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We are approaching the halfway mark for 2022, and it has been quite a volatile year for equity markets so far.

Year-to-date, the S&P/TSX Composite Index is down 4.5 per cent with the Index now trading near trough levels on a forward price-to-earnings (P/E) basis. According to Bloomberg, the S&P/TSX Composite Index is trading at a forward P/E multiple of 12.1 times, well below its 10-year historical average of 14.4 times. The multiple has compressed rapidly since the start of the year.

To help investors navigate this challenging market, this report includes a link to a list of analysts’ target prices, recommendations, and forecast returns for all securities in the S&P/TSX Composite Index grouped by sector and ranked according to their expected price returns (excluding dividend and distribution income). The posted target price for each security is an average of all available target prices from analysts. A target price typically reflect an expected share or unit price 12 months from now based on an analyst’s financial modelling, such as a discounted cash flow or sum-of-the-parts model. All data is as of the close on Fri. June 10.

It’s important to note that high target prices which imply stellar returns that seem unbelievable may be just that - unrealistic. At times, when a stock price falls analysts may maintain their bullish expectations, inflating the forecast return. In addition, an outlier (extreme target price) can skew the average target price, to the upside or downside, particularly when the number of analysts covering a stock is low. Don’t let a huge projected gain lure you into a position – it is critical to look at the company and industry fundamentals.

Click here to download an Excel version of the guide.

SecurityPriceBuysHoldsSellsAvg. Target PriceForecast Price Return
10-Jun
Communication Services
CJR-B-TCORUS ENTERTAINMENT INC $4.21 710 $7.34 74%
CCA-TCOGECO COMMUNICATIONS INC $97.47 541 $128.00 31%
RCI-B-TROGERS COMMUNICATIONS INC $61.29 1051 $78.52 28%
QBR-B-TQUEBECOR INC $27.17 1021 $34.50 27%
T-TTELUS CORP $30.36 1070 $34.58 14%
SJR-B-TSHAW COMMUNICATIONS INC $35.29 550 $39.36 12%
BCE-TBCE INC $67.11 4121 $69.56 4%
Consumer Discretionary
ATZ-TARITZIA INC $35.75 710 $67.45 89%
DOO-TBRP INC $81.28 1810 $134.69 66%
GIL-TGILDAN ACTIVEWEAR INC $37.33 1120 $60.87 63%
MRE-TMARTINREA INTERNATIONAL INC $9.00 540 $13.53 50%
ZZZ-TSLEEP COUNTRY CANADA HOLDINGS INC $25.50 520 $38.00 49%
TOY-TSPIN MASTER CORP $43.04 1010 $62.82 46%
GOOS-TCANADA GOOSE HOLDINGS INC $25.54 943 $36.73 44%
PLC-TPARK LAWN CORP $33.03 900 $46.31 40%
MTY-TMTY FOOD GROUP INC $50.70 340 $69.14 36%
LNR-TLINAMAR CORP $56.25 410 $76.00 35%
