Canadian Analyst Updates: December 19th, 2025
Analyst Ratings (Canada)
The following are today’s 38 latest analyst ratings tracked from multiple analysts for Canadian listed and traded stocks for Friday December 19th:
ACT Energy Technologies Ltd. (ACX:CA) had its price target lowered to $6.50 from $6.75 by ATB Capital, while the firm maintained its Outperform rating, reflecting modestly tempered near-term expectations.
AKITA Drilling Ltd. (AKT.A:CA) saw ATB Capital reduce its target price to $2.25 from $2.50 and maintain a Sector Perform rating, reflecting a more cautious outlook for drilling activity.
Alimentation Couche-Tard Inc. (ATD:CA) was initiated by Desjardins Securities with a Buy rating and a price target of $85.00, highlighting confidence in the company’s long-term growth strategy and cash flow generation.
ARC Resources Ltd. (ARX:CA) was initiated by MKM Partners with a Buy rating and a $34.00 target price, supported by its strong free cash flow profile and leverage to natural gas fundamentals.
Aritzia Inc. (ATZ:CA) received a target price increase from BMO Capital Markets to $136.00 from $133.00, with the firm maintaining an Outperform rating on continued operational momentum.
Aritzia Inc. (ATZ:CA) also saw Desjardins Securities raise its target price significantly to $125.00 from $95.00 while maintaining a Buy rating, reflecting improving margins and brand strength.
ATEX Resources Ltd. (ATV:CA) had its Buy rating maintained by TD Securities with a $4.25 target price, as the firm continues to highlight exploration upside.
Aya Gold & Silver Inc. (AYA:CA) had its price target trimmed to $31.50 from $33.00 by Stifel Nicolaus, while the Buy rating was reiterated amid near-term execution considerations.
BlackBerry Ltd. (BB:CA) had its Hold rating and $7.00 target price reiterated by TD Securities, reflecting a balanced view on the company’s turnaround efforts.
CES Energy Solutions Corp. (CEU:CA) saw ATB Capital raise its target price to $14.50 from $14.00 and maintain an Outperform rating, reflecting strong earnings momentum and improving industry conditions.
Denison Mines Corp. (DML:CA) received a target price increase from National Bank to $5.00 from $4.50, while maintaining an Outperform rating due to uranium market strength.
Dream Industrial REIT (DIR.UN:CA) had its target raised to $15.75 from $14.50 by National Bank, with the Outperform rating reaffirmed on improving industrial real estate fundamentals.
Enerflex Ltd. (EFX:CA) was initiated by ATB Capital with an Outperform rating and a $26.00 target price, reflecting confidence in its global energy infrastructure exposure.
Ensign Energy Services Inc. (ESI:CA) had its target price lowered to $3.00 from $3.25 by ATB Capital, with a Sector Perform rating maintained amid softer outlook assumptions.
George Weston Ltd. (WN:CA) saw Desjardins Securities raise its target price to $110.00 from $103.00, reflecting improved valuation assumptions tied to retail operations.
Gildan Activewear Inc. (GIL:CA) was initiated by Desjardins Securities with a Buy rating and a $95.00 target price, supported by margin recovery expectations.
IsoEnergy Ltd. (ISO:CA) received a target increase from National Bank to $20.00 from $18.75 while maintaining an Outperform rating, driven by uranium sector strength.
Lithium Americas Corp. (LAC:CA) had its target price lowered to $7.50 from $10.00 by National Bank, with the Sector Perform rating maintained due to project execution risks.
Lithium Argentina AG (LAR:CA) saw National Bank raise its target price sharply to $9.00 from $4.75 while maintaining an Outperform rating, reflecting improved asset valuation.
Lithium Royalty Corp. (LIRC:CA) had its target price raised to $8.50 from $8.00 by National Bank, while maintaining an Outperform rating.
Luca Mining Corp. (LUCA:CA) was initiated by Haywood Securities with a Buy rating and a $3.00 target price, reflecting operational leverage to higher metals prices.
Midnight Sun Mining Corp. (MMA:CA) was initiated by Haywood Securities with a Buy rating and a $3.00 target price, reflecting exploration upside potential.
NexGen Energy Ltd. (NXE:CA) saw National Bank raise its target price to $18.00 from $15.50 while reiterating an Outperform rating, driven by uranium market fundamentals.
North American Construction Group Ltd. (NOA:CA) had its target price reduced to $19.00 from $21.00 by TD Securities, with a Hold rating maintained due to near-term cost pressures.
Pet Valu Holdings Ltd. (PET:CA) was initiated by Desjardins Securities with a Buy rating and a $38.00 target price, reflecting stable consumer demand and defensive characteristics.
PMET Resources Inc. (PMET:CA) had its target price raised to $7.00 from $6.25 by National Bank, while maintaining an Outperform rating tied to exploration success.
Precision Drilling Corp. (PD:CA) was initiated by ATB Capital with an Outperform rating and a $120.00 target price, reflecting strong free cash flow generation.
Premium Brands Holdings Corp. (PBH:CA) had its Buy rating and $160.00 target price maintained by TD Securities, reflecting confidence in execution and margin expansion.
Premium Brands Holdings Corp. (PBH:CA) was also initiated by Desjardins Securities with a Buy rating and a $120.00 target price, emphasizing long-term growth prospects.
Saputo Inc. (SAP:CA) saw Desjardins Securities raise its target price to $45.00 from $40.00 while maintaining a Buy rating, driven by improving dairy margins.
Tilray Brands Inc. (TLRY:CA) had Bernstein raise its target price to $13.60 from $13.00, reflecting incremental improvements in the company’s outlook.
Total Energy Services Inc. (TOT:CA) had its target price lowered to $20.00 from $20.50 by ATB Capital, while maintaining an Outperform rating.
Transat A.T. Inc. (TRZ:CA) had its Buy rating and $5.50 target price reiterated by TD Securities amid ongoing restructuring efforts.
Uranium Energy Corp. (UEC) saw National Bank raise its target price to $22.75 from $21.00 while maintaining an Outperform rating, supported by rising uranium prices.
Uranium Royalty Corp. (URC:CA) had its target price increased to $5.50 from $5.00 by National Bank, while maintaining a Sector Perform rating.
Western Energy Services Corp. (WRG:CA) had its target price lowered to $2.50 from $2.75 by ATB Capital, with a Sector Perform rating maintained.
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