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We are halfway through the first quarter of 2022 and so far it’s been a challenging period for many investors.

Year-to-date, the S&P/TSX Composite Index is down slightly, approximately 1 per cent, however, seven of the 11 sectors have realized negative price returns ranging from minus 3 per cent to a hefty loss of 37 per cent for the technology sector. The four sectors with gains are energy, materials, communication services and financials.

Despite the market volatility and negative returns for many stocks, analysts remain bullish. Of the 240 stocks in the S&P/TSX Composite Index, only four securities are forecast by the Street to deliver negative price returns over the next year (New Gold Inc., Labrador Iron Ore Royalty Corp., Turquoise Hill Resources Ltd., and Artis REIT). Meanwhile, 193 stocks, or 80 per cent, are anticipated to realize positive double-digit price returns.

Below is a list of analysts’ 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 reflect 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. All data is as of the close on Feb. 18.

Click here to download an Excel version of the guide.

SecurityFeb. 18 priceBuysHoldsSellsAvg. Target PriceForecast Price Return
Communication Services
CJR-B-TCORUS ENTERTAINMENT INC $5.09 710 $8.24 62%
QBR-B-TQUEBECOR INC $30.10 1210 $37.31 24%
CCA-TCOGECO COMMUNICATIONS INC $104.72 641 $127.22 21%
RCI-B-TROGERS COMMUNICATIONS INC $66.33 1150 $71.67 8%
SJR-B-TSHAW COMMUNICATIONS INC $37.30 760 $40.14 8%
T-TTELUS CORP $32.13 1340 $33.63 5%
BCE-TBCE INC $66.72 6101 $66.67 0%
Consumer Discretionary
MRE-TMARTINREA INTERNATIONAL INC $9.99 720 $16.08 61%
DOO-TBRP INC $94.07 1610 $138.40 47%
LNR-TLINAMAR CORP $67.35 500 $98.75 47%
ZZZ-TSLEEP COUNTRY CANADA HOLDINGS INC $31.86 430 $45.80 44%
GOOS-TCANADA GOOSE HOLDINGS INC $36.16 952 $49.10 36%
MTY-TMTY FOOD GROUP INC $53.41 440 $71.36 34%
PLC-TPARK LAWN CORP $34.93 900 $46.42 33%
TOY-TSPIN MASTER CORP $44.81 831 $56.09 25%
CTC-A-TCANADIAN TIRE CORP $192.39 731 $234.14 22%
ATZ-TARITZIA INC $54.16 710 $65.57 21%
MG-TMAGNA INTERNATIONAL INC $98.78 1531 $119.21 21%
QSR-TRESTAURANT BRANDS INTERNATIONAL INC $72.78 16113 $86.03 18%
GIL-TGILDAN ACTIVEWEAR INC $48.46 1112 $57.02 18%
DOL-TDOLLARAMA INC $64.29 1030 $66.39 3%
Consumer Staples
PRMW-TPRIMO WATER CORP $19.92 1020 $27.18 36%
MFI-TMAPLE LEAF FOODS INC $32.31 600 $42.17 31%
PBH-TPREMIUM BRANDS HOLDINGS CORP $121.83 820 $155.60 28%
JWEL-TJAMIESON WELLNESS INC $34.43 820 $43.92 28%
WN-TWESTON (GEORGE) LTD $137.93 620 $159.38 16%
