The year is off to a strong start for stocks. The S&P/TSX Composite Index is up 5.5 per cent with gains across all 11 sectors. Of the 236 stocks in the TSX Index, 204 stocks, or 86 per cent, are in positive territory. Even more impressive is that 56 per cent of stocks in the TSX Index, or 131 stocks, have price returns of 5 per cent or more so far this year.
It has been broad-based rally with both large and small cap stocks gaining momentum. The S&P/TSX 60 Index, comprised of the 60 largest stocks listed on the Toronto Stock Exchange, is up 5.4 per cent. The S&P/TSX SmallCap Index has gained 6.4 per cent and the S&P/TSX Venture Composite Index is up 8.3 per cent.
Investors are bidding up stocks ahead of companies quarterly earnings announcements. While earnings estimates have been coming down, the Street is still calling for earnings growth. Right now, earnings are expected to rise 2.3 per cent in 2023, according to Bloomberg. After companies release their financial results, analysts will make adjustments to their models and may revise their target prices.
This report includes a link to a list of analysts’ current target prices, recommendations, and forecast returns for all securities in the S&P/TSX Composite Index grouped by sector and ranked according to their expected price returns (excluding dividend and distribution income). The posted target price for each security is an average of all available target prices from analysts. A target price typically reflects an expected share or unit price 12 months from now based on an analyst’s financial modelling, such as a discounted cash flow or sum-of-the-parts model.
It’s important to note that high target prices, which imply stellar returns that seem unbelievable may be just that - unrealistic. At times, when a stock price falls analysts may maintain their bullish expectations, inflating the forecast return. In addition, an outlier (extreme target price) can skew the average target price, to the upside or downside, particularly when the number of analysts covering a stock is low. Don’t let a huge projected gain lure you into a position – it is critical to analyze the company and industry fundamentals.
Click here to download an Excel version of the report .
