Equities research analysts have made significant updates to their earnings per share (EPS) estimates for several Canadian companies as of November 28. Notably, these adjustments reflect shifts in market confidence and projected performance for various sectors, particularly mining and food services.
Key Adjustments from Analysts
For **Alamos Gold** (TSE:AGI) (NYSE:AGI), analysts at **Desjardins** have set a target price of **C$64.00** and maintain a strong buy rating. This target suggests confidence in the company’s growth potential in the gold mining sector. Similarly, **Canadian National Railway** (TSE:CNR) (NYSE:CNI) received an upgrade from **CIBC**, moving from a neutral rating to outperform. The new price target is **C$151.00**, an increase from the previous **C$146.00**.
In the food sector, **Goodfood Market** (TSE:FOOD) saw its target price reduced by Desjardins from **C$0.30** to **C$0.25**, with the firm maintaining a hold rating. This adjustment indicates a cautious approach amidst fluctuating consumer demand.
In the mining sector, **Kinross Gold** (TSE:K) (NYSE:KGC) was assigned a target price of **C$44.00** by Desjardins, which aligns with the firm’s buy rating, suggesting positive expectations for the company’s performance. **K92 Mining Inc.** (KNT.V) (CVE:KNT) also received a buy rating with a target price of **C$26.00** from Desjardins.
Notable Movements in Sugar and Dairy Sectors
**OceanaGold** (TSE:OGC) has been given a target price of **C$50.00**, maintaining a buy rating from Desjardins as well. This reflects confidence in the company’s operational stability and future growth.
**Rogers Sugar** (TSE:RSI) experienced a mix of ratings changes. **National Bankshares, Inc.** increased its price target from **C$6.25** to **C$7.00**, maintaining a sector perform rating. In contrast, **BMO Capital Markets** also raised its price target for Rogers Sugar from **C$6.50** to **C$7.00**, retaining a market perform rating. However, **TD Securities** downgraded the stock from buy to hold, setting a price target of **C$7.00**, indicating a more cautious outlook.
Lastly, **Saputo** (TSE:SAP) saw its target price rise from **C$44.00** to **C$49.00**, with TD Securities reaffirming a buy rating, reflecting positive sentiment toward the dairy company’s financial health.
These updates underscore a dynamic landscape for Canadian equities as analysts respond to market conditions and company performances. Investors are advised to consider these ratings and target prices in their decision-making processes.
