News / Canada / globe_inside_market
Analyst Roundup: Nutrien Downgraded, Cenovus and High Tide Ratings Reaffirmed
Finance · Investment Banks/Brokers · globe_inside_market · 2026-08-25
NTR, CVE, HR, GO, HITI, LAR, TXCX
Market analysts adjust outlooks for Nutrien, Cenovus Energy, H&R REIT, High Tide, and Lithium Argentina following recent corporate developments.
What Happened
Nutrien Rating Adjustment: National Bank Financial downgraded Nutrien Ltd. to sector perform from outperform, citing valuation concerns after a 14-per-cent share price increase since July. Analyst Ahmed Abdullah noted that while the investment thesis remains intact, the current stock price reflects a balanced risk-reward profile, with the company trading at a narrower discount to its peers.
Cenovus Energy Momentum: Cenovus Energy continues to receive positive coverage, with National Bank Financial maintaining an outperform rating based on strong upstream performance and potential for full capital returns. The analyst highlighted that the company's operational execution and commodity price tailwinds provide an attractive entry point compared to its sector peers.
H&R REIT Takeover Skepticism: TD Cowen expressed continued doubt regarding the $3.4-billion takeover bid for H&R REIT by GO REIT, citing concerns over transparency and potential dilution for public unitholders. Analyst Sam Damiani lowered his price target for H&R, suggesting that the REIT might find better long-term value by pursuing a pure-play apartment strategy rather than the proposed merger.
High Tide and Lithium Argentina Outlooks: High Tide Inc. remains a top pick for TD Cowen, with analysts pointing to strong quarterly guidance and international growth as evidence of significant upside potential. Additionally, Stifel raised its price target for Lithium Argentina, noting that recent balance sheet restructuring and strategic partnerships have improved the company's growth prospects in the lithium sector.