ATD-TALIMENTATION COUCHE-TARD INC $49.66 1140 $57.29 15%
EMP-A-TEMPIRE CO LTD $39.43 720 $45.44 15%
SAP-TSAPUTO INC $30.97 711 $35.39 14%
NWC-TNORTH WEST CO INC $35.21 140 $39.20 11%
L-TLOBLAW COMPANIES LTD $98.17 741 $106.00 8%
MRU-TMETRO INC $66.93 380 $69.00 3%
Energy
NXE-TNEXGEN ENERGY LTD $5.28 1110 $9.57 81%
DML-TDENISON MINES CORP $1.50 621 $2.65 77%
AAV-TADVANTAGE ENERGY LTD $6.00 1220 $9.56 59%
BIR-TBIRCHCLIFF ENERGY LTD $6.28 1420 $9.77 56%
PKI-TPARKLAND CORP $33.67 1330 $49.53 47%
CCO-TCAMECO CORP $25.83 1130 $36.54 41%
PEY-TPEYTO EXPLORATION & DEV CORP $10.01 740 $14.00 40%
TOU-TTOURMALINE OIL CORP $46.13 1500 $64.36 40%
PXT-TPAREX RESOURCES INC $26.68 1000 $36.95 38%
ARX-TARC RESOURCES LTD $14.40 1600 $19.93 38%
TVE-TTAMARACK VALLEY ENERGY LTD $4.71 1220 $6.41 36%
CPG-TCRESCENT POINT ENERGY CORP $8.24 1130 $10.95 33%
SES-TSECURE ENERGY SERVICES INC $5.98 1200 $7.94 33%
WCP-TWHITECAP RESOURCES INC $9.13 1410 $12.08 32%
POU-TPARAMOUNT RESOURCES LTD $24.42 730 $31.50 29%
TPZ-TTOPAZ ENERGY CORP $18.76 1500 $24.02 28%
ERF-TENERPLUS CORP $14.81 1220 $18.93 28%
EFR-TENERGY FUELS INC $7.95 600 $10.06 27%
FRU-TFREEHOLD ROYALTIES LTD $13.20 1320 $16.68 26%
PSK-TPRAIRIESKY ROYALTY LTD $16.64 780 $20.18 21%
CVE-TCENOVUS ENERGY INC $19.60 2000 $23.65 21%
SU-TSUNCOR ENERGY INC $37.06 1490 $44.16 19%
MEG-TMEG ENERGY CORP $15.72 961 $18.17 16%
BTE-TBAYTEX ENERGY CORP $4.84 390 $5.52 14%
KEY-TKEYERA CORP $30.03 1060 $33.88 13%
ENB-TENBRIDGE INC $52.55 14110 $56.92 8%
CNQ-TCANADIAN NATURAL RESOURCES LTD $66.19 1770 $70.22 6%
GEI-TGIBSON ENERGY INC $24.11 592 $25.22 5%
PPL-TPEMBINA PIPELINE CORP $42.23 8101 $43.97 4%
IMO-TIMPERIAL OIL LTD $55.40 5131 $57.68 4%
VET-TVERMILION ENERGY INC $21.72 771 $22.30 3%
TRP-TTC ENERGY CORP $66.81 8142 $68.31 2%
Financials
CF-TCANACCORD GENUITY GROUP INC $13.25 300 $21.33 61%
GSY-TGOEASY LTD $146.95 710 $230.88 57%
TSU-TTRISURA GROUP LTD $37.69 700 $59.21 57%
CIX-TCI FINANCIAL CORP $21.80 820 $31.60 45%
ONEX-TONEX CORPORATION $87.37 410 $120.40 38%
HCG-THOME CAPITAL GROUP INC $37.74 620 $51.50 36%
BAM-A-TBROOKFIELD ASSET MANAGEMENT INC $67.91 940 $88.89 31%
EFN-TELEMENT FLEET MANAGEMENT CORP $12.39 540 $15.85 28%
EQB-TEQUITABLE GROUP INC $76.68 800 $97.83 28%
ECN-TECN CAPITAL CORP $5.81 810 $7.25 25%
FFH-TFAIRFAX FINANCIAL HLDGS LTD $645.67 520 $798.62 24%
IGM-TIGM FINANCIAL INC $44.71 441 $55.22 24%
SII-TSPROTT INC $48.83 120 $57.83 18%
X-TTMX GROUP LTD $124.83 250 $146.86 18%
MFC-TMANULIFE FINANCIAL CORP $26.90 961 $31.64 18%
POW-TPOWER CORP OF CANADA $40.29 270 $47.38 18%
IAG-TIA FINANCIAL CORP INC $79.17 900 $90.94 15%
