Canadian Analyst Updates: January 26th, 2026

Analyst Ratings (Canada)

The following are today’s 127 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.

Alaris Equity Partners Income Trust (AD.UN:CA): RBC Capital raised its price target to $22.00 from $21.00 while maintaining a Sector Perform rating.

ATS Corporation (ATS:CA): TD Securities raised its price target to $48.00 from $46.00 and reiterated a Buy rating.

Aya Gold & Silver Inc. (AYA:CA): Scotiabank raised its price target to C$29.00 from C$19.00.

B2Gold Corp. (BTO:CA): Scotiabank raised its price target to C$10.00 from C$8.00.

Barrick Mining Corporation (ABX:CA): Scotiabank raised its price target to $86.50 from $59.00.

Bombardier Inc. (BBD.B:CA): Goldman Sachs raised its price target to $191.00 from $184.00 while maintaining a Sell rating.

Brookfield Corp. (BN:CA): RBC Capital raised its price target to $79.50 and reiterated an Outperform rating.

Cameco Corp. (CCO:CA): Desjardins Securities raised its price target to $185.00 from $160.00 and maintained a Buy rating.

Canadian Tire Corp. Ltd. (CTC.A:CA): National Bank raised its price target to $201.00 from $197.00 while maintaining a Sector Perform rating.

Canfor Corporation (CFP:CA): Scotiabank raised its price target to C$16.00 from C$13.00 and reiterated a Sector Perform rating.

Capstone Copper Corp. (CS:CA): Scotiabank raised its price target to C$18.50 from C$18.00, while Desjardins Securities lowered its price target to $18.00 from $18.50 and maintained a Buy rating.

Celestica Inc. (CLS:CA): RBC Capital initiated coverage with an Outperform rating and a $549.00 price target.

CES Energy Solutions Corp. (CEU:CA): ATB Capital raised its price target to $16.50 from $14.50 and reiterated an Outperform rating, while TD Securities raised its price target to $16.00 from $12.00 and maintained a Hold rating.

CGI Inc. (GIB.A:CA): RBC Capital lowered its price target to $150.00 from $165.00 while maintaining an Outperform rating.

Collective Mining Ltd. (CNL:CA): Scotiabank raised its price target to C$28.00 from C$25.00.

Constellation Software Inc. (CSU:CA): RBC Capital reduced its price target to $4,800.00 from $5,600.00 while maintaining an Outperform rating.

DPM Metals Inc. (DPM:CA): Scotiabank raised its price target to C$55.00 from C$43.00.

Eldorado Gold Corporation (ELD:CA): Scotiabank raised its price target to $81.00 from $45.00 and reiterated an Outperform rating.

Element Fleet Management Corp. (EFN:CA): RBC Capital maintained its Outperform rating with a $47.00 price target.

Endeavour Mining PLC (EDV:CA): Scotiabank raised its price target to C$90.00 from C$75.00.

Equinox Gold Corp. (EQX:CA): Scotiabank raised its price target to C$26.00 from C$19.00, while Stifel Nicolaus raised its price target to $25.00 from $24.00 and maintained a Buy rating.

Ero Copper Corp. (ERO:CA): Scotiabank raised its price target to C$50.00 from C$45.00, while Desjardins Securities raised its price target to $45.00 from $37.50 and maintained a Hold rating.

Fairfax Financial Holdings Ltd. (FFH:CA): RBC Capital maintained an Outperform rating with a $2,200.00 price target.

First Majestic Silver Corp. (AG:CA): Scotiabank raised its price target to $31.50 from $17.00.

First Quantum Minerals Ltd. (FM:CA): Scotiabank raised its price target to C$44.00 from C$42.00, while Desjardins Securities raised its price target to $40.00 from $34.00 and maintained a Hold rating.

Fortuna Mining Corp. (FSM:CA): Scotiabank raised its price target to $19.00 from $15.00.

Franco-Nevada Corporation (FNV:CA): Scotiabank raised its price target to $388.50 from $309.00, while Canaccord Genuity raised its price target to $380.00 from $350.00 and reiterated a Hold rating.

Galiano Gold, Inc. (GAU:CA): Scotiabank raised its price target to C$4.75 from C$3.50.

Hemlo Mining Corp. (HMMC:CA): Scotiabank raised its price target to C$8.00 from C$6.00.

Hudbay Minerals Inc. (HBM:CA): Scotiabank raised its price target to C$37.00 from C$31.00, while Raymond James raised its price target to $36.00 from $34.00 and maintained an Outperform rating, and Desjardins Securities raised its price target to $36.00 from $30.00 and reiterated a Buy rating.

IAMGOLD Corporation (IAM:CA): Scotiabank raised its price target to $31.50 from $21.00.

IGM Financial Inc. (IGM:CA): BMO Capital Markets raised its price target to $68.00 from $57.00, while RBC Capital raised its price target to $65.00 from $51.00 and maintained a Sector Perform rating.