CTC-A-TCANADIAN TIRE CORP $166.72 911 $223.00 34%
MG-TMAGNA INTERNATIONAL INC $78.33 1641 $101.25 29%
QSR-TRESTAURANT BRANDS INTERNATIONAL INC $64.05 14123 $82.02 28%
DOL-TDOLLARAMA INC $71.43 1050 $79.31 11%
Consumer Staples
MFI-TMAPLE LEAF FOODS INC $27.21 600 $40.33 48%
PBH-TPREMIUM BRANDS HOLDINGS CORP $94.83 520 $137.86 45%
PRMW-TPRIMO WATER CORP $17.41 1110 $24.75 42%
SAP-TSAPUTO INC $26.95 720 $34.25 27%
JWEL-TJAMIESON WELLNESS INC $36.12 810 $45.06 25%
EMP-A-TEMPIRE CO LTD $40.88 720 $48.25 18%
WN-TWESTON (GEORGE) LTD $150.05 620 $174.29 16%
ATD-TALIMENTATION COUCHE-TARD INC $54.70 1330 $61.07 12%
NWC-TNORTH WEST CO INC $35.65 140 $39.25 10%
MRU-TMETRO INC $69.12 371 $72.82 5%
L-TLOBLAW COMPANIES LTD $114.93 741 $119.82 4%
Energy
DML-TDENISON MINES CORP $1.54 710 $3.29 114%
EFR-TENERGY FUELS INC $8.07 700 $14.77 83%
NXE-TNEXGEN ENERGY LTD $5.95 1200 $9.82 65%
PXT-TPAREX RESOURCES INC $28.82 1100 $42.25 47%
HWX-THEADWATER EXPLORATION INC $7.53 900 $10.53 40%
CCO-TCAMECO CORP $32.62 1300 $44.83 37%
TVE-TTAMARACK VALLEY ENERGY LTD $6.22 1210 $8.14 31%
SES-TSECURE ENERGY SERVICES INC $7.07 1200 $8.91 26%
WCP-TWHITECAP RESOURCES INC $12.03 1310 $15.09 25%
PKI-TPARKLAND CORP $38.58 1320 $48.36 25%
FRU-TFREEHOLD ROYALTIES LTD $16.14 1220 $20.14 25%
VET-TVERMILION ENERGY INC $29.64 671 $36.96 25%
TPZ-TTOPAZ ENERGY CORP $23.70 1400 $29.07 23%
AAV-TADVANTAGE ENERGY LTD $11.06 1220 $13.50 22%
PSK-TPRAIRIESKY ROYALTY LTD $19.17 680 $23.36 22%
ERF-TENERPLUS CORP $22.49 1210 $26.89 20%
NVA-TNUVISTA ENERGY LTD $13.47 850 $15.85 18%
CNQ-TCANADIAN NATURAL RESOURCES LTD $82.83 1290 $94.96 15%
ARX-TARC RESOURCES LTD $21.23 1500 $24.30 14%
CPG-TCRESCENT POINT ENERGY CORP $13.13 1120 $14.92 14%
TOU-TTOURMALINE OIL CORP $75.58 1210 $84.89 12%
PEY-TPEYTO EXPLORATION & DEV CORP $15.85 640 $17.80 12%
BIR-TBIRCHCLIFF ENERGY LTD $11.85 1220 $13.20 11%
MEG-TMEG ENERGY CORP $23.44 860 $26.00 11%
CVE-TCENOVUS ENERGY INC $30.05 1800 $32.33 8%
SU-TSUNCOR ENERGY INC $52.78 1270 $56.42 7%
IMO-TIMPERIAL OIL LTD $69.19 5121 $73.82 7%
POU-TPARAMOUNT RESOURCES LTD $39.05 730 $41.65 7%
KEY-TKEYERA CORP $34.33 1050 $36.43 6%
ENB-TENBRIDGE INC $58.23 12110 $61.40 5%
PPL-TPEMBINA PIPELINE CORP $51.62 1071 $52.29 1%
TRP-TTC ENERGY CORP $72.62 7124 $72.11 -1%
BTE-TBAYTEX ENERGY CORP $8.82 380 $8.66 -2%
GEI-TGIBSON ENERGY INC $27.51 492 $26.36 -4%
Financials
GSY-TGOEASY LTD $104.55 810 $204.22 95%
CF-TCANACCORD GENUITY GROUP INC $10.13 300 $16.83 66%
HCG-THOME CAPITAL GROUP INC $28.75 710 $45.00 57%
TSU-TTRISURA GROUP LTD $34.10 700 $52.43 54%
ONEX-TONEX CORPORATION $73.23 410 $107.40 47%
CIX-TCI FINANCIAL CORP $14.95 630 $21.83 46%
BAM-A-TBROOKFIELD ASSET MANAGEMENT INC $60.28 1110 $87.48 45%
