): CIBC raised its price target to $69.00 from $68.00 while maintaining an Outperformer rating.

Birchcliff Energy Ltd. (BIR:CA): TD Securities maintained a Buy rating with an $8.50 target.

Bombardier Inc. (BBD.B:CA): Scotiabank raised its price target to $295.00 from $230.00 while maintaining a Sector Perform rating.

Bombardier Inc. (BBD.B:CA): BMO Capital Markets increased its target to $300.00 and reiterated an Outperform rating.

Bombardier Inc. (BBD.B:CA): CIBC raised its target to $290.00 with a Neutral rating.

Boralex Inc. (BLX:CA): CIBC lowered its price target to $36.00 from $37.00.

Boralex Inc. (BLX:CA): Scotiabank reduced its target to $39.00 from $41.00 but maintained an Outperform rating.

Bravo Mining Corp. (BRVO:CA): National Bank raised its price target to $7.50 from $7.00 while maintaining an Outperform rating.

CAE Inc. (CAE:CA): Scotiabank raised its price target to $57.00 from $49.00 and maintained an Outperform rating.

CAE Inc. (CAE:CA): CIBC increased its target to $56.00 from $47.00.

Canadian National Railway Co. (CNR:CA): Scotiabank raised its price target to $163.00 from $160.00 while maintaining an Outperform rating.

Canadian Pacific Kansas City Ltd. (CP:CA): Scotiabank raised its price target to $124.00 from $119.00 and maintained an Outperform rating.

Canadian Utilities Ltd. (CU:CA): CIBC raised its price target to $45.00 from $44.00 while maintaining a Neutral rating.

Capital Power Corp. (CPX:CA): CIBC raised its price target to $82.00 from $81.00 while maintaining an Outperform.rating.

Cargojet Inc. (CJT:CA): Scotiabank raised its price target to $115.00 from $105.00 and maintained an Outperform rating.

CCL Industries Inc. (CCL.B:CA): TD Securities raised its price target to $105.00 from $100.00.

Celestica Inc. (CLS:CA): TD Securities maintained a Hold rating and a target of  $421.00 per share.

Celestica Inc. (CLS:CA): CIBC World Markets maintained an Outperform rating with a $552.00 target.

Centerra Gold Inc. (CG:CA): Raymond James raised its price target to $27.00 from $24.50 and maintained a Market Perform rating.

Centerra Gold Inc. (CG:CA): BMO Capital Markets increased its target to $32.00 and reiterated an Outperform rating.

Chorus Aviation Inc. (CHR:CA): Scotiabank lowered its price target to $26.00 from $27.00 while maintaining a Sector Perform rating.

Chorus Aviation Inc. (CHR:CA): CIBC raised its target on Chorus to $31.00.

Eldorado Gold Corp. (ELD:CA): TD Securities maintained a Hold rating with a $43.00 target.

Emera Inc. (EMA:CA): CIBC lowered its price target to $71.00 from $72.00 while maintaining a Neutral rating.

Exchange Income Corp. (EIF:CA): Scotiabank raised its price target to $105.00 from $90.00 and maintained an Outperform rating.

Exchange Income Corp. (EIF:CA): CIBC increased its target to $106.00 from $93.00.

G Mining Ventures Corp. (GMIN:CA): BMO Capital Markets raised its price target to $55.00 from $47.00.

GFL Environmental Inc. (GFL:CA): Scotiabank raised its price target to $78.75 from $58.00 and maintained an Outperform rating.

IGM Financial Inc. (IGM:CA): CIBC raised its price target to $68.00 from $61.00 while maintaining a Neutral rating.

Lithium Royalty Corp. (LIRC:CA): Citigroup raised its price target to $10.60 from $9.00 while maintaining a Neutral rating.

Logan Energy Corp. (LGN:CA): Scotiabank lowered its price target to $1.50 from $2.00 while maintaining an Outperform rating.

MDA Space Ltd. (MDA:CA): Scotiabank raised its price target to $42.00 from $38.00 and maintained an Outperform rating.

Mercer International Inc. (MX:CA): TD Securities raised its price target to $3.10 from $2.75 while maintaining a Sell rating.

Methanex Corp. (MX:CA): Scotiabank raised its price target to $60.00 from $48.00.

Metro Inc. (MRU:CA): TD Securities maintained a Buy rating with a $118.00 price target.

Mullen Group Ltd. (MTL:CA): Scotiabank raised its price target to $18.50 from $16.00 and maintained a Sector Perform rating.

North American Construction Group (NOA:CA): CIBC World Markets maintained a Neutral rating with a $20.00 target.

Northland Power Inc. (NPI:CA): CIBC lowered its price target to $22.00 from $23.00 while maintaining an Outperformer rating.

NuVista Energy Ltd. (NVA:CA): Scotiabank raised its price target to $18.50 from $18.00 and maintained a Sector Perform rating.

Omai Gold Mines Corp. (OMG:CA): National Bank raised its price target to $3.00 and maintained an Outperform rating.

ORLA Mining Ltd. (OLA:CA): CIBC World Markets maintained a Neutral rating with a $20.00 target.

Pan American Silver Corp. (PAAS:CA): Jefferies & Co. cut its price target to $54.00 from $58.00.

Pan American Silver Corp. (PAAS:CA): TD Securities maintained a Hold rating with a $45.00 target.

Paramount Resources Ltd. (POU:CA): Scotiabank raised its price target to $31.00 from $29.00 and maintained an Outperform rating.

Peyto Exploration & Development Corp. (PEY:CA): Scotiabank raised its price target to $27.00 from $24.00 and maintained an Outperform rating.

Secure Waste Infrastructure Corp. (SES:CA): Scotiabank lowered its price target to $20.00 from $21.50 while maintaining a Sector Perform rating.

Silver Tiger Metals Inc. (SLVR:CA): Stifel Nicolaus raised its price target to $1.70 from $1.30 and maintained a Buy rating.

Spartan Delta Corp. (SDE:CA): Scotiabank raised its price target to $11.00 from $8.00 and maintained an Outperform rating.

Stack Capital Group Inc. (STCK:CA): Canaccord Genuity raised its price target to $19.00 from $15.75.

Superior Plus Corp. (SPB:CA): TD Securities maintained a Buy rating with an $8.50 target.

Teck Resources Ltd. (TECK.B:CA): TD Securities maintained a Buy rating with a $70.00 target.

TFI International Inc. (TFII:CA): Scotiabank raised its price target to $170.00 from $140.00 while maintaining a Sector Perform rating.

TFI International Inc. (TFII:CA): Stifel Nicolaus increased its target to $113.00 from $100.00.

Tourmaline Oil Corp. (TOU:CA): Scotiabank lowered its price target to $75.00 from $80.00 while maintaining an Outperform rating.

TransAlta Corp. (TA:CA): CIBC lowered its price target to $25.00 from $26.00 while maintaining an Outperformer rating.

TransAlta Corp. (TA:CA): Jefferies & Co. assigned a $22.00 target on the stock.

Waste Connections Inc. (WCN:CA): Scotiabank lowered its price target to $282.00 from $290.00 while maintaining an Outperform rating.

Waste Management, Inc. (WM:CA): Scotiabank lowered its price target to $345.00 from $351.00.

Wesdome Gold Mines Ltd. (WDO:CA): CIBC World Markets maintained a Neutral rating with a $27.00 target.

West Fraser Timber Co. Ltd. (WFG:CA): TD Securities raised its price target to $93.00 from $88.00.

The post Canadian Analyst Updates: Jan 21st, 2026 appeared first on Stock Target Advisor.