Canadian Analyst Updates: July 28th, 2026

Analyst Ratings (Canada)

Today’s analyst coverage shows the strongest confidence in energy, industrials, transportation, and technology sectors due to improving cash flow trends, structural growth opportunities, and resilient demand. The energy sector continues to benefit from supportive commodity fundamentals, disciplined capital spending, and investor preference for stable income-generating assets. Industrials and transportation remain attractive as companies benefit from infrastructure investment, efficiency improvements, and recovering economic activity. The technology sector maintains a favourable long-term outlook, supported by artificial intelligence, automation, and digital transformation trends, although valuations remain a key consideration. Defensive consumer sectors continue to provide stability amid economic uncertainty, while select areas face pressure from changing consumer behaviour and margin challenges. Real estate remains more cautious as higher interest rates continue to impact valuations, though potential future rate cuts could provide support. Telecommunications continue to face headwinds from competitive pressures, elevated debt levels, and slower growth expectations. Overall, investors are favouring sectors with strong balance sheets, reliable cash generation, pricing power, and long-term growth opportunities.

Analyst Rating Updates

AirBoss of America Corp. (BOS:CA) – TD Securities maintained its Buy rating with a $10.00 price target, reflecting continued confidence in the company’s valuation and future growth prospects.

Alithya Group Inc. (ALYA:CA) – ATB Cormark upgraded its target price to $1.60 and assigned an Outperform rating, indicating improved expectations for business performance and earnings growth.

AltaGas Ltd. (ALA:CA) – TD Securities maintained its Buy rating with a $55.00 price target, supporting a positive outlook for the company’s regulated utility and infrastructure assets.

Bombardier Inc. (BBD.B:CA) – TD Securities raised its price target to $306.00 from $292.00 while maintaining a Hold rating, reflecting improved valuation expectations but a balanced risk-reward profile.

BRP Inc. (DOO:CA) – TD Securities maintained its Hold rating with a $92.00 price target, indicating a cautious view on near-term recreational vehicle market conditions.

Celestica Inc. (CLS:CA) – TD Securities maintained its Buy rating with a $430.00 price target, reflecting continued optimism regarding technology manufacturing demand and growth opportunities.

Chorus Aviation Inc. (CHR:CA) – TD Securities increased its target price to $33.00 from $32.00 while maintaining a Buy rating, suggesting improving expectations for operational performance.

Empire Company Ltd. (EMP-A:CA) – TD Securities maintained its Hold rating with a $53.00 price target, reflecting a neutral outlook based on current valuation.

First Capital REIT (FCR-UN:CA) – CIBC World Markets maintained its Neutral rating with a $24.40 price target, reflecting a balanced view on valuation and sector conditions.

First Capital REIT (FCR-UN:CA) – Scotiabank maintained its Sector Perform rating with a $24.50 price target, indicating expectations for performance in line with the broader REIT sector.

Gibson Energy Inc. (GEI:CA) – BMO Capital Markets increased its target price to $32.00 from $29.00, reflecting improved expectations for the company’s cash flow generation and infrastructure assets.

Gibson Energy Inc. (GEI:CA) – CIBC World Markets raised its target price to $34.00 from $33.00 and maintained an Outperform rating, highlighting stronger confidence in the company’s growth outlook.

Gibson Energy Inc. (GEI:CA) – Scotiabank maintained its Sector Perform rating with a $31.00 price target, suggesting a balanced view relative to industry peers.

Gibson Energy Inc. (GEI:CA) – TD Securities maintained its Buy rating with a $34.00 price target, continuing to support the company’s long-term investment outlook.

Gildan Activewear Inc. (GIL:CA) – Desjardins Securities initiated coverage with a Buy rating and a $108.00 price target, reflecting confidence in earnings growth and operational execution.

goeasy Ltd. (GSY:CA) – TD Securities maintained its Hold rating with a $32.00 price target, indicating a cautious stance on valuation.

K-Bro Linen Inc. (KBL:CA) – National Bank increased its target price to $54.00 from $51.00 while maintaining an Outperform rating, reflecting improved expectations for profitability and growth.

Loblaw Companies Ltd. (L:CA) – TD Securities maintained its Buy rating with a $75.00 price target, supporting the company’s defensive earnings profile.

Lundin Gold Inc. (LUG:CA) – Scotiabank maintained its Sector Perform rating with a $90.00 price target, reflecting a neutral stance despite favourable gold market conditions.