EQB-TEQB INC $58.19 800 $84.33 45%
CWB-TCANADIAN WESTERN BANK $28.46 1030 $37.12 30%
IAG-TIA FINANCIAL CORP INC $63.42 810 $82.56 30%
FFH-TFAIRFAX FINANCIAL HLDGS LTD $665.93 520 $866.61 30%
IGM-TIGM FINANCIAL INC $37.08 521 $47.75 29%
SII-TSPROTT INC $48.27 020 $60.50 25%
POW-TPOWER CORP OF CANADA $35.07 360 $42.72 22%
GWO-TGREAT-WEST LIFECO INC $32.32 271 $38.90 20%
ECN-TECN CAPITAL CORP $6.28 810 $7.50 19%
MFC-TMANULIFE FINANCIAL CORP $22.79 691 $27.14 19%
CM-TCAN IMPERIAL BK OF COMMERCE $67.33 1141 $78.92 17%
BMO-TBANK OF MONTREAL $131.48 1230 $153.87 17%
EFN-TELEMENT FLEET MANAGEMENT CORP $13.60 630 $15.72 16%
IFC-TINTACT FINANCIAL CORP $181.08 1301 $208.14 15%
SLF-TSUN LIFE FINANCIAL INC $61.17 861 $69.97 14%
NA-TNATIONAL BANK OF CANADA $92.72 742 $104.85 13%
RY-TROYAL BANK OF CANADA $128.55 1142 $144.02 12%
X-TTMX GROUP LTD $135.17 340 $151.29 12%
LB-TLAURENTIAN BANK OF CANADA $42.00 192 $46.73 11%
TD-TTORONTO-DOMINION BANK $91.62 4111 $101.50 11%
BNS-TBANK OF NOVA SCOTIA $81.94 681 $90.43 10%
Health Care
BHC-TBAUSCH HEALTH COS INC $10.25 621 $29.62 189%
TLRY-TTILRAY BRANDS INC $4.35 4133 U.S.$8.46 150%
WELL-TWELL HEALTH TECHNOLOGIES CORP $3.61 1210 $8.73 142%
ACB-TAURORA CANNABIS INC $1.77 193 $3.51 98%
CRON-TCRONOS GROUP INC $3.47 481 $6.20 79%
WEED-TCANOPY GROWTH CORP $4.64 2711 $6.07 31%
SIA-TSIENNA SENIOR LIVING INC $13.08 530 $16.78 28%
CSH-UN-TCHARTWELL RETIREMENT RESIDENCES $11.39 600 $14.38 26%
Industrials
BBD-B-TBOMBARDIER INC $1.13 1232 $2.37 110%
LEV-TLION ELECTRIC COMPANY $6.55 640 U.S.$10.05 96%
SNC-TSNC-LAVALIN GROUP INC $23.60 1310 $38.71 64%
BBU-UN-TBROOKFIELD BUSINESS PARTNERS LP $29.42 710 $47.97 63%
CJT-TCARGOJET INC $152.65 1020 $236.08 55%
ATA-TATS AUTOMATION TOOLING SYSTEMS INC $36.05 600 $55.50 54%
LWRK-TLIFEWORKS INC $17.47 320 $25.80 48%
GFL-TGFL ENVIRONMENTAL INC $36.38 1211 $53.32 47%
AC-TAIR CANADA $20.25 1250 $29.38 45%
TFII-TTFI INTERNATIONAL INC $98.41 1630 $138.73 41%
BYD-TBOYD GROUP SERVICES INC $130.48 940 $183.69 41%
FTT-TFINNING INTERNATIONAL INC $32.70 810 $45.33 39%
RUS-TRUSSEL METALS INC $29.96 520 $41.36 38%
ARE-TAECON GROUP INC $14.71 940 $19.83 35%
RCH-TRICHELIEU HARDWARE LTD $37.74 210 $49.83 32%
MTL-TMULLEN GROUP LTD $12.13 820 $15.90 31%
STN-TSTANTEC INC $56.30 1020 $72.83 29%
CAE-TCAE INC $31.23 830 $40.32 29%
BLDP-TBALLARD POWER SYSTEMS INC $8.64 9132 $10.95 27%
WSP-TWSP GLOBAL INC $143.03 1220 $179.43 25%
EIF-TEXCHANGE INCOME CORP $46.88 1100 $58.50 25%
TIH-TTOROMONT INDUSTRIES LTD $106.35 720 $128.44 21%
CP-TCANADIAN PACIFIC RAILWAY LTD $89.10 17111 $106.38 19%
TRI-TTHOMSON REUTERS CORP $124.80 871 $147.90 19%
CNR-TCANADIAN NATL RAILWAY CO $140.66 11192 $166.00 18%
