Scotiabank Stock Recommendations and Price Targets

This is a list of recent ratings by Scotiabank.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
2/3/2023	BCE BCE	Lower Price Target	C$62.00	C$66.75 ➝ C$66.00		N/A
2/3/2023	PXT Parex Resources	Boost Price Target	C$23.00	C$24.00 ➝ C$26.00		N/A
2/2/2023	GIB CGI	Boost Price Target	C$91.00	C$135.00 ➝ C$140.00		Low
2/2/2023	TRP TC Energy	Lower Price Target	C$42.00	C$67.00 ➝ C$66.00		Low
2/2/2023	GIB.A CGI	Boost Price Target	C$122.00	C$135.00 ➝ C$140.00		N/A
2/2/2023	GRT.UN Granite Real Estate Investment Trust	Boost Price Target	C$86.00	C$92.00 ➝ C$94.00		N/A
2/2/2023	TRP TC Energy	Lower Price Target	C$56.00	C$67.00 ➝ C$66.00		N/A
1/31/2023	FINGF Finning International	Boost Price Target	C$28.00	C$37.00 ➝ C$44.00		Low
1/31/2023	TMTNF Toromont Industries	Boost Price Target	C$79.00	C$116.00 ➝ C$121.00		Low
1/31/2023	WJXFF Wajax	Boost Price Target	C$17.00	C$25.00 ➝ C$27.00		Low
1/31/2023	SHOP Shopify	Initiated Coverage	$53.00	$43.00	Sector Perform	Low
1/30/2023	EMN Eastman Chemical	Downgrade	$90.00	$100.00 ➝ $90.00	Sector Outperform ➝ Sector Perform	Low
1/30/2023	EFRTF Nexus Industrial REIT	Initiated Coverage	$8.00		Outperform	Low
1/30/2023	NXR.UN Nexus Industrial REIT	Initiated Coverage	C$11.00	C$12.00	Buy	N/A
1/30/2023	GWLIF Great-West Lifeco	Boost Price Target	C$27.00	C$34.00 ➝ C$38.00		Low
1/30/2023	IAFNF iA Financial	Boost Price Target	C$61.00	C$85.00 ➝ C$102.00		N/A
1/30/2023	MFC Manulife Financial	Boost Price Target	C$20.00	C$27.00 ➝ C$34.00		Low
1/30/2023	SLF Sun Life Financial	Boost Price Target	C$50.00	C$67.00 ➝ C$71.00		Low
1/27/2023	ATSAF ATS	Boost Price Target	C$41.00	C$60.00 ➝ C$66.00		Low
1/27/2023	EICCF E Automotive	Boost Price Target	C$3.00	C$5.00 ➝ C$6.00		N/A
1/27/2023	EINC E Automotive	Boost Price Target	C$4.00	C$5.00 ➝ C$6.00		N/A
1/25/2023	ALB Albemarle	Reiterated Rating	$287.00		Sector Perform	Low
1/25/2023	AGF.B AGF Management	Boost Price Target	C$9.00	C$8.50 ➝ C$8.75		N/A
1/25/2023	CIX CI Financial	Boost Price Target	C$17.00	C$17.00 ➝ C$19.00		N/A
1/25/2023	DFY Definity Financial	Boost Price Target	C$35.00	C$43.00 ➝ C$44.00		N/A
1/25/2023	FFH Fairfax Financial	Boost Price Target	C$863.00	C$995.00 ➝ C$1,050.00		N/A
1/25/2023	IGM IGM Financial	Boost Price Target	C$42.00	C$44.00 ➝ C$45.00		N/A
1/25/2023	IFC Intact Financial	Boost Price Target	C$195.00	C$224.00 ➝ C$231.00		N/A
1/25/2023	POW Power Co. of Canada	Boost Price Target	C$36.00	C$38.50 ➝ C$39.00		N/A
1/25/2023	X TMX Group	Lower Price Target	C$133.00	C$165.00 ➝ C$164.00		N/A
1/25/2023	AGFMF AGF Management	Boost Price Target	C$7.00	C$8.50 ➝ C$8.75		Low
1/25/2023	CIXX CI Financial	Boost Price Target	C$11.00	C$17.00 ➝ C$19.00		Low
1/25/2023	FRFHF Fairfax Financial	Boost Price Target	C$644.00	C$995.00 ➝ C$1,050.00		Low
