UBS Global Research analyst Mauricio Serna raised his price target for Aritzia Inc. (ATZ:TSX) to $216 from $204, implying up to 35% upside from its Friday close of $160.05 after the Vancouver-based women's fashion retailer posted first-quarter earnings that included a 43% increase in net revenue and strong growth in both the United States and Canada. Serna cited Aritzia's investments in differentiated store concepts, increasing brand relevance, diversified product assortment, and digital marketing initiatives as drivers for compelling long-term growth. The company also reported 35% year-over-year growth in comparable sales alongside a strong outlook for the second quarter and better-than-expected guidance for 2027.
Analyst Price Target Hikes Flood In
RBC Capital Markets analyst Irene Nattel also raised her price target for Aritzia to $202 from $193, labeling the latest quarter "impressive." Nattel and Serna were among 10 analysts who hiked their price targets on the company following the earnings release. Aritzia's shares rose nearly 8% on Friday but remain off their all-time high of $173.20 reached in mid-June. The average 12-month price target based on 14 analysts' calls is $189.14, according to Bloomberg.
RBC Adds Two TSX Stocks to Global Top 30 List
RBC Capital Markets added Canadian National Railway Co. (CNR:TSX) and Apotex Health Corp. (APTX:TSX) to its top 30 global stock ideas for the third quarter. Graeme Pearson, head of RBC Global Research, said Canadian National was included because its shares trade at a discount to peers despite improving fundamentals such as car speeds. "Record grain volumes, intermodal share gains, and pricing running ahead of inflation underpin a solid earnings growth outlook, and ongoing capacity investments position CN for meaningful operating leverage as freight volumes recover," Pearson said in a research note on July 8. Apotex, which debuted on the TSX on June 10, was added based on its leading position in the Canadian generic drug sector with 23% market share and a top-10 ranking in the U.S. market. Pearson noted that Apotex should harness improving industry fundamentals, capturing disproportionate economic value due to its strong first-to-market abilities. The top-30 list posted a total return of 11.1% in U.S. dollars. Other TSX-listed names on the list include AltaGas Ltd. (ALA:TSX), Constellation Software Inc. (CSU:TSX), and Loblaw Cos. Ltd. (L:TSX).
Raymond James Updates Metals Price Targets
Raymond James analysts led by Bruce MacArthur updated their near-term and long-term price targets for base and precious metals, including copper, gold, and silver, making stock recommendations alongside those calls. The analysts hiked their price targets for copper—their top pick—on expected supply shortages. "As a result of the copper price forecast changes, we are broadly increasing price targets across the base metal producers under coverage," the analysts said in a note on July 8, with Freeport McMoRan Inc. (FCX:NYSE) and Hudbay Minerals Inc. (HBM:TSX) as their leading picks. In gold and silver, the team said it was "broadly" cutting price targets for precious metals producers, though it still has preferred names including Agnico Eagle Mines Ltd. (AEM:TSX) for its lower geographic risk. The team also likes OceanaGold Corp. (OGC:TSX), citing improving production year-over-year. Raymond James remains bullish on uranium and continues to recommend Cameco Corp. (CCO:TSX), NexGen Energy Ltd. (NXE:TSX), and Denison Mines Corp. (DML:TSX). The price of gold traded on July 10 below where it started the year, down 24% from its record high of just over US$5,400 an ounce in January.