BDGI-TBADGER INFRASTRUCTURE SOLUTIONS LTD $30.93 531 $34.47 11%
NFI-TNFI GROUP INC $13.03 242 $13.94 7%
WCN-TWASTE CONNECTIONS INC $157.83 1422 $160.00 1%
WTE-TWESTSHORE TERMINALS INVESTMENT COPR $32.60 140 $32.80 1%
RBA-TRITCHIE BROS AUCTIONEERS $76.38 271 $75.14 -2%
Information Technology
HUT-THUT 8 MINING CORP $2.39 500 $7.80 227%
DND-TDYE & DURHAM LTD $21.91 310 $47.50 117%
DCBO-TDOCEBO INC $39.65 900 $81.76 106%
CTS-TCONVERGE TECHNOLOGY SOLUTIONS CORP $6.61 1020 $12.52 89%
NVEI-TNUVEI CORP $57.98 1320 $105.39 82%
LSPD-TLIGHTSPEED COMMERCE INC $30.29 1611 $53.35 76%
KXS-TKINAXIS INC $130.39 1000 $208.00 60%
SHOP-TSHOPIFY INC $445.85 26173 $685.09 54%
ENGH-TENGHOUSE SYSTEMS LTD $24.84 210 $37.83 52%
OTEX-TOPEN TEXT CORP $49.31 810 $69.57 41%
CSU-TCONSTELLATION SOFTWARE INC $1,872.15 520 $2,458.57 31%
CLS-TCELESTICA INC $13.87 171 $17.34 25%
BB-TBLACKBERRY LTD $7.08 043 $8.71 23%
DSG-TDESCARTES SYSTEMS GROUP INC $78.57 840 $96.06 22%
GIB-A-TCGI INC $100.71 1112 $122.57 22%
TIXT-TTELUS INTERNATIONAL CDA INC $30.26 1131 $34.50 14%
Materials
NG-TNOVAGOLD RESOURCES INC $7.57 120 $19.64 159%
SEA-TSEABRIDGE GOLD INC $18.89 400 $43.25 129%
HBM-THUDBAY MINERALS INC $6.95 1710 $12.53 80%
TXG-TTOREX GOLD RESOURCES INC $13.15 630 $23.11 76%
ERO-TERO COPPER CORP $14.31 920 $24.91 74%
CFP-TCANFOR CORP $24.69 600 $42.17 71%
K-TKINROSS GOLD CORP $5.78 1140 $9.85 70%
ELD-TELDORADO GOLD CORP $10.66 641 $18.06 69%
LAC-TLITHIUM AMERICAS CORP $28.95 1320 $48.40 67%
IFP-TINTERFOR CORP $30.26 600 $49.17 62%
STLC-TSTELCO HOLDINGS INC $38.17 630 $61.32 61%
OSK-TOSISKO MINING INC $3.95 1100 $6.33 60%
DPM-TDUNDEE PRECIOUS METALS INC $7.79 810 $12.36 59%
EQX-TEQUINOX GOLD CORP $7.80 650 $12.18 56%
SIL-TSILVERCREST METALS INC $9.77 800 $15.06 54%
IVN-TIVANHOE MINES LTD $10.02 1000 $15.44 54%
EDR-TENDEAVOUR SILVER CORP $5.05 460 $7.74 53%
OR-TOSISKO GOLD ROYALTIES LTD $15.00 1110 $22.94 53%
FR-TFIRST MAJESTIC SILVER CORP $11.35 240 $17.18 51%
BTO-TB2GOLD CORP $5.32 1410 $8.05 51%
SSL-TSANDSTORM GOLD LTD $8.75 920 $13.23 51%
NGD-TNEW GOLD INC $1.77 381 $2.53 43%
SJ-TSTELLA-JONES INC $34.89 710 $49.75 43%
WFG-TWEST FRASER TIMBER CO LTD $111.89 600 $157.95 41%
NTR-TNUTRIEN LTD $110.41 1850 $155.30 41%
MAG-TMAG SILVER CORP $18.88 840 $26.54 41%
TCL-A-TTRANSCONTINENTAL INC $15.81 330 $22.00 39%
CG-TCENTERRA GOLD INC $10.15 441 $13.96 38%
CAS-TCASCADES INC $10.08 430 $13.79 37%
WPM-TWHEATON PRECIOUS METALS CORP $53.98 1520 $73.76 37%
AEM-TAGNICO EAGLE MINES LTD $68.98 1720 $93.54 36%
SSRM-TSSR MINING INC $26.13 1010 $34.94 34%
ABX-TBARRICK GOLD CORP $26.89 1860 $35.49 32%
LUN-TLUNDIN MINING CORP $10.75 11111 $14.12 31%
CCL-B-TCCL INDUSTRIES INC $59.29 1010 $77.10 30%
PAAS-TPAN AMERICAN SILVER CORP $29.90 720 $38.67 29%
