Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeInvestorThis TSX stock could be a winner as Mark Carney beefs up defence spending strategy, analyst saysThe Week in Stocks: The Big Bank stocks that saw price target hikes after reporting earnings, other price target moves, and more You can save this article by registering for free here. Or sign-in if you have an account.Prime Minister Mark Carney speaks at the Economic Club Of New York luncheon on May 28 in New York City. Photo by Michael M. Santiago/Getty ImagesThe Big Bank stocks that saw price target hikes after reporting earnings, the company one analyst sees as trading at an ‘unjustified’ discount and more from The Week in Stocks.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorSince the United States Navy started clearing mines in the Strait of Hormuz , St. John’s-based Kraken Robotics Inc. (PNG:TSX) and Covelya Group Ltd., which Kraken announced in March it was buying — have logged orders worth approximately $40 million over a month and a half, Benoit Poirier, an analyst at Desjardins Capital Markets, said in a note on May 28. “We view the opportunity as one of the most compelling in our coverage,” Poirier said of the prospects for shares of the marine technology company. He has a price target of $14 for Kraken, well above the 12-month price target of $10.80 based on the calls of five analysts, according to Bloomberg. Shares closed Friday at $7.44. As defence spending ramps up in Canada and around the world, Poirier said “all eyes” will be on Kraken when it closes its deal to purchase subsea tech company Covelya, especially as the latter’s exposure to the defence sector is expected to grow. The shares, if projecting today’s performance to 2028, are trading at an “unjustified” 60 per cent discount to drone and defence peers, Poirier said. ATB Cormark Capital Markets also has Kraken on its radar and said in a note that the company is likely in contention to be named “as a maritime robotics champion” by Ottawa’s Defence Advisory Forum, though it could face competition for business from Kongsberg Maritime AS (KMAR:NO) of Norway, which manufactures an underwater autonomous vehicle, parts of which could be built in British Columbia. ATB has a price target on Kraken of $6.50.Canada's best source for investing news, analysis and insight.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Investor will soon be in your inbox.We encountered an issue signing you up. Please try againCanada’s Big Banks closed out second quarter earnings this week with analysts at different outlets maintaining or hiking price targets. Here’s a look at what some of them see for the shares of the Big Six financial players. Royal Bank of Canada (RY:TSX): Analyst Gabriel Dechaine at National Bank of Canada Capital Markets maintained his price target of $271 for the shares of Canada’s largest publicly traded company. Shares closed Friday at $264.44. RBC increased its dividend by seven per cent in the quarter and repurchased seven million shares. Toronto-Dominion Bank (TD:TSX): Dechaine hiked his price target for TD to $162 from $157 on improved financial performance in Canadian banking — “an important stock driver.” Shares closed Friday at $157.75. Bank of Montreal (BMO:TSX): Analyst Darko Mihelic, at RBC Capital Markets hiked his price target for shares of BMO to $230 from $205. Shares closed Friday at $223.93. Earning results came in stronger than expected except in Canada, while total provisions for credit losses fell quarter over quarter. Canadian Imperial Bank of Commerce (CM:TSX): Mihelic said RBC has a “positive view” of CIBC’s results given that core earnings per share (EPS) came in above estimates, while net interest income also beat estimates and PCLs came in below estimates. “Our sense is that the stock run was building bigger expectations (possibly out of capital markets) but we see this as another solid quarter of execution,” Mihelic said. He hiked his price target for CIBC to $167 from of $147. Shares closed Friday at $150.49. Bank of Nova Scotia (BNX:TSX): Analyst Sohrab Mohavedi at BMO Capital Markets maintained his price target of $101 for shares of Scotiabank on a “slight beat” on operating EPS. Shares closed Friday at $110.62. The company bought back 6.4 million shares in the quarter and hiked its dividend by approximately four per cent. National Bank of Canada (NA:TSX): Analyst Mike Rizvanovic at Scotia Capital Markets said NBC posted a “decent” quarter, boosted by the financial markets, though “segment performance was a bit mixed.” Rizvanovic maintained his price target of $214. Shares closed Friday at $201.34.Prime Minister Mark Carney was at CANSEC, Canada’s leading defence conference, this week to promote changes to how Ottawa does business when it comes to defence spending. “This was the largest event in its history with 300 exhibitions and over 100 delegations,” according to ATB Cormark Capital Markets, whose analysts attended the event in Ottawa. Calian Group Ltd. (CGY:TSX) is one of ATB’s main picks to benefit from a notable shift in defence spending, priorities and timetables. ATB has a price target on Calian of $98.50. Shares closed Friday at $92.13. ATB thinks Calian can leverage the defence push to its benefit through its several segments, including its composite materials unit, its global navigation satellite systems and a new application for the Canadian Air Forces (CAF) that provides a bridge between communication networks, sensors and data flows. “Our read on this product is that it was very much CGY proactively leveraging its position as a leading Canadian vendor to the CAF to add value where it’s needed,” ATB said. Calian has a 12-month price target of $93.21 based on the calls of seven analysts, according to Bloomberg.Desjardins Capital Markets analyst Jerome Dubreuil maintained his price target for BCE Inc. (BCE:TSX) of $43.50 on the company’s data centre bet. BCE closed Friday at $34.78.TD Cowen analyst Brian Morrison hiked his price target for BRP Inc. (DOO:TSX) to $92 from $84 as guidance for 2027 was reintroduced and matched consensus. Shares closed Friday at $79.70.Raymond James analyst Stephen Boland cut his price target for EQB Inc. (EQB:TSX) to $123 from $127 on an expected slowdown in share buybacks proving a “possible modest negative” for the stock. Shares closed Friday at $116.93.BMO Capital Markets analyst John Gibson hiked his price target for Bird Construction Inc. (BDT:TSX) to $70 from $60 on partnerships with Bell Canada and Marten Falls First Nations in northern Ontario as well as defence opportunities in Canada. Shares closed Friday at $57.79.CIBC Capital Markets analyst Robert Catellier hiked his price target for Pembina Pipelines Corp. (PPL:TSX) to $72 from $66 after the company approved its $570 million Heartland Extraction Plant and announced the expansion of its long-term deal with Dow Inc. Shares closed Friday at $57.79.Note to readers: The Week in Stocks will return June 12.Every week, the Financial Post breaks down the most interesting developments in the week’s world of investing, from top performers to surprising analyst calls and stocks to have on your radar.Are you an investor looking for stock ideas and market insight? Sign up for the weekly FP Investor Newsletter here to get the best of the Financial Post’s investing news, analysis and expert commentary straight to your inbox. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.