Canadian Analyst Updates: Oct 22nd, 2025
Analyst Ratings (Canada)
The following are today’s latest 46 analyst ratings tracked from muliple analysts for Canadian listed and traded stocks:
Advantage Energy Ltd (AAV:CA) — National Bank lowered its target price to C$14.00 from C$14.50, maintaining a Sector Perform rating due to modest adjustments in natural gas price forecasts.
Arc Resources Ltd (ARX:CA) — National Bank cut its target price to C$33.00 from C$38.00, maintaining an Outperform rating reflecting softer gas market assumptions.
Badger Infrastructure Solutions Ltd (BDGI:CA) — Raymond James raised its target to C$72.00 from C$60.00, maintaining a Market Perform rating on improving operational margins.
Baytex Energy Corp (BTE:CA) — National Bank lowered its target to C$4.50 from C$4.75, maintaining Outperform based on stable production but limited price upside.
Birchcliff Energy Ltd (BIR:CA) — National Bank trimmed its target to C$9.00 from C$9.25, keeping an Outperform rating as gas prices remain range-bound.
Brookfield Infrastructure Partners L.P. (BIP-UN:CA) — TD Securities maintained a Buy rating with a C$53.00 target, reflecting strong infrastructure asset performance.
Capital Power Corp (CPX:CA) — Desjardins Securities raised its target to C$83.00 from C$80.00, maintaining a Buy rating on improving renewable generation outlook.
CCL Industries Inc (CCL-B:CA) — TD Securities maintained its Buy rating with a C$95.00 target, supported by steady demand in global packaging markets.
Celestica Inc (CLS:CA) — RBC Capital raised its target to $440.00, maintaining Outperform on robust AI and data center demand.
Cenovus Energy Inc (CVE:CA) — National Bank reduced its target to C$28.00 from C$29.00, maintaining Outperform due to adjusted production guidance.
Definity Financial Corp (DFY:CA) — TD Securities lowered its target to C$74.00 from C$81.00, reflecting near-term underwriting cost pressures.
Dryden Gold Corp (DRY:CA) — Couloir Capital maintained its Buy rating with a C$0.85 target, reflecting encouraging exploration progress.
Eldorado Gold Corp (ELD:CA) — Canaccord Genuity raised its target to C$54.00 from C$42.00, maintaining Buy on stronger gold production and lower costs.
Emera Inc (EMA:CA) — Desjardins Securities lifted its target to C$68.00 from C$64.00, maintaining Hold as the company benefits from steady regulated returns.
Fairfax Financial Holdings Ltd (FFH:CA) — Scotiabank raised its target to C$3,050.00 from C$2,900.00, maintaining Outperform citing strong investment portfolio gains.
Fortis Inc (FTS:CA) — Desjardins Securities raised its target to C$79.00 from C$76.00, maintaining Buy for stable dividend growth and regulated earnings.
Franco-Nevada Corp (FNV:CA) — Canaccord Genuity increased its target to C$350.00 from C$322.00, maintaining Buy driven by robust gold royalty streams.
Freehold Royalties Ltd (FRU:CA) — National Bank raised its target to C$15.00 from C$14.50, keeping Outperform due to solid royalty revenue visibility.
InPlay Oil Corp (IPO:CA) — National Bank lowered its target to C$15.00 from C$16.00, maintaining Outperform, citing softer near-term production volumes.
Intact Financial Corp (IFC:CA) — TD Securities cut its target to C$346.00 from C$359.00; Scotiabank reduced to C$318.00 from C$339.00, and CIBC lowered to C$288.00 from C$315.00, reflecting higher claim costs and weather-related losses.
Interfor Corp (IFP:CA) — CIBC World Markets cut its target to C$10.00 from C$12.00, maintaining Neutral due to weaker lumber prices.
Loblaw Companies Ltd (L:CA) — National Bank raised its target to C$61.00 from C$60.00, maintaining Outperform, driven by strong grocery sales resilience.
MEG Energy Corp (MEG:CA) — TD Securities downgraded to Sell and lowered its target to C$28.00 from C$30.00, reflecting weaker refining margins and valuation risk.
Mullen Group Ltd (MTL:CA) — TD Securities maintained a Buy rating with a C$19.00 target, supported by stable logistics activity.
Nutrien Inc (NTR:CA) — Scotiabank maintainedSector Perform with a C$91.00 target, reflecting steady fertilizer pricing and demand moderation.
NuVista Energy Ltd (NVA:CA) — National Bank raised its target to C$20.00 from C$18.50, maintaining Sector Perform on solid operations and cash flow strength.
Ovintiv Inc (OVV:CA) — National Bank cut its target to C$87.00 from C$92.00, maintaining Outperform on disciplined capital management.
PrairieSky Royalty Ltd (PSK:CA) — Raymond James raised its target to C$30.00 from C$29.00, maintaining Market Perform due to steady royalty income.
Saputo Inc (SAP:CA) — Jefferies & Co increased its target to C$40.00 from C$38.00, maintaining Buy reflecting efficiency gains and stronger export pricing.
Spin Master Corp (TOY:CA) — Canaccord Genuity lowered its target to C$20.00 from C$24.00, reflecting cautious demand outlook in the toy segment.
Stella-Jones Inc (SJ:CA) — CIBC World Markets downgraded to Neutral with a C$89.00 target, citing valuation concerns post-rally.
Strathcona Resources Ltd (SCR:CA) — National Bank cut its target to C$36.00 from C$38.00, maintaining Sector Perform following modest Q3 performance.
Suncor Energy Inc (SU:CA) — National Bank raised its target to C$68.00 from C$65.00, reiterating Outperform, highlighting margin expansion and dividend reliability.
Teck Resources Ltd (TECK-B:CA) — TD Securities maintained a Buy rating with a C$70.00 target, supported by strong copper output and solid balance sheet.
Tenaz Energy Corp (TNZ:CA) — National Bank lifted its target to C$34.00 from C$32.00, maintaining Outperform due to improved cash flow and operational efficiency.
TransAlta Corp (TA:CA) — Desjardins Securities raised its target to C$21.00 from C$16.50, maintaining Hold following operational recovery and progress in renewables.
Ucore Rare Metals Inc (UCU:CA) — Raymond James initiated coverage with an Outperform rating and a C$14.50 target, noting strong strategic positioning in critical minerals.
Vermilion Energy Inc (VET:CA) — National Bank lowered its target to C$15.00 from C$17.00, maintaining Outperform, reflecting geopolitical headwinds in Europe.
Wesdome Gold Mines Ltd (WDO:CA) — TD Securities maintained a Hold rating with a C$25.00 target, reflecting balanced risk-reward post-Q3 results.
West Fraser Timber Co. Ltd (WFG:CA) — CIBC World Markets cut its target to C$113.00 from C$119.00, maintaining Outperform, reflecting lumber price softness.
Whitecap Resources Inc (WCP:CA) — National Bank lowered its target to C$14.50 from C$15.00, maintaining Outperform, reflecting commodity volatility but strong balance sheet support.
The post Canadian Analyst Updates: Oct 22nd, 2025 appeared first on Stock Target Advisor.
