How to play the Iran war-driven energy volatility, a rethink of Power Corp.’s Thursday selloff, price target hikes and cuts and more from The Week in Stocks. 

Stock of the week: MDA Space Ltd.

The

S&P/TSX composite index

has returned all its gains for the year and then some, but there are still winners out there. Space and defence technology company

MDA Space Ltd.

(MDA:TSX) is up just over 61 per cent year to date and Desjardins Capital Markets analyst Benoit Poirier said in a report on March 19 that several catalysts should propel shares higher in 2026. Poirier hiked his price target to $53 from $51, the second increase this year, as “visibility” has increased on Canada’s space program. Shares closed Friday just under $43. Among the government projects MDA is expected to benefit from are a $32 million ground-based space surveillance system and a strategic partnership with Canada’s Department of National Defence and Telesat Corp. (TSAT:TSX) to build satellites to enhance communication over Canada’s North. Following, the launch of MDA’s U.S.-listed shares on March 12, Poirier calculated the Brampton, Ont.-based company reaped $444 million in net proceeds and will likely end 2026 with net cash of $94 million, potentially allowing for acquisitions. Eight analysts tracked by Bloomberg have a 12-month average price target for MDA of $54.25.

Keeping score

Scotia’s top energy picks to navigate oil and natural gas volatility

Though the Iran conflict sent

oil

and

natural gas

prices soaring, their future trajectory in unclear. Scotia Capital Markets analysts led by Kevin Fisk think they have a way to negotiate this uncertainty, producing a list of several top picks in the Canadian energy space. “Given the commodity price uncertainty, our preference is for stocks with above average yields in all our commodity cases, and are baking in reasonable commodity prices,” the Scotia team said, Oil weighted companies are, on average, pricing oil at US$71 per barrel, with West Texas Intermediate (WTI)  trading on Friday around US$95. Scotia’s top picks in the oil category are

Cenovus Energy Inc.

(CVE:TSX),

Whitecap Resources Inc.

(WCP:TSX) and

Ovintin Inc.

(OVV:TSX) based on outlooks built on lower WTI prices compared with peers and “solid exposure to stronger oil prices.” On the defensive side of the oil play, Scotia likes Freehold Royalties Ltd. (TSX:FRU) and PrairieSky Royalty Ltd. (PSK:TSX). Scotia’s top picks in the natural gas space include Topaz Energy Corp. (TPZ:TSX), Spartan Delta Corp. (SDE:TSX), Peyto Exploration and Development Corp. (PEY:TSX) and Expand Energy Corp. (EXE:NYSE). Each name boasts a distinct advantage. Topaz offers “ultra-high margin exposure” to the top assets in the Western Canada Sedimentary Basin and Spartan, which operates in the Duvernay region, is a “top-growth name,” Scotia said. Expand is Scotia’s best name in the U.S. gas space for its “upside torque and downside protection.”

Vermilion Energy Inc.

(VET:TSX) provides exposure to the European gas market, Fisk said.

Was Power Corp.’s selloff overdone?

Investors reacted to

Power Corp. of Canada

‘s (POW:TSX) earnings on Thursday by driving shares down four per cent. A day later, shares rebounded, while several analysts hiked their price target for the Montreal-based conglomerate. This included RBC Capital Markets analyst Bart Dziarski, who increased his target for Power Corp. to $73 from $69 after the company reported earnings were hit by “one-time sizable items.” Shares closed at $64.88. Year to date, shares are down just over 10 per cent, but rose 62 per cent in 2025. Dziarski thinks Thursday’s selloff was overdone given the shares are trading at a 21 per cent discount to the net asset value, and Power pays an “attractive” dividend of approximately four per cent. The company raised its dividend nine per cent and is in a “solid position” to continue repurchasing shares, he said.

Price target hikes and cuts

  • TD Cowen analyst Vince Valentini hiked his price target for BCE Inc. to $41 from $40 after the telco announced its joint data centre project with CoreWeave Inc. and Cerebras Cerebras Systems Inc. has a capacity of 800 megawatts, up from 500. Shares closed Friday at $35.43.
  • Raymond James analyst Stephen Li hiked his price target for Kraken Robotics Inc. (PNG:TSX) to $11 from $6.25 after it acquired Covelya Group, a supplier of subsea technology. Shares closed Friday at $8.93.
  • BMO Capital Markets analyst Joel Jackson hiked his price target for Nutrien Ltd. (NTR:TSX) to $123.22 from $116.49 on the belief that a closed Strait of Hormuz is stressing fertilizer supplies. He sees Nutrien as among the cleanest avenues for gains “considering methanol and nitrogen supply risks.” Shares closed Friday at $102.56.
  • Veritas Investment Research analyst Kathleen Wong hiked her price target for Loblaw Cos. Ltd. (L:TSX) to $70 from $67 on the belief that the chain’s “discount and drug flywheel should drive sustained share gains,” with Shoppers Drug Mart playing a key role. Shares closed Friday at $61.86.
  • National Bank of Canada Capital Markets analyst Shane Nagle hiked his price target for Wheaton Precious Metals Corp. (WPM:TSX) to $245 from $240 on an improved outlook with several projects — purchased when gold prices were much lower — slated to start production over the next few years. Shares closed Friday at $157.08.
  • CIBC Capital Markets analyst Ty Collin cut his price target for AutoCanada Inc. (ACQ:TSX) to $20 from $34 on earnings that missed estimates “by a wide margin.” Shares closed Friday at $17.15.
  • National Bank of Canada Capital Markets analyst Alex Terentiew hiked his price target for Highlander Silver Corp. (HSLV:TSX) to $14 from $11 on its recently acquired Corani silver project and Mercedes gold mine. Shares closed Friday at $6.76.
  • Canada to allow smaller companies to report financials twice per year
  • Lululemon forecasts weaker 2026 sales, says ‘more work to be done’

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.

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