Canadian Analyst Updates: Jan 7th, 2026
Analyst Ratings (Canada)
The following are today’s 27 entries of the latest analyst ratings tracked for Canadian-listed and Canadian-traded stocks, with several brokerages adjusting their outlooks and target prices in response to company-specific developments, earnings expectations, commodity fluctuations, and broader sector trends:
ACT Energy Technologies Ltd. (ACX:CA) saw Raymond James raise its price target to $10.00 from $8.75 while maintaining an Outperform rating, reflecting increased confidence in the company’s growth outlook.
ACT Energy Technologies Ltd. (ACX:CA) ATB Capital lifted its target to $7.25 from $6.50 while reiterating an Outperform rating.
Algonquin Power & Utilities Corp. (AQN:CA) was upgraded by National Bank to Outperform from Sector Perform, with the firm raising its target to $10.40 from $9.70, refelctingimproved fundamentals.
AltaGas Ltd. (ALA:CA) TD Securities maintained its Buy rating with a $48.00 target, reflecting confidence in the company’s stable cash flows.
AltaGas Ltd. (ALA:CA) CIBC maintained its Outperform rating and $50.00 target, underscoring a positive long-term outlook.
Aritzia Inc. (ATZ:CA) received a target increase from Raymond James to $130.00 from $110.00 while maintaining an Outperform rating, reflecting stronger earnings expectations.
Boardwalk REIT (BEI.UN:CA) TD Securities maintained its Buy rating with an $85.00 target, pointing to steady residential rental fundamentals.
Brookfield Renewable Partners L.P. (BEP.UN:CA) National Bank raised its target to $47.00 from $45.60 while maintaining an Outperform rating, reflecting improving sentiment toward renewable assets.
Cameco Corp. (CCO:CA) received a significant target increase from Bernstein to $140.00 from $100.00 while maintaining an Outperform rating, highlighting strong uranium market dynamics.
Canadian National Railway (CNR:CA) CIBC maintained its Outperform rating with a $154.00 price target, reflecting confidence in operational resilience.
Canadian Pacific Railway (CP:CA) CIBC raised its target price to $123.00 while maintaining an Outperform rating, citing improving volume trends.
Capital Power Corp. (CPX:CA) TD Securities maintained its Buy rating with an $80.00 price target, supported by stable power generation assets.
Capital Power Corp. (CPX:CA) also saw CIBC maintain its Outperform rating with an $81.00 target, reinforcing a constructive view.
Constellation Software Inc. (CSU:CA) RBC Capital Markets maintained its Outperform rating with a $5,600.00 target, reflecting confidence in its long-term acquisition-driven growth model.
Definity Financial Corp. (DFY:CA) was initiated by Jefferies & Co. with a Buy rating and an $88.00 price target, highlighting solid growth prospects.
Equinox Gold Corp. (EQX:CA) National Bank lowered its target to $26.00 from $28.00 while maintaining an Outperform rating, reflecting more conservative gold price assumptions.
Kinaxis Inc. (KXS:CA) RBC Capital Markets maintained its Outperform rating with a $235.00 price target, supported by long-term demand for supply chain software.
Lithium Argentina AG (LAR:CA) Stifel Nicolaus raised the target price to $11.75 from $8.30 while maintaining a Buy rating, reflecting improved lithium market expectations.
Logan Energy Corp. (LGN:CA) TD Securities maintained its Buy rating with a $1.25 price target, citing steady operational execution.
Mullen Group Ltd. (MTL:CA) CIBC raised its target to $17.00 from $15.00 while maintaining a Neutral rating, reflecting a balanced risk-reward outlook.
Polaris Renewable Energy Inc. (PIF:CA) received a target increase from National Bank to $21.00 from $20.00 while maintaining an Outperform rating.
PrairieSky Royalty Ltd. (PSK:CA) TD Securities maintained its Buy rating with a $29.00 price target, reflecting strong royalty cash flow visibility.
Restaurant Brands International Inc. (QSR:CA) Barclays Capital raised its target to $119.00 from $108.00 while maintaining an Overweight rating, reflecting improved earnings visibility.
Shopify Inc. (SHOP:CA) RBC Capital Markets maintained its Outperform rating with a $276.50 price target, reflecting confidence in long-term e-commerce growth.
Suncor Energy Inc. (SU:CA) received a target increase from Raymond James to $75.00 from $70.00 while maintaining an Outperform rating, supported by strong free cash flow generation.
TFI International Inc. (TFII:CA) CIBC raised its target to $167.00 from $155.00 while maintaining their Outperform rating, showing improved freight trends.
Waste Connections Inc. (WCN:CA) CIBC lowered its target price to $288.00 from $290.00 while maintaining an Outperform rating, reflecting minor valuation adjustments.
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