Security Buy Hold Sell Jan. 17 Avg. Target Price Price Return COMMUNICATION SERVIES CCA-T COGECO COMMUNICATIONS INC 3 6 2 $68.95 $85.90 25% T-T TELUS CORP 13 3 0 $28.55 $32.38 13% RCI-B-T ROGERS COMMUNICATIONS INC 12 3 1 $65.37 $70.65 8% QBR-B-T QUEBECOR INC 10 2 1 $31.91 $34.42 8% SJR-B-T SHAW COMMUNICATIONS INC 0 10 0 $38.28 $40.17 5% BCE-T BCE INC 5 12 0 $62.93 $65.48 4% CONSUMER DISCRETIONARY TOY-T SPIN MASTER CORP 8 2 0 $34.00 $48.80 44% ATZ-T ARITZIA INC 7 1 0 $46.41 $61.53 33% PLC-T PARK LAWN CORP 7 1 0 $26.70 $35.06 31% DOO-T BRP INC 17 1 0 $107.24 $135.78 27% UNS-T UNI-SELECT INC 5 1 0 $38.15 $47.08 23% GIL-T GILDAN ACTIVEWEAR INC 10 2 0 $41.67 $51.42 23% LNR-T LINAMAR CORP 5 1 0 $66.04 $80.00 21% CTC-A-T CANADIAN TIRE CORP 9 1 1 $158.18 $186.64 18% PET-T PET VALU HOLDINGS LTD 6 1 0 $38.96 $45.17 16% MTY-T MTY FOOD GROUP INC 3 4 0 $60.72 $67.00 10% ZZZ-T SLEEP COUNTRY CANADA HOLDINGS INC 4 2 0 $24.80 $27.33 10% MG-T MAGNA INTERNATIONAL INC 11 6 1 $87.21 $95.47 9% DOL-T DOLLARAMA INC 10 5 0 $82.65 $90.46 9% QSR-T RESTAURANT BRANDS INTERNATIONAL INC 13 15 1 $88.82 $92.80 4% GOOS-T CANADA GOOSE HOLDINGS INC 8 4 2 $29.47 $29.43 0% CONSUMER STAPLES PRMW-T PRIMO WATER CORP 9 1 0 $20.58 $26.27 28% JWEL-T JAMIESON WELLNESS INC 9 1 0 $35.91 $45.03 25% PBH-T PREMIUM BRANDS HOLDINGS CORP 7 2 0 $91.33 $112.11 23% MFI-T MAPLE LEAF FOODS INC 5 1 0 $26.25 $32.17 23% EMP-A-T EMPIRE CO LTD 6 2 1 $36.88 $42.44 15% L-T LOBLAW COMPANIES LTD 7 4 1 $118.26 $132.50 12% WN-T WESTON (GEORGE) LTD 4 4 0 $172.27 $187.25 9% ATD-T ALIMENTATION COUCHE-TARD INC 15 2 0 $63.07 $68.50 9% SAP-T SAPUTO INC 6 2 1 $36.82 $38.61 5% NWC-T NORTH WEST CO INC 0 4 0 $36.87 $38.50 4% MRU-T METRO INC 2 8 1 $74.26 $76.36 3% ENERGY VET-T VERMILION ENERGY INC 8 6 0 $20.78 $34.93 68% DML-T DENISON MINES CORP 6 1 0 $1.73 $2.81 63% AAV-T ADVANTAGE ENERGY LTD 12 2 0 $9.11 $14.35 57% PXT-T PAREX RESOURCES INC 10 1 0 $21.89 $34.30 57% EFR-T ENERGY FUELS INC 8 0 0 $9.04 $13.88 54% TVE-T TAMARACK VALLEY ENERGY LTD 13 1 0 $4.64 $7.05 52% NXE-T NEXGEN ENERGY LTD 12 0 0 $6.23 $9.38 50% BIR-T BIRCHCLIFF ENERGY LTD 13 2 0 $9.13 $13.72 50% CPG-T CRESCENT POINT ENERGY CORP 11 2 0 $9.67 $14.44 49% HWX-T HEADWATER EXPLORATION INC 8 1 0 $6.27 $9.36 49% ARX-T ARC RESOURCES LTD 15 0 0 $17.03 $24.93 46% BTE-T BAYTEX ENERGY CORP 2 9 0 $6.03 $8.70 44% AOI-T AFRICA OIL CORP 5 2 0 $2.53 $3.59 42% PD-T PRECISION DRILLING CORP 11 1 0 $109.70 $153.11 40% NVA-T NUVISTA ENERGY LTD 8 5 0 $12.23 $16.92 38% SDE-T SPARTAN DELTA CORP 13 0 0 $15.54 $21.27 37% TPZ-T TOPAZ ENERGY CORP 15 0 0 $21.94 $29.95 36% WCP-T WHITECAP RESOURCES INC 14 1 0 $10.89 $14.75 35% TOU-T TOURMALINE OIL CORP 13 0 0 $69.69 $94.00 35% PEY-T PEYTO EXPLORATION & DEV CORP 5 6 0 $13.57 $18.30 35% SES-T SECURE ENERGY SERVICES INC 10 1 0 $7.71 $10.32 34% FRU-T FREEHOLD ROYALTIES LTD 13 3 0 $15.66 $20.59 32% ATH-T ATHABASCA OIL CORP 2 3 0 $2.44 $3.20 31% CVE-T CENOVUS ENERGY INC 16 2 1 $25.66 $32.94 28% CCO-T CAMECO CORP 10 0 0 $34.04 $43.50 28% POU-T PARAMOUNT RESOURCES LTD 7 3 0 $31.34 $39.35 26% PKI-T PARKLAND CORP 14 1 0 $31.47 $39.29 25% PSI-T PASON SYSTEMS INC 4 1 1 $16.56 $20.58 24% SU-T SUNCOR ENERGY INC 12 8 1 $44.04 $53.08 21% MEG-T MEG ENERGY CORP 8 6 0 $20.08 $23.85 19% IMO-T IMPERIAL OIL LTD 5 11 3 $66.50 $78.26 18% CNQ-T CANADIAN NATURAL RESOURCES LTD 16 7 0 $78.25 $91.71 17% ERF-T ENERPLUS CORP 11 2 0 $23.54 $27.06 15% TRP-T TC ENERGY CORP 6 11 5 $57.64 $63.89 11% PSK-T PRAIRIESKY ROYALTY LTD 9 6 0 $23.08 $25.30 10% KEY-T KEYERA CORP 10 4 0 $31.76 $33.79 6% ENB-T ENBRIDGE INC 12 11 0 $55.83 $58.29 4% PPL-T PEMBINA PIPELINE CORP 11 5 1 $48.59 $50.39 4% GEI-T GIBSON ENERGY INC 2 11 1 $24.76 $25.39 3% FINANCIALS ECN-T ECN CAPITAL CORP 5 2 0 $2.80 $4.93 76% GSY-T GOEASY LTD 8 1 0 $116.73 $198.00 70% BN-T BROOKFIELD CORP 10 0 1 $47.78 $64.82 36% ONEX-T ONEX CORPORATION 3 2 0 $68.28 $91.80 34% EQB-T EQB INC 7 0 0 $59.31 $79.43 34% TSU-T TRISURA GROUP LTD 7 0 0 $44.86 $57.50 28% CIX-T CI FINANCIAL CORP 5 4 0 $15.40 $18.31 19% LB-T LAURENTIAN BANK OF CANADA 2 8 2 $35.09 $40.25 15% EFN-T ELEMENT FLEET MANAGEMENT CORP 8 1 0 $19.42 $22.08 14% DFY-T DEFINITY FINANCIAL CORP 8 3 0 $37.67 $42.68 13% TD-T TORONTO-DOMINION BANK 10 5 1 $89.95 $101.28 13% FFH-T FAIRFAX FINANCIAL HLDGS LTD 6 1 1 $817.99 $920.28 13% X-T TMX GROUP LTD 2 5 0 $137.37 $154.14 12% BNS-T BANK OF NOVA SCOTIA 4 11 0 $69.65 $77.94 12% IFC-T INTACT FINANCIAL CORP 11 1 1 $198.64 $221.69 12% CWB-T CANADIAN WESTERN BANK 8 5 0 $27.29 $30.31 11% CM-T CAN IMPERIAL BK OF COMMERCE 3 11 2 $58.89 $64.68 10% BAM-T BROOKFIELD ASSET MGMT 5 3 1 $42.67 $46.42 9% BMO-T BANK OF MONTREAL 11 3 1 $132.01 $142.22 8% NA-T NATIONAL BANK OF CANADA 7 4 2 $97.95 $103.89 6% RY-T ROYAL BANK OF CANADA 12 5 1 $135.30 $142.96 6% POW-T POWER CORP OF CANADA 1 8 0 $35.22 $36.94 5% SLF-T SUN LIFE FINANCIAL INC 8 6 1 $64.99 $67.63 4% SII-T SPROTT INC 1 2 0 $53.83 $55.81 4% MFC-T MANULIFE FINANCIAL CORP 7 9 1 $25.46 $26.39 4% IAG-T IA FINANCIAL CORP INC 8 1 0 $81.12 $83.44 3% IGM-T IGM FINANCIAL INC 4 4 1 $41.11 $42.00 2% HCG-T HOME CAPITAL GROUP INC 1 2 0 $42.37 $42.40 0% GWO-T GREAT-WEST LIFECO INC 0 10 1 $34.27 $33.46 -2% HEALTH CARE BLU-T BELLUS HEALTH INC 8 1 0 $10.59 $25.79 144% BHC-T BAUSCH HEALTH COS INC 2 6 1 $10.38 $16.38 58% CRON-T CRONOS GROUP INC 5 8 2 $3.38 $4.92 46% TLRY-T TILRAY BRANDS INC 4 13 3 $4.34 $5.79 33% WEED-T CANOPY GROWTH CORP 2 8 9 $3.63 $4.69 29% SIA-T SIENNA SENIOR LIVING INC 4 3 0 $12.04 $14.43 20% CSH-UN-T CHARTWELL RETIREMENT RESIDENCES 4 1 0 $9.56 $11.30 18% INDUSTRIALS CJT-T CARGOJET INC 9 2 0 $120.48 $197.00 64% BBU-UN-T BROOKFIELD BUSINESS PARTNERS LP 5 0 1 $25.43 $40.58 60% RCH-T RICHELIEU HARDWARE LTD 2 1 0 $37.38 $50.50 35% SNC-T SNC-LAVALIN GROUP INC 11 2 0 $28.08 $35.69 27% AC-T AIR CANADA 13 3 0 $22.04 $27.20 23% MTL-T MULLEN GROUP LTD 5 5 0 $14.06 $16.65 18% BLDP-T BALLARD POWER SYSTEMS INC 4 18 3 $8.27 $9.76 18% CAE-T CAE INC 10 2 0 $28.71 $33.75 18% ATS-T ATS CORP 8 0 0 $51.15 $59.57 16% GFL-T GFL ENVIRONMENTAL INC 13 0 1 $40.96 $47.63 16% WCN-T WASTE CONNECTIONS INC 15 2 2 $176.26 $203.77 16% RUS-T RUSSEL METALS INC 3 4 0 $30.89 $35.67 15% BDGI-T BADGER INFRASTRUCTURE SOLUTIONS LTD 2 4 1 $29.82 $34.32 15% EIF-T EXCHANGE INCOME CORP 11 0 0 $53.52 $61.27 14% WTE-T WESTSHORE TERMINALS INVESTMENT CORP 1 4 0 $23.97 $27.40 14% STN-T STANTEC INC 10 1 0 $69.23 $77.27 12% TIH-T TOROMONT INDUSTRIES LTD 6 2 0 $106.00 $117.38 11% FTT-T FINNING INTERNATIONAL INC 8 0 0 $36.97 $40.63 10% TFII-T TFI INTERNATIONAL INC 18 4 0 $141.25 $153.69 9% BYD-T BOYD GROUP SERVICES INC 8 4 0 $213.47 $229.25 7% WSP-T WSP GLOBAL INC 11 2 1 $170.30 $181.36 6% CP-T CANADIAN PACIFIC RAILWAY LTD 19 10 1 $107.39 $113.13 5% CNR-T CANADIAN NATL RAILWAY COMPANY 9 22 3 $166.65 $171.60 3% BBD-B-T BOMBARDIER INC 13 2 2 $62.29 $63.03 1% RBA-T RITCHIE BROS AUCTIONEERS INC 5 3 1 $79.97 $80.90 1% TRI-T THOMSON REUTERS CORP 9 6 2 $158.32 $160.15 1% INFORMATION TECHNOLOGY CTS-T CONVERGE TECHNOLOGY SOLUTIONS CORP 13 1 0 $5.13 $8.77 71% LSPD-T LIGHTSPEED COMMERCE INC 17 3 1 $22.20 $35.36 59% KXS-T KINAXIS INC 11 0 0 $140.24 $212.54 52% NVEI-T NUVEI CORP 9 4 0 $43.31 $57.33 32% TIXT-T TELUS INTERNATIONAL CDA INC 11 5 0 $29.84 $38.44 29% OTEX-T OPEN TEXT CORP 7 2 0 $43.91 $55.84 27% DND-T DYE & DURHAM LTD 5 0 0 $19.72 $23.90 21% BB-T BLACKBERRY LTD 1 4 3 $5.47 $6.57 20% GIB-A-T CGI INC 11 2 1 $116.42 $131.23 13% DSG-T DESCARTES