Canada research roundup: Aritzia, Elemental Royalty, Manulife Financial
MFC•Analysts raised price targets for Aritzia and Sun Life Financial, resumed coverage of Elemental Royalty with an outperform rating, and cut Manulife Financial to sector perform from sector outperform.
1. Analyst actions
Ventum Financial raised its Aritzia target to C$173 from C$160, while TD Cowen raised its target to C$190 from C$175. National Bank of Canada resumed coverage of Elemental Royalty with an outperform rating and a C$38 target. Scotiabank cut Manulife Financial to sector perform from sector outperform and raised Sun Life Financial’s target to C$122 from C$118, also upgrading it to sector outperform from sector perform.
2. Other revisions
The roundup also included target increases for companies including BCE, CAE, Fortis and PrairieSky Royalty, and reductions for NFI Group and WSP Global.
