Canadian Analyst Updates: Feb 6th, 2026

Analyst Ratings (Canada)

The following are today’s 78 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:

Adentra Inc. (ADEN:CA): Stifel Nicolaus raised its price target to $51.00 from $47.00 while maintaining a Buy rating.

Aecon Group Ltd. (ARE:CA): Stifel Nicolaus increased its target price to $34.25 from $30.00 and maintained a Hold rating.

Alamos Gold Inc. (AGI:CA): Scotiabank raised its target price to $82.00 and maintained an Outperform rating, supported by higher gold prices.

Alamos Gold Inc. (AGI:CA): Haywood Securities lowered its target to $71.50 from $77.50.

ARC Resources Ltd. (ARX:CA): TD Securities maintained a Buy rating with a $28.00 target.

ARC Resources Ltd. (ARX:CA): Scotiabank maintained a Buy rating with a $28.00 target.

ARC Resources Ltd. (ARX:CA): CIBC downgraded the stock to Neutral with a $25.00 target.

ARC Resources Ltd. (ARX:CA): National Bank cut its target to $26.00 from $27.00 while maintaining a Sector Perform rating.

AtkinsRéalis Group Inc. (ATRL:CA): Stifel Nicolaus raised its price target to $121.00 from $120.00 and maintained a Buy rating.

Badger Infrastructure Solutions Ltd. (BDGI:CA): Stifel Nicolaus lowered its target price to $85.00 from $88.00 while maintaining a Buy rating.

Barrick Mining Corp. (ABX:CA): TD Securities maintained a Buy rating with an $83.00 target, supported by higher gold prices and earnings strength.

BCE Inc. (BCE:CA): TD Securities maintained a Buy rating with a $38.00 target.

BCE Inc. (BCE:CA): Scotiabank maintained an Outperform rating with a $39.50 target.

BCE Inc. (BCE:CA): JP Morgan raised its target price to $37.00 from $33.00.

BCE Inc. (BCE:CA): Desjardins Securities lowered its target to $40.00 from $41.00 while maintaining a Buy rating.

BCE Inc. (BCE:CA): National Bank raised its target to $39.00 from $38.00 and reiterated an Outperform rating.

Boyd Group Services Inc. (BYD:CA): CIBC World Markets raised its target price to $290.00 from $280.00.

Cameco Corp. (CCO:CA): National Bank raised its target to $175.00 from $145.00 while maintaining an Outperform rating.

Canada Goose Holdings Inc. (GOOS:CA): Wells Fargo lowered its target price to $19.00 from $22.00 while maintaining an Overweight rating.

Canada Goose Holdings Inc. (GOOS:CA): Barclays lowered its target to $10.00 from $12.00 and reiterated an Underperform rating.

Canadian Pacific Kansas City Ltd. (CP:CA): TD Securities maintained a Hold rating with a $112.00 target.

Denison Mines Corp. (DML:CA): National Bank raised its target to $6.00 from $4.85 and maintained an Outperform rating.

Doman Building Materials Group Ltd. (DBM:CA): Stifel Nicolaus raised its target price to $11.75 from $11.00 while maintaining a Buy rating.

DPM Metals Inc. (DPM:CA): TD Securities maintained a Buy rating with a $57.00 target.

DPM Metals Inc. (DPM:CA): Scotiabank raised its target to $57.00 and maintained an Outperform rating.

DPM Metals Inc. (DPM:CA): CIBC maintained a Neutral rating with a $58.00 target.

Ero Copper Corp. (ERO:CA): Jefferiescut its target to $38.00 from $45.00.

Ero Copper Corp. (ERO:CA): ATB Capital raised its target to $50.00 from $37.00 and reiterated an Outperform rating.

Finning International Inc. (FTT:CA): CIBC World Markets raised its target price to $102.00 from $84.00.

Hemlo Mining Corp. (HMMC:CA): National Bank initiated coverage with an Outperform rating and a $9.00 target.

Lightspeed Commerce Inc. (LSPD:CA): TD Securities lowered its target to $11.00 from $15.00 and maintained a Hold rating.

Lightspeed Commerce Inc. (LSPD:CA): BTIG lowered its target to $15.00 from $16.00 while maintaining a Buy rating.

Lightspeed Commerce Inc. (LSPD:CA): Barclays lowered its target to $12.00 from $14.00 and maintained a Hold rating.

Lightspeed Commerce Inc. (LSPD:CA): RBC Capital lowered its target to $13.00 from $15.00 and reiterated an Outperform rating.