1/25/2023	IFCZF Intact Financial	Boost Price Target	C$146.00	C$224.00 ➝ C$231.00		Low
1/25/2023	IGIFF IGM Financial	Boost Price Target	C$32.00	C$44.00 ➝ C$45.00		Low
1/25/2023	PWCDF Power Co. of Canada	Boost Price Target	C$27.00	C$38.50 ➝ C$39.00		Low
1/24/2023	KRC Kilroy Realty	Downgrade	$41.00	$53.00 ➝ $43.00	Sector Outperform ➝ Sector Perform	Low
1/24/2023	MLLGF Mullen Group	Upgrade	C$10.00	C$16.00 ➝ C$17.50	Sector Perform ➝ Outperform	Low
1/24/2023	CHRRF Chorus Aviation	Downgrade	C$3.00	C$4.00 ➝ C$4.40	Outperform ➝ Sector Perform	Low
1/24/2023	ACDVF Air Canada	Boost Price Target	C$17.00	C$25.00 ➝ C$28.00		Low
1/24/2023	ANDHF Andlauer Healthcare Group	Boost Price Target	C$38.00	C$53.00 ➝ C$55.00		N/A
1/24/2023	CNI Canadian National Railway	Boost Price Target	C$120.00	C$159.00 ➝ C$170.00		Low
1/24/2023	CP Canadian Pacific Railway	Boost Price Target	C$79.00	C$102.00 ➝ C$110.00		Low
1/24/2023	CGJTF Cargojet	Lower Price Target	C$98.00	C$185.00 ➝ C$180.00		Low
1/24/2023	EIFZF Exchange Income	Boost Price Target	C$42.00	C$60.00 ➝ C$64.00		Low
1/24/2023	HERXF Héroux-Devtek	Boost Price Target	C$11.00	C$17.00 ➝ C$19.00		N/A
1/24/2023	TFII TFI International	Boost Price Target	C$119.00	C$168.00 ➝ C$170.00		Low
1/24/2023	WTSHF Westshore Terminals Investment	Lower Price Target	C$19.00	C$24.00 ➝ C$23.50		N/A
1/23/2023	AFN Ag Growth International	Boost Price Target	C$54.00	C$55.00 ➝ C$65.00		N/A
1/23/2023	AC Air Canada	Boost Price Target	C$23.00	C$25.00 ➝ C$28.00	Outperform	N/A
1/23/2023	ALA AltaGas	Boost Price Target	C$25.00	C$30.00 ➝ C$31.00		N/A
1/23/2023	AND Andlauer Healthcare Group	Boost Price Target	C$47.00	C$53.00 ➝ C$55.00		N/A
1/23/2023	CNR Canadian National Railway	Set Price Target	C$161.00	C$170.00		N/A
1/23/2023	CP Canadian Pacific Railway	Boost Price Target	C$106.00	C$102.00 ➝ C$110.00		N/A
1/23/2023	CJT Cargojet	Lower Price Target	C$131.00	C$185.00 ➝ C$180.00		N/A
1/23/2023	CHR Chorus Aviation	Downgrade	C$4.00	C$4.00 ➝ C$4.40	Outperform ➝ Sector Perform	N/A
1/23/2023	EMA Emera	Boost Price Target	C$54.00	C$59.00 ➝ C$61.00		N/A
1/23/2023	EIF Exchange Income	Boost Price Target	C$55.00	C$60.00 ➝ C$64.00		N/A
1/23/2023	FTS Fortis	Boost Price Target	C$55.00	C$57.00 ➝ C$58.00		N/A
1/23/2023	HRX Héroux-Devtek	Boost Price Target	C$16.00	C$17.00 ➝ C$19.00		N/A
1/23/2023	H Hydro One	Boost Price Target	C$36.00	C$34.00 ➝ C$36.00		N/A
1/23/2023	MTL Mullen Group	Upgrade	C$14.00	C$16.00 ➝ C$17.50	Sector Perform ➝ Outperform	N/A
1/23/2023	TFII TFI International	Boost Price Target	C$159.00	C$168.00 ➝ C$170.00		N/A
1/23/2023	WTE Westshore Terminals Investment	Lower Price Target	C$25.00	C$24.00 ➝ C$23.50		N/A
1/23/2023	AGGZF Ag Growth International	Boost Price Target	C$40.00	C$55.00 ➝ C$65.00		Low
1/23/2023	ATGFF AltaGas	Boost Price Target	C$18.00	C$30.00 ➝ C$31.00		Low
