Canada research roundup: Aurora Cannabis, Fortis and Toromont Industries
ACB•Analysts revised ratings and price targets for Canadian companies. TD Cowen cut Aurora Cannabis to sell from buy, CIBC raised Fortis’s target to C$85 from C$81, and CIBC upgraded Toromont Industries to outperformer from neutral.
1. Analyst actions
TD Cowen cut its rating on Aurora Cannabis to sell from buy and lowered its price target to C$7.80 from C$8.00. Fortis received several target increases, including CIBC’s move to C$85 from C$81; Raymond James raised its target to C$86.50 from C$85.50, while RBC and TD Cowen each raised theirs to C$90.
2. Other changes
CIBC upgraded Toromont Industries to outperformer from neutral and raised its target to C$256 from C$242. Analysts also made rating and target changes for companies including Ivanhoe Mines, Wajax, Element Fleet Management, Gibson Energy and Shopify.
