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Canadian Analyst Updates: May 19th, 2026

Stock Target Advisor News - Stock Target Advisor - Tue May 19, 4:06PM CDT
Canadian Analyst Updates: May 19th, 2026

Analyst Ratings (Canada)

Today’s analyst updates reflect a mildly positive but cautious outlook for Canadian stocks where the dominant signal is incremental target increases rather than widespread rating upgrades, indicating improving earnings expectations without strong conviction for a broad re-rating.

The tone suggests selective optimism, led by resilience in energy and materials (supported by stable commodity fundamentals and steady cash-flow assumptions), alongside steady financials and mixed but generally constructive industrial/infrastructure coverage where demand trends remain supportive but not accelerating.

At the same time, growth-oriented and higher-multiple areas remain more neutral, with limited upgrade momentum, reflecting valuation sensitivity and a preference for fundamentals over expansion in multiples.  Overall, the positioning points to a market in a consolidation phase with a modest upward bias, where upside exists but is likely to be selective and stock-specific rather than broad-based across the TSX.

56 Analyst Updates 

Agnico Eagle Mines Limited (AEM:CA) CIBC maintained an Outperform rating with a $417 target.

AtkinsRealis Group Inc. (ATRL:CA) Scotiabank reiterated Sector Outperform with a $105 target.

AutoCanada Inc. (ACQ:CA) ATB Cormark lowered its target to $21 from $22, maintaining Sector Perform.

Automotive Properties REIT (APR.UN:CA) Scotiabank reiterated Sector Perform with a $13 target.

Bird Construction Inc. (BDT:CA) CIBC raised its target to $61 from $52. TD Securities increased its target to $72 from $63, reiterating Buy.

Brookfield Corp. (BN:CA) TD Securities raised its target to $83 from $81 with a Buy rating.

BSR REIT (HOM.U:CA) Scotiabank reiterated Sector Perform with a $13 target.

Calian Group Ltd. (CGY:CA) ATB Cormark raised its target to $98.50 from $92.50, maintaining Outperform.

CCL Industries Inc. (CCL.B:CA) Scotiabank reiterated Sector Perform with a $98 target.

Cenovus Energy Inc. (CVE:CA) RBC Capital raised its target to $47 from $45, maintaining Outperform.

Constellation Software Inc. (CSU:CA) CIBC maintained Outperform with a $4,000 target.

Diversified Royalty Corp. (DIV:CA) CIBC raised its target to $4.70 from $4.25 with a Neutral rating. Desjardins raised its target to $4.75 from $4.50 with a Buy rating.

Dream Unlimited Corp. (DRM:CA) TD Securities reiterated Buy with a C$29 target.

DRI Healthcare Trust (DHT.U:CA) Scotiabank increased its target to $30, maintaining Sector Outperform.

DRI Healthcare Trust (DHT.UN:CA) National Bank raised its target to $23.50 from $22.50, maintaining Outperform. Scotiabank raised its target to $30 from $25, maintaining Sector Outperform. Stifel Nicolaus raised its target to $23 from $22, maintaining Buy.

Faraday Copper Corp. (FDY:CA) Ventum Capital maintained Buy with a $7 target.

Finning International Inc. (FTT:CA) TD Securities increased its target to $115 from $106, maintaining Buy.

First Quantum Minerals (FM:CA) Morgan Stanley raised its target to $42.20 from $37.70, maintaining Overweight.

H&R REIT (HR.UN:CA) Scotiabank maintained Sector Perform with an $11.75 target. TD Securities reiterated Buy with an $11.50 target.

Information Services Corp. (ISC:CA) CIBC maintained Neutral with a $51 target.

Interfor Corp. (IFP:CA) Scotiabank reiterated Sector Outperform with a $15 target.  TD Securities lowered its target to $10 from $12, maintaining Hold.

Keyera Corp (KEY:CA) Jefferies initiated Buy with a $65 target.

Mattr Corp. (MATR:CA) TD Securities raised its target to $14 from $10, maintaining Hold.

OceanaGold (OGC:CA) CIBC maintained Outperform with a $72 target. TD Securities reiterated Buy with a $56 target.

Onex Corp. (ONEX:CA) RBC lowered its target to $130 from $136, maintaining Sector Perform. Scotiabank reiterated Sector Outperform with a $175 target. TD  Securities maintained  a Buy with a $160 target.

Pembina Pipeline Corp (PPL:CA) Citigroup raised its target to $70 from $63, maintaining Neutral.

Pizza Pizza Royalty Corp. (PZA:CA) TD Securities lowered its target to $12 from $14, maintaining Hold.

PRO Real Estate Investment Trust (PRV.UN:CA) Desjardins raised its target to $6.75 from $6.50, maintaining Hold.

Sagicor Financial Company Ltd. (SFC:CA) Scotiabank reiterated Sector Outperform with a $12 target.

SSR Mining Inc. (SSRM:CA) Scotiabank maintained a Outperform with a $55 target.

Stantec Inc. (STN:CA) CIBC lowered its target to $160 from $173.

Suncor Energy Inc. (SU:CA) TD Securities reiterated Buy with a $113 target.

Superior Plus Corp. (SPB:CA) Scotiabank raised its target to $8.50 from $7, maintaining Sector Perform.

Tamarack Valley Energy Ltd. (TVE:CA) Roth Capital initiated Buy with a $15 target.

TerraVest Industries Inc. (TVK:CA) Canaccord lowered its target to $190 from $192, maintaining Buy. Scotiabank lowered its target to $172 from $178, maintaining a Outperform.

Thomson Reuters Corp. (TRI:CA) Bank of America Securities cut its target to $135 from $158, maintaining Neutral.

Transat A.T. Inc. (TRZ:CA) CIBC maintained Underperform with a $2 target. TD Securities reiterated Hold with a $2.50 target.

Vermilion Energy Inc. (VET:CA) RBC Capital raised its target to $24 from $22, maintaining Sector Perform.

Wesdome Gold Mines Ltd. (WDO:CA) CIBC maintained Neutral with a $31 target.

More Ratings:

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