Lightspeed Commerce Inc. (LSPD:CA): Stifel Nicolaus lowered its target to $12.00 from $15.00 and maintained a Hold rating.

Lightspeed Commerce Inc. (LSPD:CA): Scotiabank maintained a Sector Perform rating with a $16.50 target.

MDA Space Ltd. (MDA:CA): Desjardins Securities raised its target price to $48.00 from $39.00 and maintained a Buy rating.

Methanex Corp. (MX:CA): CIBC World Markets raised its target to $71 from $63 while maintaining a Neutral rating.

Neo Performance Materials Inc. (NEO:CA): Stifel Nicolaus raised its target to $23.00 from $22.50 and maintained a Buy rating.

NexGen Energy Ltd. (NXE:CA): National Bank raised its target to $19.00 from $18.00 and reiterated an Outperform rating.

NovaGold Resources Inc. (NG:CA): Scotiabank initiated coverage with an Outperform rating and a $21.00 target.

Open Text Corp. (OTEX:CA): TD Securities maintained a Hold rating with a target of $38.00.

Open Text Corp. (OTEX:CA): Barclays lowered its target to $41.00 from $53.00 and maintained an Equal-Weight rating.

Open Text Corp. (OTEX:CA): RBC Capital cut its target to $41.00 from $45.00 while maintaining a Sector Perform rating.

Open Text Corp. (OTEX:CA): Raymond James cut its target to $57.50 from $66.00 and reiterated an Outperform rating.

Open Text Corp. (OTEX:CA): Citigroup cut its target to $35.50 from $49.00 and maintained a Neutral rating.

Open Text Corp. (OTEX:CA): Scotiabank maintained an Outperform rating with a $68.50 target.

Osisko Metals Inc. (OM:CA): Scotiabank maintained an Outperform rating with a $1.20 target.

Primaris REIT (PMZ.UN:CA): BMO Capital Markets initiated coverage with a target of $20.00 and an Outperform rating.

Rogers Sugar Inc. (RSI:CA): TD Securities maintained a Hold rating with a $7.00 target.

Rogers Sugar Inc. (RSI:CA): Scotiabank lowered its target to $6.00 fron $6.50 and downgraded the rating to Underperform  from Sector Perform.

Russel Metals Inc. (RUS:CA): Stifel Nicolaus raised its target to $50.50 from $49.00 while maintaining a Hold rating.

Saputo Inc. (SAP:CA): TD Securities maintained a Buy rating with a $49.00 target.

Saputo Inc. (SAP:CA): Scotiabank maintained an Outperform rating with a $44.00 target.

Saputo Inc. (SAP:CA): RBC Capital raised its target to $50.00 from $47.00 and reiterated an Outperform rating.

Secure Waste Infrastructure Corp. (SES:CA): Stifel Nicolaus raised its target to $23.50 from $23.00 and maintained a Buy rating.

Stantec Inc. (STN:CA): Stifel Nicolaus raised its target to $173.00 from $169.00 and reiterated a Buy rating.

Stella-Jones Inc. (SJ:CA): CIBC World Markets raised its target price to $100.00 from $90.00.

Thomson Reuters Corp. (TRI:CA): TD Securities cut its target to $175.00 from $285.00 while maintaining a Buy rating.

Thomson Reuters Corp. (TRI:CA): National Bank lowered its target to $175.00 from $190.00 but reiterated an Outperform rating.

Thomson Reuters Corp. (TRI:CA): BMO Capital Markets lowered its target to $165.00 from $275.00.

Thomson Reuters Corp. (TRI:CA): RBC Capital raised its target to $172.00 from $212.00 while maintaining a Sector Perform rating.

Thomson Reuters Corp. (TRI:CA): CIBC raised its target to $192.00 from $250.00 and reiterated an Outperform rating.

Thomson Reuters Corp. (TRI:CA): Scotiabank lowered its target to $$140 from $183 while maintaining an Outperform rating.

TMX Group Ltd. (X:CA): TD Securities maintained a Buy rating with a $60.00 target.

TMX Group Ltd. (X:CA): Scotiabank maintained an Outperform rating with a $70.00 target.

Toromont Industries Ltd. (TIH:CA): CIBC World Markets raised its target to $180.00 from $172.00.

West Fraser Timber Co. Ltd. (WFG:CA): CIBC World Markets raised its target price to $106.00 from $96.00.

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