SYSTEMS GROUP INC 7 5 1 $95.66 $102.76 7% CSU-T CONSTELLATION SOFTWARE INC 6 1 0 $2,275.10 $2,360.00 4% CLS-T CELESTICA INC 3 5 0 $17.49 $18.05 3% SHOP-T SHOPIFY INC 18 25 4 $53.53 $54.56 2% ENGH-T ENGHOUSE SYSTEMS LTD 2 2 0 $39.05 $39.13 0% MATERIALS SEA-T SEABRIDGE GOLD INC 4 0 0 $18.09 $57.63 219% LAC-T LITHIUM AMERICAS CORP 13 1 0 $27.72 $52.00 88% IFP-T INTERFOR CORP 5 1 0 $20.75 $35.33 70% OSK-T OSISKO MINING INC 12 0 0 $3.38 $5.21 54% SSL-T SANDSTORM GOLD LTD 10 2 0 $7.62 $11.52 51% SIL-T SILVERCREST METALS INC 8 0 0 $8.69 $13.14 51% CFP-T CANFOR CORP 6 1 0 $21.63 $32.00 48% WDO-T WESDOME GOLD MINES LTD 7 5 0 $7.77 $11.44 47% DPM-T DUNDEE PRECIOUS METALS INC 9 0 0 $7.90 $11.33 43% WFG-T WEST FRASER TIMBER CO LTD 6 2 0 $97.97 $140.04 43% KNT-T K92 MINING 12 1 0 $8.00 $11.25 41% TCL-A-T TRANSCONTINENTAL INC 3 3 0 $15.40 $21.50 40% EDR-T ENDEAVOUR SILVER CORP 3 6 0 $4.75 $6.36 34% ASTL-T ALGOMA STEEL GROUP INC 3 2 0 $8.70 $11.55 33% BTO-T B2GOLD CORP 14 1 0 $5.40 $7.10 31% WPK-T WINPAK LTD 3 1 0 $42.24 $54.67 29% NG-T NOVAGOLD RESOURCES INC 2 2 0 $8.66 $11.15 29% SSRM-T SSR MINING INC 10 1 0 $22.87 $28.94 27% OR-T OSISKO GOLD ROYALTIES LTD 12 1 0 $17.38 $21.94 26% FVI-T FORTUNA SILVER MINES INC 4 3 0 $4.75 $5.98 26% CCL-B-T CCL INDUSTRIES INC 10 1 0 $59.91 $75.30 26% NTR-T NUTRIEN LTD 17 6 1 $102.13 $128.32 26% OGC-T OCEANAGOLD CORP 8 2 0 $2.81 $3.47 24% IVN-T IVANHOE MINES LTD 10 0 0 $11.69 $14.37 23% TXG-T TOREX GOLD RESOURCES INC 5 4 0 $17.65 $21.56 22% PAAS-T PAN AMERICAN SILVER CORP 6 0 0 $24.62 $29.86 21% K-T KINROSS GOLD CORP 10 5 0 $6.17 $7.44 21% MAG-T MAG SILVER CORP 8 4 0 $20.86 $24.78 19% ELD-T ELDORADO GOLD CORP 5 5 1 $11.69 $13.86 19% HBM-T HUDBAY MINERALS INC 14 3 0 $8.08 $9.56 18% SJ-T STELLA-JONES INC 6 1 0 $47.94 $56.57 18% FR-T FIRST MAJESTIC SILVER CORP 2 4 0 $11.44 $13.28 16% AEM-T AGNICO EAGLE MINES LTD 15 0 0 $73.06 $84.49 16% FIL-T FILO MINING CORP 12 1 0 $24.81 $28.66 16% WPM-T WHEATON PRECIOUS METALS CORP 13 2 0 $59.00 $67.36 14% CG-T CENTERRA GOLD INC 3 6 1 $7.77 $8.77 13% EQX-T EQUINOX GOLD CORP 5 4 2 $5.39 $6.06 13% ABX-T BARRICK GOLD CORP 19 6 0 $25.12 $28.25 12% FNV-T FRANCO-NEVADA CORP 9 6 1 $190.27 $208.87 10% CS-T CAPSTONE COPPER CORP 12 0 0 $6.13 $6.59 8% FM-T FIRST QUANTUM MINERALS LTD 9 9 4 $29.57 $31.69 7% ERO-T ERO COPPER CORP 8 4 0 $20.27 $21.63 7% AGI-T ALAMOS GOLD INC 9 4 0 $14.42 $15.35 6% TECK-B-T TECK RESOURCES