Inside the Market’s roundup of some of today’s key analyst actions
While National Bank Financial analysts Dan Payne and Travis Wood remain “optimistic” about the outlook for Canada’s energy sector, they emphasized recent policy decisions and building narratives from U.S. president Donald Trump during his first few days in office leave them “somewhat tepid in the shorter term.” A
The analysts also named several companies that they think are “less exposed on a relative basis to the threat of tariffs, as well as highlight those names with relative upside should the tariffs not come to fruition.” After the bell on Wednesday, CPKC reported revenue of $3.87-billion, falling below Mr. Spracklin’s $3.97-billion estimate but matching the expectation the Street. Adjusted earnings per share of $1.29 was a gain of 9 per cent year-over-year and above the projections of both the analyst and the Street . An operating ratio of 57.1 per cent was an improvement of 1.6 per cent from the same period a year ago and also better than anticipated.
Maintaining his 2025 EPS forecast of $4.99, which represents 17-per-cent growth, the analyst “slightly” moderated his 2026 and 2027 EPS expectations but still models growth by 17 per cent in 2026 and 15 per cent in 2027. “EBIT margin was in line with our expectation following the closing of acquisitions. These acquisitions tend to have lower margins than CGI’s target and will take time to bring up to CGI’s level; however, given the company’s solid integration track record, we believe EBIT margin will expand from here.”
“CGI reported fiscal Q1 largely in line with consensus. While organic growth was below expectations, M&A is likely to more than offset the softness. Due to contribution from acquisitions, we are slightly increasing our adj. EPS estimates. Q1 further validates CGI’s model for value creation, in that healthy FCF enables M&A, which drives the majority of growth,” he said.
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