1/23/2023	EMRAF Emera	Boost Price Target	C$40.00	C$59.00 ➝ C$61.00		Low
1/23/2023	FTS Fortis	Boost Price Target	C$41.00	C$57.00 ➝ C$58.00		Low
1/23/2023	HRNNF Hydro One	Boost Price Target	C$27.00	C$34.00 ➝ C$36.00		Low
1/20/2023	GBOOY Grupo Financiero Banorte	Downgrade	$41.00		Outperform ➝ Sector Perform	Low
1/20/2023	CCL.B CCL Industries	Lower Price Target	C$63.00	C$75.00 ➝ C$73.00		N/A
1/20/2023	KNT K92 Mining Inc. (KNT.V)	Lower Price Target	C$8.00	C$9.50 ➝ C$9.25		N/A
1/20/2023	CCDBF CCL Industries	Lower Price Target	C$47.00	C$75.00 ➝ C$73.00		Low
1/20/2023	KNTNF K92 Mining	Lower Price Target	C$5.00	C$9.50 ➝ C$9.25		Low
1/19/2023	RUS Russel Metals	Lower Price Target	C$33.00	C$38.00 ➝ C$37.50		N/A
1/19/2023	RUSMF Russel Metals	Lower Price Target	C$24.00	C$38.00 ➝ C$37.50		Low
1/18/2023	S SentinelOne	Initiated Coverage	$16.00	$13.00	Sector Perform	Low
1/18/2023	SNOW Snowflake	Initiated Coverage	$163.00	$125.00	Sector Perform	Low
1/18/2023	OKTA Okta	Initiated Coverage	$77.00	$90.00	Outperform	Low
1/18/2023	PANW Palo Alto Networks	Initiated Coverage	$160.00	$155.00	Outperform	Low
1/18/2023	CRWD CrowdStrike	Initiated Coverage	$114.00	$132.00	Outperform	Low
1/18/2023	BDRBF Bombardier	Boost Price Target	C$49.00	C$55.00 ➝ C$75.00		Low
1/18/2023	CXBMF Calibre Mining	Boost Price Target	C$1.00	C$1.50 ➝ C$1.75		Low
1/18/2023	EQX Equinox Gold	Boost Price Target	C$4.00	C$6.00 ➝ C$6.50		N/A
1/18/2023	GAU Galiano Gold	Boost Price Target	C$1.00	C$0.75 ➝ C$1.00		N/A
1/18/2023	OR Osisko Gold Royalties	Boost Price Target	C$13.00	C$25.00 ➝ C$26.00		Low
1/18/2023	RUPRF Rupert Resources	Boost Price Target	C$4.00	C$6.00 ➝ C$8.00		Low
1/18/2023	SSRM SSR Mining	Lower Price Target	C$16.00	C$30.00 ➝ C$29.50		Low
1/18/2023	SKE Skeena Resources	Boost Price Target	C$6.00	C$15.00 ➝ C$16.00		Low
1/18/2023	TORXF Torex Gold Resources	Boost Price Target	C$13.00	C$19.00 ➝ C$22.00		Low
1/17/2023	AMH American Homes 4 Rent	Initiated Coverage	$35.00	$36.00	Sector Outperform	Low
1/17/2023	INVH Invitation Homes	Initiated Coverage	$33.00	$30.00	Sector Perform	Low
1/17/2023	BIREF Birchcliff Energy	Downgrade	$6.00		Outperform ➝ Sector Perform	Low
1/17/2023	KELTF Kelt Exploration	Downgrade	$3.00		Outperform ➝ Sector Perform	Low
1/17/2023	NFG National Fuel Gas	Downgrade	$60.00	$91.00 ➝ $85.00	Sector Outperform ➝ Sector Perform	Low
1/17/2023	COP ConocoPhillips	Downgrade	$108.00	$145.00 ➝ $140.00	Sector Outperform ➝ Sector Perform	Low
1/17/2023	BP BP	Upgrade	$35.00	$37.00 ➝ $42.00	Sector Perform ➝ Sector Outperform	Low
1/17/2023	XOM Exxon Mobil	Upgrade	$112.00	$120.00 ➝ $135.00	Sector Perform ➝ Sector Outperform	Low
1/17/2023	AETUF ARC Resources	Lower Price Target	C$11.00	C$29.00 ➝ C$27.00		Low
1/17/2023	AAVVF Advantage Energy	Lower Price Target	C$6.00	C$16.50 ➝ C$14.50		Low