Interfor Corporation (IFP:CA): Scotiabank raised its price target to $14.00 from $13.00 and reiterated an Outperform rating.

Ivanhoe Mines Ltd. (IVN:CA): Scotiabank raised its price target to C$21.00 from C$20.00.

K92 Mining Inc. (KNT:CA): Scotiabank raised its price target to C$32.00 from C$20.50.

Kinaxis Inc. (KXS:CA): RBC Capital lowered its price target to $200.00 from $235.00 while maintaining an Outperform rating.

Kinross Gold Corporation (KGC:CA): Scotiabank raised its price target to $62.00 from $44.00.

Lumine Group Inc. (LMN:CA): RBC Capital reduced its price target to $42.00 from $50.00 while maintaining an Outperform rating.

Lundin Gold Inc. (LUG:CA): Scotiabank raised its price target to C$90.00 from C$70.00.

Lundin Mining Corporation (LUN:CA): Scotiabank raised its price target to C$35.00 from C$31.00, while Desjardins Securities raised its price target to $35.00 from $30.00 and maintained a Buy rating, and Raymond James lowered its price target to $27.00 from $30.00 while maintaining a Market Perform rating.

Meridian Mining plc (MNO:CA): Scotiabank raised its price target to C$3.00 from C$2.50.

Metalla Royalty & Streaming Ltd. (MTA:CA): Scotiabank raised its price target to $12.00 from $10.00.

Montage Gold Corp. (MAU:CA): Scotiabank raised its price target to C$15.00 from C$10.00.

OceanaGold Corporation (OGC:CA): Scotiabank raised its price target to C$65.00 from C$44.00.

OpenText Corp. (OTEX:CA): RBC Capital lowered its price target to $45.00 from $48.00 while maintaining a Sector Perform rating.

Orla Mining Ltd. (OLA:CA): Scotiabank raised its price target to C$26.50 from C$21.00, while BMO Capital Markets raised its price target to $30.00 from $22.00.

Pan American Silver Corp. (PAAS:CA): Scotiabank raised its price target to $88.00 from $64.50.

Pharmacorp RX Inc. (PCRX:CA): Acumen Capital initiated coverage with a Buy rating and a $0.65 price target.

Power Corp. of Canada (POW:CA): RBC Capital raised its price target to $69.00 from $68.00 while maintaining a Sector Perform rating.

Precision Drilling Corp. (PD:CA): TD Securities raised its price target to $118.00 from $80.00.

Shopify Inc. (SHOP:CA): RBC Capital reiterated an Outperform rating and assigned a $274.00 price target.

Sigma Lithium Corp. (SGML:CA): Canaccord Genuity raised its price target to $28.00 from $20.50 and maintained a Buy rating.

Sienna Senior Living Inc. (SIA:CA): Scotiabank raised its price target to C$24.00 from C$22.50.

Skeena Resources Ltd. (SKE:CA): Scotiabank raised its price target to C$44.00 from C$25.00.

Snowline Gold Corp. (SGD:CA): Scotiabank raised its price target to C$25.00 from C$20.00.

Sprott Inc. (SII:CA): RBC Capital raised its price target to $186.00 from $132.00 while maintaining a Sector Perform rating.

SSR Mining Inc. (SSRM:CA): Scotiabank raised its price target to C$45.00 from C$39.00.

Suncor Energy Inc. (SU:CA): Desjardins Securities raised its price target to $79.00 from $74.00 and reiterated a Buy rating.

Teck Resources Limited (TECK.B:CA): Scotiabank raised its price target to C$75.00 from C$70.00, while Desjardins Securities raised its price target to $74.00 from $65.00 and maintained a Hold rating.

Thesis Gold Inc. (TAU:CA): Scotiabank raised its price target to C$5.50 from C$3.00.

Topicus.com Inc. (TOI:CA): RBC Capital lowered its price target to $160.00 from $190.00 while maintaining an Outperform rating.

Torex Gold Resources Inc. (TXG:CA): Scotiabank raised its price target to C$95.00 from C$72.00.

Tourmaline Oil Corp. (TOU:CA): Desjardins Securities raised its price target to $70.00 from $68.00 and reiterated a Buy rating.

Triple Flag Precious Metals Corp. (TFPM:CA): Scotiabank raised its price target to $59.00 from $47.00.

VitalHub Corp. (VHI:CA): RBC Capital lowered its price target to $12.00 from $13.00 while maintaining an Outperform rating.

Wesdome Gold Mines Ltd. (WDO:CA): Canaccord Genuity raised its price target to $28.00 from $27.00 and maintained a Hold rating.

Western Forest Products Inc. (WEF:CA): Scotiabank raised its price target to C$18.00 from C$12.50 and reiterated a Sector Perform rating.

Wheaton Precious Metals Corp. (WPM:CA): Scotiabank raised its price target to $240.00 from $176.00.

Whitecap Resources Inc. (WCP:CA): Desjardins Securities raised its price target to $14.00 from $13.50 and maintained a Buy rating.

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