Canadian Analyst Coverage Update: July 29th, 2025

Analyst Ratings (Canada)

AGF Management Ltd (AGF-B:CA) was rated “Hold” by Morningstar with a target price of $13.

Air Canada (AC:CA) was rated “Outperform” by Morningstar with a target price of $24.00.

Air Canada (AC:CA) was rated “Outperform” by Scotia Capital with a target price of $24.

Altius Minerals Corp. (ALS:CA) was rated “Buy” by TD Securities with a target price of $34.00.

BCE Inc. (BCE:CA) was rated “Hold” by Morningstar with a target price of $33.00.

BCE Inc. (BCE:CA) was rated “Neutral” by CIBC with a target price of $33.

Blue Lagoon Resources (BLLG:CA) was rated “Buy” by Fundamental Research with a target price of $1.11.

BRP INC. (DOO:CA) was rated “Buy” by TD Securities with a target price of $70.00.

Brookfield Asset Management Ltd. (BAM:CA) was rated “Outperform” by National Bank with a target price of $98.

Brookfield Asset Management Ltd. (BAM:CA) was rated “Buy” by TD Securities with a target price of $103.00.

Brookfield Corp. (BN:CA) was rated “Outperform” by National Bank with a target price of $113.

Canadian Tire (CTC-A:CA) was rated “Buy” by TD Securities with a target price of $201.00.

Capital Power Corp. (CPX:CA) was rated “Buy” by TD Securities with a target price of $69.00.

CGI Inc. (GIB-A:CA) was rated “Buy” by Desjardins Securities with a target price of $166.00.

Choice Properties REIT (CHP-UN:CA) was rated “Outperform” by Scotia Capital with a target price of $16.00.

Colabor Group Inc. (GCL:CA) was rated “Outperform” by Raymond James with a target price of $1.50.

Colabor Group Inc. (GCL:CA) was rated “Buy” by Desjardins Securities with a target price of $1.50.

Definity Financial Corp. (DFY:CA) was rated “Outperform” by National Bank with a target price of $92.00.

Doman Building Materials Group Ltd. (DBM:CA) was rated “Buy” by TD Securities with a target price of $10.

Element Fleet Management Corp. (EFN:CA) was rated “Outperform” by National Bank with a target price of $46.00.

Equinox Gold Corp. (EQX:CA) was rated “Sector Perform” by Scotia Capital with a target price of $9.50.

Fairfax Financial Holdings Ltd. (FFH:CA) was rated “Outperform” by National Bank with a target price of $3,000.00.

First National Financial Corp. (FN:CA) was rated “Tender” by National Bank with a target price of $48.00.

First National Financial Corp. (FN:CA) was rated “Sell” by TD Securities with a target price of $48.00.

First National Financial Corp. (FN:CA) was rated “Sector Perform” by Scotiabank with the target price increased to $48.00.

First Phosphate Corp. (PHOS:CA) was rated “Buy” by Fundamental Research with a target price of $1.15.

First Quantum Minerals Ltd. (FM:CA) was rated “Buy” by Barclays Capital with a target price of $26.00.

George Weston Ltd. (WN:CA) was maintained as “Buy” by TD Securities with a target price of $313.00.

Gibson Energy (GEI:CA) was maintained as “Outperform” by Scotia Capital with a target price of $26.00.

Gibson Energy Inc. (GEI:CA) was maintained as “Hold” by TD Securities with a target price of $25.00.

Goeasy Ltd. (GSY:CA) was rated “Buy” by TD Securities with a target price of $205.00.

Goeasy Ltd. (GSY:CA) was rated “Outperform” by National Bank with a target price of $255.00.

Goeasy Ltd. (GSY:CA) was rated “Outperform” by BMO Capital Markets with a target price of $228.00.

H&R REIT (HR-UN:CA) was rated “Buy” by TD Securities with a target price of $14.00.

IGM Financial Inc. (IGM:CA) was rated “Outperform” by National Bank with a target price of $56.00.

Intact Financial Corp. (IFC:CA) was rated “Outperform” by National Bank with a target price of $350.00.

Loblaw Companies Ltd. (L:CA) was rated “Buy” by TD Securities with a target price of $174.00.