YRI-TYAMANA GOLD INC $7.21 930 $9.25 28%
FM-TFIRST QUANTUM MINERALS LTD $34.25 1761 $43.74 28%
OGC-TOCEANAGOLD CORP $3.10 720 $3.96 28%
FVI-TFORTUNA SILVER MINES INC $4.68 340 $5.93 27%
AGI-TALAMOS GOLD INC $10.41 931 $13.15 26%
TRQ-TTURQUOISE HILL RESOURCES LTD $36.82 420 $45.60 24%
WDO-TWESDOME GOLD MINES LTD $13.40 930 $16.59 24%
WPK-TWINPAK LTD $39.51 220 $48.75 23%
LIF-TLABRADOR IRON ORE ROYALTY CORP $33.59 070 $41.43 23%
KNT-TK92 MINING $9.87 1300 $12.06 22%
FNV-TFRANCO-NEVADA CORP $187.49 1280 $223.09 19%
MX-TMETHANEX CORP $63.30 652 $72.82 15%
TECK-B-TTECK RESOURCES LTD $54.01 1950 $61.45 14%
IMG-TIAMGOLD CORP $2.96 247 $3.25 10%
ITP-TINTERTAPE POLYMER GROUP INC $39.58 030 $40.50 2%
Real Estate
TCN-TTRICON RESIDENTIAL INC $13.66 1120 $21.17 55%
IIP-UN-TINTERRENT REIT $12.69 1011 $18.15 43%
CIGI-TCOLLIERS INTERNATIONAL GROUP $139.69 610 $199.20 43%
DIR-UN-TDREAM INDUSTRIAL REIT $13.03 1000 $18.40 41%
AIF-TALTUS GROUP LTD $44.60 710 $62.88 41%
KMP-UN-TKILLAM APARTMENT REIT $17.34 1210 $24.10 39%
FCR-UN-TFIRST CAPITAL REIT $15.01 520 $20.54 37%
AP-UN-TALLIED PROPERTIES REIT $36.42 1120 $49.71 36%
CAR-UN-TCAN APARTMENT PROPERTIES REIT $46.60 1310 $63.41 36%
PMZ-UN-TPRIMARIS REIT $13.22 200 $17.75 34%
SMU-UN-TSUMMIT INDUSTRIAL INCOME REIT $17.66 720 $23.50 33%
BEI-UN-TBOARDWALK REIT $46.72 551 $60.96 30%
D-UN-TDREAM OFFICE REIT $20.87 540 $27.08 30%
GRT-UN-TGRANITE REIT $84.16 1000 $108.50 29%
FSV-TFIRSTSERVICE CORP $154.44 230 U.S. $153.75 27%
HR-UN-TH&R REIT $13.55 520 $17.07 26%
REI-UN-TRIOCAN REIT $21.41 810 $26.25 23%
NWH-UN-TNORTHWEST HEALTHCARE PROPERTIES REIT $12.68 430 $15.39 21%
CRR-UN-TCROMBIE REIT $16.50 630 $19.42 18%
SRU-UN-TSMARTCENTRES REIT $28.51 260 $33.00 16%
CHP-UN-TCHOICE PROPERTIES REIT $14.38 170 $16.31 13%
CRT-UN-TCT REIT $16.73 340 $18.79 12%
AX-UN-TARTIS REIT $12.60 260 $13.75 9%
Utilities
INE-TINNERGEX RENEWABLE ENERGY INC $18.00 731 $21.50 19%
ALA-TALTAGAS LTD $29.41 1500 $34.58 18%
NPI-TNORTHLAND POWER INC $39.76 1320 $45.82 15%
SPB-TSUPERIOR PLUS CORP $12.00 750 $13.75 15%
TA-TTRANSALTA CORP $14.42 930 $16.45 14%
ACO-X-TATCO LTD $45.12 330 $50.50 12%
BEP-UN-TBROOKFIELD RENEWABLE PARTNERS LP $46.13 1161 $51.12 11%
AQN-TALGONQUIN POWER & UTILITIES CORP $18.12 662 $19.89 10%
RNW-TTRANSALTA RENEWABLES INC $17.52 0121 $18.83 7%
BIP-UN-TBROOKFIELD INFRASTRUCTURE PARTNERS LP $77.05 1021 $81.33 6%
BLX-TBORALEX INC $44.42 1030 $46.60 5%
EMA-TEMERA INC $62.17 593 $65.19 5%
H-THYDRO ONE LTD $34.51 672 $35.80 4%
CPX-TCAPITAL POWER CORP $46.37 580 $46.85 1%
CU-TCANADIAN UTILITIES LTD $39.65 160 $39.71 0%
FTS-TFORTIS INC $62.35 2114 $62.03 -1%

Source: Bloomberg and Refinitiv

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