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Analyst Roundup: Target Adjustments for Canadian Mortgage Lenders and Enerflex Power Orders
Finance · Investment Banks/Brokers · globe_inside_market · 2026-10-14
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Financial analysts adjust price targets for various Canadian mortgage and consumer lenders while highlighting significant new power generation contracts for Enerflex.
What Happened
Mortgage and Consumer Lending Outlook: Analysts at TD Cowen have lowered target multiples for consumer and mortgage lenders, citing macroeconomic uncertainty and rising interest rates. While mortgage lenders may see stable revenue, higher rates are expected to pressure credit performance and increase interest expenses for these firms.
Company-Specific Target Adjustments: Several firms saw target price reductions, including Atrium Mortgage Investment Corp., Firm Capital Mortgage Investment Corp., Goeasy Ltd., and Timbercreek Financial Corp. Analysts remain cautious about portfolio growth and bad debt expenses, though some maintain buy ratings based on long-term growth potential and funding facility renewals.
Waste Management and Food Sector Analysis: Citi analysts anticipate solid third-quarter results for North American waste management firms, with GFL Environmental positioned for growth through acquisitions and potential EBITDA expansion. Meanwhile, National Bank Financial expects Maple Leaf Foods to show sequential sales improvement despite trimming price targets due to a challenging consumer environment.
Enerflex and Other Market Actions: Enerflex Ltd. received a significant boost in its target price following the announcement of major data center power generation contracts that expanded its backlog to over 1.75GW. Other notable analyst actions included target updates for Quebecor Inc., Shopify Inc., and Silver Tiger Metals following recent financing activities.