SLF-TSUN LIFE FINANCIAL INC $67.68 860 $77.27 14%
IFC-TINTACT FINANCIAL CORP $183.61 1200 $208.33 13%
CWB-TCANADIAN WESTERN BANK $38.30 1030 $42.91 12%
BMO-TBANK OF MONTREAL $146.48 940 $160.02 9%
GWO-TGREAT-WEST LIFECO INC $39.03 280 $42.30 8%
LB-TLAURENTIAN BANK OF CANADA $43.14 181 $46.60 8%
NA-TNATIONAL BANK OF CANADA $101.64 272 $106.91 5%
RY-TROYAL BANK OF CANADA $141.05 942 $147.65 5%
BNS-TBANK OF NOVA SCOTIA $91.87 931 $95.84 4%
CM-TCAN IMPERIAL BK OF COMMERCE $160.61 1041 $167.42 4%
TD-TTORONTO-DOMINION BANK $106.23 851 $107.49 1%
Health Care
WELL-TWELL HEALTH TECHNOLOGIES CORP $4.28 1300 $10.98 157%
CRON-TCRONOS GROUP INC $4.49 383 $7.71 72%
TLRY-TTILRAY BRANDS INC $8.12 3153 $11.61 43%
BHC-TBAUSCH HEALTH COS INC $30.54 741 $42.03 38%
WEED-TCANOPY GROWTH CORP $9.80 2108 $12.26 25%
ACB-TAURORA CANNABIS INC $5.26 095 $6.33 20%
CSH-UN-TCHARTWELL RETIREMENT RESIDENCES $12.27 610 $14.05 15%
SIA-TSIENNA SENIOR LIVING INC $15.29 450 $16.69 9%
Industrials
LEV-TLION ELECTRIC CO $10.30 621 $20.41 98%
BLDP-TBALLARD POWER SYSTEMS INC $12.26 9132 $19.63 60%
GFL-TGFL ENVIRONMENTAL INC $36.42 1011 $54.97 51%
BBD-B-TBOMBARDIER INC $1.62 953 $2.43 50%
SNC-TSNC-LAVALIN GROUP INC $28.61 1310 $41.73 46%
BYD-TBOYD GROUP SERVICES INC $162.05 670 $235.33 45%
NFI-TNFI GROUP INC $19.03 521 $27.19 43%
BBU-UN-TBROOKFIELD BUSINESS PARTNERS LP $54.50 800 $77.12 42%
CJT-TCARGOJET INC $179.97 1210 $244.22 36%
RBA-TRITCHIE BROS AUCTIONEERS INC $65.43 281 $88.37 35%
ATA-TATS AUTOMATION TOOLING SYSTEMS INC $48.57 600 $65.08 34%
WSP-TWSP GLOBAL INC $149.99 1130 $197.00 31%
LWRK-TLIFEWORKS INC $27.46 510 $35.63 30%
ARE-TAECON GROUP INC $17.28 1030 $22.04 28%
CAE-TCAE INC $32.44 821 $39.64 22%
BDGI-TBADGER INFRASTRUCTURE SOLUTIONS LTD $30.00 431 $36.42 21%
MTL-TMULLEN GROUP LTD $12.62 920 $15.27 21%
RUS-TRUSSEL METALS INC $32.24 330 $39.00 21%
STN-TSTANTEC INC $65.55 930 $78.96 20%
TFII-TTFI INTERNATIONAL INC $130.44 1630 $156.90 20%
FTT-TFINNING INTERNATIONAL INC $37.57 810 $44.88 19%
WCN-TWASTE CONNECTIONS INC $154.35 1611 $183.50 19%
EIF-TEXCHANGE INCOME CORP $44.46 920 $52.73 19%
TRI-TTHOMSON REUTERS CORP $127.80 781 $149.13 17%
TIH-TTOROMONT INDUSTRIES LTD $107.93 720 $124.22 15%
AC-TAIR CANADA $25.40 1260 $29.17 15%
RCH-TRICHELIEU HARDWARE LTD $49.60 320 $56.86 15%
CP-TCANADIAN PACIFIC RAILWAY LTD $92.33 1891 $105.28 14%
WTE-TWESTSHORE TERMINALS INVESTMENT CORP $27.97 140 $30.40 9%
CNR-TCANADIAN NATL RAILWAY CO $159.13 10202 $169.07 6%
Information Technology
HUT-THUT 8 MINING CORP $7.58 400 $21.57 185%
DND-TDYE & DURHAM LTD $28.55 410 $62.80 120%
