Canadian Analyst Coverage Update: July 23, 2025

Analyst Ratings (Canada)
Altagas Ltd (ALA:CA) had its target price raised by Jefferies & Co to $46.00.
Canadian National Railway (CNR:CA) had its target cut by RBC Capital to $157.00 with an Outperform rating.
Canadian National Railway (CNR:CA) had its target cut by Scotiabank to $153.00 with an Outperform rating.
Canadian National Railway (CNR:CA) had its target lowered by BMO Capital Markets to $163.00 while maintaining an Outperform rating.
Canadian National Railway (CNR:CA) had its target price lowered by Barclays Capital to $135.00.
Canadian National Railway (CNR:CA) had its target price raised by Citigroup to $121.00 with a Buy rating.
Canadian National Railway (CNR:CA) had its target reduced by ATB Capital to $150.00 with a Sector Perform rating.
Canadian National Railway (CNR:CA) was downgraded by JP Morgan to Neutral from a Buy rating, with a target of $163.00.
Canadian National Railway (CNR:CA) was downgraded by National Bank to Sector Perform with a target of $150.00.
Canadian National Railway Co (CNR:CA) had its target cut by TD Securities to $165.00 while maintaining a Buy rating.
Canfor Corp (CFP:CA) was reiterated as Buy by TD Securities with a $18.00 price target.
Chartwell Retirement Residences (CSH-UN:CA) was reiterated as Buy by TD Securities with a $21.00 price target.
Docebo Inc (DFY:CA): Scotibank price target raised to C$77.00
Element Fleet Management Corp (EFN:CA) had its target raised by Scotiabank to $40.00.
Enbridge Inc (ENB:CA) was upgraded by Jefferies & Co to Buy with a $72.00 price target.
Fairfax Financial Holdings Ltd (FFH:CA) had its target raised by Scotiabank to $2900.00 with an Outperform rating.
Fiera Capital Corp (FSZ-CA): Scotiabank price target raised to C$7.50
First National Financial (FN:CA): Scotiabank price target raised to C$46.00
Gibson Energy Inc (GEI:CA) was upgraded by Jefferies & Co to Buy with a $28.00 price target.
Gildan Activewear Inc (GIL:CA) was reiterated as Buy by TD Securities with a $81.00 price target.
Goeasy Ltd (GSY:CA) had its target raised by Scotiabank to $230.00.
Guardian Capital Group (GCG.A-:CA): Scotiabank price target raised to C$55.00
IGM Financial (IGM-T): Scotiabank price target raised to C$56.00
Intact Financial Corp (IFC:CA) had its target increased by Scotiabank to $325.00.
Mag Silver Corp (MAG:CA) was reiterated as Buy by TD Securities with a $30.79 price target.
Onex Corporation (ONEX:CA): Scotiabank price target raised to C$135.00
Paramount Resources Ltd (POU:CA) had its target raised by Jefferies & Co to $25.00.
Parkland Corp (PKI:CA) was maintained as Sell by TD Securities with a $44.00 target.
Pembina Pipeline Corp (PPL:CA) was downgraded by Jefferies & Co to Hold with a $53.00 price target.
Pet Valu Holdings Ltd (PET:CA) was maintained as Buy by TD Securities with a $35.00 target.
Power Corp (POW:CA) had its target raised by Scotiabank to $59.00.
Propel Holdings Inc (PRL:CA) had its target increased by Scotiabank to $43.00.
Rogers Communications Inc (RCI-B:CA) was maintained as Buy by TD Securities with a $57.00 target.
South Bow Corp (SOBO:CA) had its target raised by Jefferies & Co to $37.00.
TCP Energy Corp (TRP:CA) had its target cut by Jefferies & Co to $68.00.
TMX Group Ltd (X:CA) had its target raised by Scotiabank to $63.00.
Topaz Energy Corp (TPZ:CA) had its target raised by Jefferies & Co to $31.00.
Trisura Group Ltd (TSU:CA) had its target raised by Scotiabank to $51.00.
