Analyst Upgrades and Downgrades for Friday

On this Friday, the financial markets witnessed significant analyst actions affecting several companies. Major downgrades and target revisions were notable as firms reacted to varying growth prospects and economic conditions.

Analyst Upgrades and Downgrades Overview

Arc Resources Ltd. (ARX-T)

• Downgraded by National Bank Financial’s Travis Wood from “outperform” to “sector perform.”
• Adjusted target price to $26, previous guidance at $29.
• Concerns raised over unclear future capital allocation and lack of growth catalysts following weak performance at the Attachie asset.
• Expected production target set between 405 and 420 mboe/d for 2026, though asset-level guidance for Attachie has been removed.

Thomson Reuters Corp. (TRI-Q, TRI-T)

• Report by RBC Dominion Securities analyst Drew McReynolds maintained a “sector perform” rating.
• Target price decreased from $155 to $126 amid concerns over AI disruption affecting valuations.
• Despite maintaining a positive long-term outlook, McReynolds highlighted a disconnect between public market valuations and intrinsic values.

Lightspeed Commerce Inc. (LSPD-N, LSPD-T)

• TD Cowen’s John Shao downgraded the company’s target from $15 to $11, maintaining a “hold” rating.
• The company reported $312.3 million in revenue for the quarter, marking an 11.5% increase year-over-year.
• Despite positive growth indicators, shares fell 7.3% due to broader tech sector sell-offs.

MDA Space Ltd. (MDA-T)

• Target price increased from $39 to $48 by Desjardins Securities’ Benoit Poirier after positive news regarding SpaceX’s new mobile device initiative.
• The analyst’s outlook is based on the strategic potential of MDA’s projects and improving market visibility.

Uranium Sector

• National Bank Financial’s Mohamed Sidibé upgraded target prices for several uranium stocks, including Cameco Corp. (CCO-T) to $175 from $145.
• The increase reflects a favorable market position driven by rising uranium prices and demand stability.

Other Notable Changes

• Canada Goose Holdings Inc. (GOOS-N, GOOS-T) downgraded to “underweight” from “equal-weight” by Barclays.
• Methanex Corp. (MEOH-Q, MX-T) downgraded to “neutral” from “outperform” by CIBC.
• Rogers Sugar Inc. (RSI-T) downgraded to “sector underperform” by Scotia.
• New coverage on NovaGold Resources Inc. (NG-T) initiated with a “sector outperform” rating by Scotia.

These analyst actions reflect a cautious sentiment across several sectors, particularly concerning growth projections and market dynamics. Investors should keep an eye on further developments as earnings reports and market conditions evolve.