LSPD-TLIGHTSPEED COMMERCE INC $33.93 1611 $69.45 105%
NVEI-TNUVEI CORP $67.65 1220 $134.64 99%
DCBO-TDOCEBO INC $63.08 1010 $108.59 72%
SHOP-TSHOPIFY INC $837.00 27191 $1,429.68 71%
TIXT-TTELUS INTERNATIONAL CDA INC $30.76 1131 $47.63 55%
KXS-TKINAXIS INC $150.99 1100 $227.17 50%
ENGH-TENGHOUSE SYSTEMS LTD $40.62 410 $60.63 49%
OTEX-TOPEN TEXT CORP $54.51 910 $74.27 36%
CTS-TCONVERGE TECHNOLOGY SOLUTION $10.14 1020 $13.65 35%
DSG-TDESCARTES SYSTEMS GRP $88.17 1140 $113.08 28%
CSU-TCONSTELLATION SOFTWARE INC $2,058.83 720 $2,545.00 24%
BB-TBLACKBERRY LTD $8.49 035 $10.22 20%
GIB-A-TCGI INC $105.52 1322 $126.06 19%
CLS-TCELESTICA INC $15.74 281 $16.27 3%
Materials
NG-TNOVAGOLD RESOURCES INC $8.95 120 $19.47 118%
SVM-TSILVERCORP METALS INC $4.54 520 $7.71 70%
OSK-TOSISKO MINING INC $3.94 1100 $6.28 59%
ITP-TINTERTAPE POLYMER GROUP INC $24.35 900 $38.67 59%
TXG-TTOREX GOLD RESOURCES INC $15.51 640 $24.22 56%
K-TKINROSS GOLD CORP $7.42 1510 $11.40 54%
CFP-TCANFOR CORP $29.20 700 $44.82 53%
DPM-TDUNDEE PRECIOUS METALS INC $7.97 900 $12.22 53%
SEA-TSEABRIDGE GOLD INC $21.47 400 $32.62 52%
BTO-TB2GOLD CORP $5.22 1411 $7.71 48%
KNT-TK92 MINING INC $7.80 1300 $11.29 45%
OGC-TOCEANAGOLD CORP $2.15 721 $3.11 45%
ERO-TERO COPPER CORP $17.68 920 $25.50 44%
STLC-TSTELCO HOLDINGS INC $35.57 521 $50.69 43%
OR-TOSISKO GOLD ROYALTIES LTD $15.74 1410 $22.29 42%
EQX-TEQUINOX GOLD CORP $8.36 830 $11.65 39%
LAC-TLITHIUM AMERICAS CORP $34.71 1120 $48.29 39%
CAS-TCASCADES INC $12.62 430 $17.50 39%
EDR-TENDEAVOUR SILVER CORP $5.15 460 $7.13 38%
CS-TCAPSTONE MINING CORP $5.95 900 $8.14 37%
SSL-TSANDSTORM GOLD LTD $8.69 741 $11.75 35%
SIL-TSILVERCREST METALS INC $11.01 800 $14.79 34%
IFP-TINTERFOR CORP $38.28 600 $51.17 34%
HBM-THUDBAY MINERALS INC $9.90 1710 $13.15 33%
PAAS-TPAN AMERICAN SILVER CORP $30.50 820 $40.49 33%
AEM-TAGNICO EAGLE MINES LTD $70.09 1740 $92.77 32%
SSRM-TSSR MINING INC $23.58 1110 $31.03 32%
MAG-TMAG SILVER CORP $20.09 740 $26.42 32%
YRI-TYAMANA GOLD INC $6.25 1440 $8.18 31%
TCL-A-TTRANSCONTINENTAL INC $20.41 420 $26.50 30%
SJ-TSTELLA-JONES INC $40.55 710 $52.58 30%
AGI-TALAMOS GOLD INC $9.34 761 $12.10 30%
CCL-B-TCCL INDUSTRIES INC $62.89 910 $81.29 29%
WFG-TWEST FRASER TIMBER CO LTD $123.19 600 $156.04 27%
IVN-TIVANHOE MINES LTD $11.12 830 $14.06 26%
FVI-TFORTUNA SILVER MINES INC $4.64 340 $5.84 26%
WPM-TWHEATON PRECIOUS METALS CORP $55.49 1620 $68.82 24%
WPK-TWINPAK LTD $37.60 220 $46.50 24%
FR-TFIRST MAJESTIC SILVER CORP $14.85 430 $18.34 24%
ELD-TELDORADO GOLD CORP $13.95 651 $16.78 20%
FM-TFIRST QUANTUM MINERALS LTD $33.95 2041 $38.60 14%