Loblaw Companies Ltd. (L:CA) was rated “Outperform” by Scotia Capital with a target price of $174.00.

Magna International Inc. (MG:CA) was rated “Buy” by TD Securities with a target price of $83.00.

Magna International Inc. (MG:CA) was rated “Outperform” by National Bank with a target price of $79.00.

Manulife Financial Corp. (MFC:CA) was rated “Buy” by TD Securities with a target price of $43.00.

Manulife Financial Corp. (MFC:CA) was rated “Buy” by Fundamental Research with a target price of $37.89.

Manulife Financial Corp. (MFC:CA) was rated “Buy” by CIBC with a target price of $40.00.

Metro Inc. (MRU:CA) was rated “Buy” by TD Securities with a target price of $80.00.

Metro Inc. (MRU:CA) was rated “Outperform” by Scotia Capital with a target price of $80.00.

Northland Power Inc. (NPI:CA) was rated “Buy” by TD Securities with a target price of $26.00.

NorthWest Healthcare Properties REIT (NWH-UN:CA) was rated “Sector Perform” by Scotia Capital with a target price of $7.00.

Nutrien Ltd. (NTR:CA) was rated “Outperform” by National Bank with a target price of $92.00.

Nutrien Ltd. (NTR:CA) was rated “Buy” by TD Securities with a target price of $90.00.

Nutrien Ltd. (NTR:CA) was rated “Buy” by CIBC with a target price of $90.00.

Open Text Corporation (OTEX:CA) was rated “Outperform” by National Bank with a target price of $65.00.

Open Text Corporation (OTEX:CA) was rated “Buy” by TD Securities with a target price of $65.00.

Park Lawn Corp. (PLC:CA) was rated “Outperform” by National Bank with a target price of $24.00.

Power Corporation of Canada (POW:CA) was rated “Buy” by TD Securities with a target price of $46.00.

Power Corporation of Canada (POW:CA) was rated “Outperform” by National Bank with a target price of $45.00.

Rogers Communications Inc. (RCI-B:CA) was rated “Buy” by TD Securities with a target price of $75.00.

Rogers Communications Inc. (RCI-B:CA) was rated “Outperform” by Scotia Capital with a target price of $77.00.

Royal Bank of Canada (RY:CA) was rated “Buy” by TD Securities with a target price of $162.00.

Royal Bank of Canada (RY:CA) was rated “Buy” by CIBC with a target price of $160.00.

Saputo Inc. (SAP:CA) was rated “Buy” by TD Securities with a target price of $34.00.

Shopify Inc. (SHOP:CA) was rated “Buy” by TD Securities with a target price of $100.00.

Sun Life Financial Inc. (SLF:CA) was rated “Buy” by TD Securities with a target price of $80.00.

Sun Life Financial Inc. (SLF:CA) was rated “Buy” by CIBC with a target price of $79.00.

Sun Life Financial Inc. (SLF:CA) was rated “Buy” by National Bank with a target price of $82.00.

TELUS Corporation (T:CA) was rated “Buy” by TD Securities with a target price of $28.00.

TELUS Corporation (T:CA) was rated “Buy” by CIBC with a target price of $27.00.

TELUS Corporation (T:CA) was rated “Outperform” by National Bank with a target price of $27.00.

Thomson Reuters Corp. (TRI:CA) was rated “Hold” by TD Securities with a target price of $189.00.

Thomson Reuters Corp. (TRI:CA) was rated “Hold” by National Bank with a target price of $191.00.

Toronto-Dominion Bank (TD:CA) was rated “Buy” by TD Securities with a target price of $95.00.

Toronto-Dominion Bank (TD:CA) was rated “Buy” by CIBC with a target price of $93.00.

Toronto-Dominion Bank (TD:CA) was rated “Buy” by National Bank with a target price of $94.00.

Waste Connections Inc. (WCN:CA) was rated “Buy” by TD Securities with a target price of $235.00.

Waste Connections Inc. (WCN:CA) was rated “Outperform” by National Bank with a target price of $230.00.

Winpak Ltd. (WPK:CA) was rated “Hold” by TD Securities with a target price of $50.00.

Winpak Ltd. (WPK:CA) was rated “Sector Perform” by Scotia Capital with a target price of $50.00.