LTD 18 5 1 $54.69 $57.35 5% LUN-T LUNDIN MINING CORP 5 15 2 $8.99 $9.10 1% MX-T METHANEX CORP 4 5 2 $59.69 $60.30 1% YRI-T YAMANA GOLD INC 5 4 0 $8.01 $8.09 1% STLC-T STELCO HOLDINGS INC 3 4 1 $49.60 $48.18 -3% IMG-T IAMGOLD CORP 3 6 2 $3.64 $3.49 -4% LIF-T LABRADOR IRON ORE ROYALTY CORP 1 6 0 $38.44 $35.00 -9% REAL ESTATE TCN-T TRICON RESIDENTIAL INC 10 4 0 $11.44 $14.75 29% CIGI-T COLLIERS INTERNATIONAL GROUP INC 6 2 0 $134.64 $172.01 28% NWH-UN-T NORTHWEST HEALTHCARE PROPERTIES REIT 4 3 0 $9.99 $12.50 25% AP-UN-T ALLIED PROPERTIES REIT 10 0 0 $29.82 $36.03 21% GRT-UN-T GRANITE REIT 10 0 0 $77.01 $92.00 19% SVI-T STORAGEVAULT CANADA INC 7 0 0 $6.38 $7.61 19% HR-UN-T H&R REIT 4 2 0 $12.99 $15.25 17% BEI-UN-T BOARDWALK REIT 7 2 0 $52.52 $60.89 16% AIF-T ALTUS GROUP LTD 6 2 0 $55.75 $63.13 13% AX-UN-T ARTIS REIT 1 4 0 $9.71 $10.95 13% DIR-UN-T DREAM INDUSTRIAL REIT 8 0 0 $13.48 $15.18 13% PMZ-UN-T PRIMARIS REIT 4 0 0 $15.13 $17.00 12% CAR-UN-T CANADIAN APARTMENT PROPERTIES REIT 11 1 1 $47.90 $53.42 12% KMP-UN-T KILLAM APARTMENT REIT 11 2 0 $18.30 $20.36 11% SRU-UN-T SMARTCENTRES REIT 2 3 0 $28.70 $31.10 8% REI-UN-T RIOCAN REIT 7 0 0 $22.73 $24.39 7% CRR-UN-T CROMBIE REIT 4 3 0 $16.90 $18.00 7% FSV-T FIRSTSERVICE CORP 2 3 0 $185.47 $194.63 5% CRT-UN-T CT REIT 2 4 0 $16.52 $17.25 4% FCR-UN-T FIRST CAPITAL REIT 4 2 0 $18.32 $19.10 4% IIP-UN-T INTERRENT REIT 9 1 1 $14.10 $14.57 3% SMU-UN-T SUMMIT INDUSTRIAL INCOME REIT 0 3 0 $22.76 $23.50 3% CHP-UN-T CHOICE PROPERTIES REIT 2 5 0 $15.75 $15.25 -3% UTILITIES ALA-T ALTAGAS LTD 15 0 0 $24.21 $31.60 31% TA-T TRANSALTA CORP 9 3 0 $12.81 $16.55 29% BEP-UN-T BROOKFIELD RENEWABLE PARTNERS LP 11 4 0 $38.98 $49.96 28% INE-T INNERGEX RENEWABLE ENERGY INC 7 4 1 $16.45 $20.48 24% NPI-T NORTHLAND POWER INC 14 2 0 $38.75 $47.94 24% BIP-UN-T BROOKFIELD INFRASTRUCTURE PARTNERS LP 9 3 1 $46.70 $57.27 23% AQN-T ALGONQUIN POWER & UTILITIES CORP 3 8 3 $9.60 $11.48 20% RNW-T TRANSALTA RENEWABLES INC 3 9 0 $12.34 $14.36 16% BLX-T BORALEX INC 9 5 0 $40.67 $47.21 16% SPB-T SUPERIOR PLUS CORP 7 4 0 $11.36 $13.14 16% CPX-T CAPITAL POWER CORP 5 8 0 $46.70 $52.46 12% ACO-X-T ATCO LTD 3 3 1 $44.04 $48.64 10% EMA-T EMERA INC 9 7 1 $54.31 $58.13 7% FTS-T FORTIS INC 5 10 3 $56.38 $57.19 1% CU-T CANADIAN UTILITIES LTD 0 7 1 $38.10 $37.56 -1% H-T HYDRO ONE LTD 5 9 1 $37.83 $36.57 -3%
Source: Bloomberg
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