Canadian Analyst Updates: April 24th, 2026

Analyst Ratings (Canada)

Today’s Analyst ratings and target changes collectively point to a cautiously but somewhat positive outlook with selective picks for stock.  The updated coverage suggests a market that is not broadly bearish but is transitioning into a more discriminating phase, where upside is increasingly tied to company-specific fundamentals and pricing power rather than broad multiple expansion, as valuations are getting stretched.

58 Analyst Updates:

Alithya Group Inc. (ALYA:CA) Scotia Capital lowered the target to $1.50 from $2.00 and maintained a Sector Perform rating.

Brookfield Renewable Partners L.P. (BEP.UN:CA) Desjardins Securities raised the target to $48 from $45 with a Hold rating.

Canadian Net REIT (NET.UN:CA) CIBC initiated with a Neutral rating and $7.00 target.

Canadian Tire Corporation, Ltd. (CTC-A:CA) TD Securities maintained a Hold rating with a $205.00 target.

Canfor Corp. (CFP:CA) Raymond James downgraded to Outperform from Strong Buy with a $17.00 target.

Capital Power Corp. (CPX:CA) Desjardins Securities upgraded to Top Pick with an $82.00 target.

Centerra Gold Inc. (CG:CA) Desjardins Securities raised the target to $33 from $30 with a Hold rating.

CGI Inc. (GIB.A:CA) Scotiabank lowered the target to $120 from $140 with a Sector Perform rating.

Chemtrade Logistics Income Fund (CHE.UN:CA) BMO Capital Markets upgraded to Outperform with an $18.50 target.

Discovery Silver Corp. (DSV:CA) Scotiabank maintained an Outperform rating with a $15.00 target.

Docebo Inc. (DCBO:CA) ATB Cormark raised the target to $36 from $35 with an Outperform rating.

Docebo Inc. (DCBO:CA) CIBC World Markets maintained an Outperform rating with a $38.00 target.

Endeavour Mining PLC (EDV:CA) Scotiabank maintained an Outperform rating with a $100.00 target.

First Quantum Minerals Ltd. (FM:CA) JPMorgan raised the target to $37 from $28 with a Neutral rating.

FirstService Corp. (FSV:CA) Scotiabank lowered the target to $260 with an Outperform rating.

FirstService Corp. (FSV:CA) TD Securities raised the target to $279 from $275 with a Buy rating.

FirstService Corp. (FSV:CA) CIBC World Markets maintained an Outperform rating with a $279.00 target.

Gildan Activewear Inc. (GIL:CA) CIBC World Markets maintained an Outperform rating with a $108.00 target.

GoGold Resources Inc. (GGD:CA) Desjardins Securities initiated with a Buy rating and $5.50 target.

Goodfood Market Corp. (FOOD:CA) Desjardins Securities lowered the target to $0.15 from $0.25 with a Hold rating.

Great-West Lifeco Inc. (GWO:CA) National Bank maintained a Sector Perform rating with a $65.00 target.

IA Financial Corp. Inc. (IAG:CA) National Bank maintained a Sector Perform rating with a $181.00 target.

Interfor Corp. (IFP:CA) Raymond James lowered the target to $13 from $14 with an Outperform rating.

Linamar Corp. (LNR:CA) Scotia Capital lowered the target to $96 from $99 with a Sector Perform rating.

Linamar Inc. (LNR:CA) Scotiabank lowered the target to $96.

Magna International (MG:CA) Scotiabank raised the target to $98.

Manulife Financial Corp. (MFC:CA) National Bank maintained an Outperform rating with a $57.00 target.

Mullen Group Ltd. (MTL:CA) CIBC World Markets maintained a Neutral rating and raised the target to $20.00 from $18.00 target.

Mullen Group Ltd. (MTL:CA) TD Securities raised the target to $24 from $21 with a Buy rating.

Mullen Group Ltd. (MTL:CA) Scotiabank raised the target to $21 with a Sector Perform rating.

Mullen Group Ltd. (MTL:CA) National Bank raised the target to $23 from $19 with an Outperform rating.

Mullen Group Ltd. (MTL:CA) Desjardins Securities raised the target to $23 from $20 with a Buy rating.

Mullen Group Ltd. (MTL:CA) Acumen Capital raised the target to $22 from $20.50 with a Buy rating.

Mullen Group Ltd. (MTL:CA) Raymond James raised the target to $18 from $17 with a Market Perform rating.

Mullen Group Ltd. (MTL:CA) RBC Capital raised the target to $21 from $19 with an Outperform rating.

Northland Power Inc. (NPI:CA) Desjardins Securities raised the target to $23 from $21 with a Hold rating.

Obsidian Energy Ltd. (OBE:CA) Raymond James raised the target to $19 from $14 with an Outperform rating.

Orla Mining Ltd. (OLA:CA) Desjardins Securities initiated with a Buy rating and $35.00 target.

Pecoy Copper Corp. (PCU:CA) Desjardins Securities initiated with a Buy rating and $4.00 target.

Pet Valu Holdings Ltd. (PET:CA) National Bank lowered the target to $27 from $28 with a Sector Perform rating.

Restaurant Brands International Inc. (QSR:CA) Citigroup raised the target to $120 from $104 with a Neutral rating.

Restaurant Brands International Inc. (QSR) JPMorgan raised the target to $109 from $105 with an Overweight rating.

Sagicor Financial Co. Ltd. (SFC:CA) National Bank raised the target to $13 with an Outperform rating.

StorageVault Canada Inc. (SVI:CA) Scotiabank maintained an Outperform rating with a $6.00 target.

StorageVault Canada Inc. (SVI:CA) CIBC World Markets maintained a Neutral rating with a $5.50 target.

StorageVault Canada Inc. (SVI:CA) Raymond James lowered the target to $5.50 from $5.75 with an Outperform rating.

Sun Life Financial Inc. (SLF:CA) National Bank raised the target to $109 with an Outperform rating.

Superior Plus Corp. (SPB:CA) ATB Cormark raised the target to $8.50 from $8.00 with an Outperform rating.

Teck Resources Ltd. (TECK.B:CA) TD Securities raised the target to $82 from $80 with a Hold rating.

Teck Resources Ltd. (TECK.B:CA) Scotiabank maintained a Sector Perform rating with a $75.00 target.

Teck Resources Ltd. (TECK.B:CA) National Bank raised the target to $92.50 from $90 with a Sector Perform rating.

Teck Resources Ltd. (TECK.B:CA) CIBC raised the target to $83 from $79.

Teck Resources Ltd. (TECK.B:CA) Raymond James raised the target to $80 from $78 with a Market Perform rating.

Teck Resources Ltd. (TECK.B:CA) Canaccord Genuity raised the target to $85.50 from $78 with a Hold rating.

The Descartes Systems Group Inc. (DSG:CA) Scotiabank maintained an Outperform rating with a $130.00 target.

Waste Connections Inc. (WCN:CA) CIBC World Markets maintained an Outperform rating with a $269.00 target.

Waste Connections Inc. (WCN:CA) RBC Capital raised the target to $298 from $287 with an Outperform rating.

West Fraser Timber Co. Ltd. (WFG:CA) Raymond James lowered the target to $102 from $116 with a Market Perform rating.

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