ABX-TBARRICK GOLD CORP $29.53 1980 $32.51 10%
NTR-TNUTRIEN LTD $96.69 1841 $105.46 9%
LUN-TLUNDIN MINING CORP $11.66 7121 $12.72 9%
MX-TMETHANEX CORP $61.07 752 $65.99 8%
TECK-B-TTECK RESOURCES LTD $45.30 1941 $48.11 6%
CG-TCENTERRA GOLD INC $11.39 451 $12.07 6%
FNV-TFRANCO-NEVADA CORP $188.61 1371 $199.93 6%
WDO-TWESDOME GOLD MINES LTD $13.79 830 $14.55 5%
IMG-TIAMGOLD CORP $4.03 472 $4.21 4%
PVG-TPRETIUM RESOURCES INC $18.04 140 $18.50 3%
NGD-TNEW GOLD INC $2.51 2101 $2.42 -4%
LIF-TLABRADOR IRON ORE ROYALTY CORP $43.18 250 $41.00 -5%
TRQ-TTURQUOISE HILL RESOURCES LTD $26.03 422 $24.55 -6%
Real Estate
AIF-TALTUS GROUP LTD $50.43 620 $75.00 49%
FSV-TFIRSTSERVICE CORP $175.97 230 $229.14 30%
PMZ-UN-TPRIMARIS REIT $13.75 200 $17.50 27%
IIP-UN-TINTERRENT REIT $15.74 911 $19.93 27%
CAR-UN-TCAN APARTMENT PROPERTIES REIT $54.76 1120 $69.08 26%
GRT-UN-TGRANITE REIT $90.77 1100 $111.86 23%
KMP-UN-TKILLAM APARTMENT REIT $21.45 1010 $26.05 21%
HR-UN-TH&R REIT $12.80 520 $15.50 21%
DIR-UN-TDREAM INDUSTRIAL REIT $16.29 900 $19.53 20%
SMU-UN-TSUMMIT INDUSTRIAL INCOME REIT $21.45 730 $25.44 19%
FCR-UN-TFIRST CAPITAL REIT $18.52 520 $21.71 17%
AP-UN-TALLIED PROPERTIES REIT $43.39 1110 $50.75 17%
CIGI-TCOLLIERS INTERNATIONAL GROUP $188.88 610 $219.75 16%
BEI-UN-TBOARDWALK REIT $54.28 451 $62.86 16%
CRR-UN-TCROMBIE REIT $17.12 540 $19.66 15%
CHP-UN-TCHOICE PROPERTIES REIT $14.38 170 $16.17 12%
TCN-TTRICON RESIDENTIAL INC $18.67 1020 $20.86 12%
NWH-UN-TNORTHWEST HEALTHCARE PROPERTIES REIT $13.34 330 $14.85 11%
CRT-UN-TCT REIT $17.02 340 $18.82 11%
REI-UN-TRIOCAN REIT $24.74 900 $26.53 7%
SRU-UN-TSMARTCENTRES REIT $31.43 350 $33.44 6%
D-UN-TDREAM OFFICE REIT $25.45 630 $26.71 5%
CUF-UN-TCOMINAR REIT $11.64 030 $11.75 1%
AX-UN-TARTIS REIT $13.02 160 $12.67 -3%
Utilities
SPB-TSUPERIOR PLUS CORP $11.28 570 $15.67 39%
BLX-TBORALEX INC $32.51 1030 $43.75 35%
TA-TTRANSALTA CORP $13.08 1111 $16.36 25%
NPI-TNORTHLAND POWER INC $36.93 1220 $45.45 23%
INE-TINNERGEX RENEWABLE ENERGY $17.50 331 $21.42 22%
BEP-UN-TBROOKFIELD RENEWABLE PARTNERS LP $43.55 1151 $50.82 17%
ACO-X-TATCO LTD $41.84 521 $48.55 16%
AQN-TALGONQUIN POWER & UTILITIES $17.75 752 $20.47 15%
CPX-TCAPITAL POWER CORP $39.47 580 $45.21 15%
RNW-TTRANSALTA RENEWABLES INC $16.66 2101 $19.04 14%
ALA-TALTAGAS LTD $27.62 1500 $31.10 13%
BIP-UN-TBROOKFIELD INFRASTRUCTURE PARTNERS LP $76.25 1021 $83.91 10%
CU-TCANADIAN UTILITIES LTD $34.98 350 $38.00 9%
EMA-TEMERA INC $58.80 5102 $61.91 5%
H-THYDRO ONE LTD $31.27 581 $32.73 5%
FTS-TFORTIS INC $57.76 1133 $59.07 2%

Source: Bloomberg

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