Metro Inc. (MRU:CA) – TD Securities maintained its Buy rating with a $106.00 price target, highlighting confidence in stable consumer demand and earnings resilience.

Pet Valu Holdings Ltd. (PET:CA) – RBC Capital lowered its target price to $24.00 from $26.00 while maintaining an Outperform rating, reflecting a reduced valuation outlook but continued confidence in long-term performance.

Pet Valu Holdings Ltd. (PET:CA) – TD Securities maintained its Buy rating with a $22.00 price target, indicating continued positive expectations.

Planet 13 Holdings Inc. (PLTH:CA) – Canaccord Genuity lowered its target price to $0.21 from $0.25 and maintained a Hold rating, reflecting weaker growth expectations.

Profound Medical Corp. (PRN:CA) – Raymond James initiated coverage with a Strong Buy rating, highlighting significant growth potential.

Restaurant Brands International Inc. (QSR:CA) – RBC Capital initiated coverage with an Outperform rating and a $120.00 price target, reflecting confidence in future growth opportunities.

Restaurant Brands International Inc. (QSR:CA) – Scotiabank maintained its Sector Perform rating with a $117.00 price target, suggesting expectations for market-level performance.

Rockpoint Gas Storage Inc. (RGSI:CA) – JP Morgan increased its target price to $33.00 from $32.00, reflecting improved expectations for energy infrastructure demand.

StorageVault Canada Inc. (SVI:CA) – TD Securities maintained its Buy rating with a $6.00 price target, supporting the company’s growth strategy.

Tamarack Valley Energy Ltd. (TVE:CA) – CIBC World Markets maintained its Outperform rating with a $16.50 price target, reflecting confidence in production growth and operational performance.

Telus Corp. (T:CA) – ATB Cormark lowered its target price to $16.50 from $19.00 while maintaining a Sector Perform rating, reflecting increased caution toward telecom sector conditions.

TFI International Inc. (TFII:CA) – Stifel Nicolaus increased its target price to $225.00 from $211.00 while maintaining a Hold rating, indicating improved valuation expectations.

TFI International Inc. (TFII:CA) – BofA Securities raised its target price to $264.00 from $251.00 and maintained a Buy rating, reflecting stronger earnings expectations.

TFI International Inc. (TFII:CA) – Desjardins Securities increased its target price to $245.00 from $221.00 while maintaining a Buy rating, highlighting improving fundamentals.

TFI International Inc. (TFII:CA) – National Bank increased its target price to $227.00 from $225.00 and maintained an Outperform rating.

TFI International Inc. (TFII:CA) – Citigroup cut its target price to $254.00 from $257.00 while maintaining a Buy rating.

TFI International Inc. (TFII:CA) – Scotiabank increased its target price to $371.00 from $367.00 while maintaining an Outperform rating, representing one of the strongest bullish revisions.

TFI International Inc. (TFII:CA) – RBC Capital raised its target price to $241.00 from $223.00 and maintained an Outperform rating.

Topaz Energy Corp. (TPZ:CA) – BMO Capital Markets increased its target price to $36.50 from $35.50, reflecting improved expectations for energy royalty growth.

Topaz Energy Corp. (TPZ:CA) – CIBC World Markets raised its target price to $35.25 from $34.50, indicating stronger confidence in future performance.

Topaz Energy Corp. (TPZ:CA) – Scotiabank maintained its Outperform rating with a $36.00 price target, supporting a positive outlook.

Topaz Energy Corp. (TPZ:CA) – TD Securities maintained its Buy rating with a $35.00 price target, reflecting continued confidence.

Trisura Group Ltd. (TSU:CA) – ATB Cormark lowered its target price to $51.00 from $55.00 while maintaining an Outperform rating, reflecting a more conservative valuation outlook.

WSP Global Inc. (WSP:CA) – TD Securities lowered its target price to $255.00 from $307.00 while maintaining a Buy rating, reflecting revised valuation assumptions.

WSP Global Inc. (WSP:CA) – CIBC World Markets maintained its Outperform rating with a $266.00 price target, indicating continued confidence in the company’s long-term growth prospects.

WSP Global Inc. (WSP:CA) – TD Securities again maintained its Buy rating with a revised $255.00 price target from $307.00, reflecting updated valuation expectations.

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