Equities research analysts have updated their earnings per share (EPS) estimates for several notable Canadian companies as of November 28, 2023. These revisions reflect analysts’ assessments of market conditions and company performance, informing investors about potential stock movements.
Alamos Gold Inc. (TSE:AGI) (NYSE:AGI) received a target price of C$64.00 from analysts at Desjardins, who maintain a buy rating on the stock. This optimistic outlook aligns with the company’s recent operational performance and broader trends in the gold sector.
In a positive shift, Canadian National Railway (TSE:CNR) (NYSE:CNI) has been upgraded by CIBC from a neutral rating to outperform. Their new target price stands at C$151.00, an increase from the previous target of C$146.00, reflecting increased confidence in the railway’s growth prospects.
Conversely, Goodfood Market (TSE:FOOD) saw its target price revised downwards by Desjardins, from C$0.30 to C$0.25. The firm currently holds a hold rating, indicating a cautious approach amid a competitive landscape in the meal kit industry.
Analysts at Desjardins also set a target price of C$44.00 for Kinross Gold Corporation (TSE:K) (NYSE:KGC), maintaining a buy rating. This suggests continued optimism regarding the company’s operational strategy and market position.
Additionally, K92 Mining Inc. (KNT.V) (CVE:KNT) received a target price of C$26.00, with Desjardins also issuing a buy rating. The positive sentiment reflects the company’s ongoing developments in the mining sector.
In another favorable assessment, OceanaGold (TSE:OGC) was given a target price of C$50.00 by Desjardins, which also maintains a buy rating. This estimate highlights the company’s potential in the gold mining industry.
Turning to Rogers Sugar (TSE:RSI), analysts at National Bankshares, Inc. raised their price target from C$6.25 to C$7.00, continuing to hold a sector perform rating. Additionally, BMO Capital Markets also increased its target for Rogers Sugar from C$6.50 to C$7.00, supporting a market perform rating. However, analysts at TD Securities downgraded the stock from buy to hold, maintaining the same target price of C$7.00.
Lastly, Saputo (TSE:SAP) saw its target price raised by TD Securities from C$44.00 to C$49.00, with a buy rating still in place. This reflects positive market conditions for dairy products and the company’s operational enhancements.
These updates provide crucial insights for investors navigating the Canadian equity market, highlighting both opportunities and cautions across various sectors.
