National Bank's Top Picks and Earnings Updates

National Bank has made several updates and changes to its coverage of various companies, including Strathcona Resources, Tenaz Energy, Triple Flag, and SSR Mining. The bank maintained an Outperform rating for Strathcona Resources and raised its price target to $42.00. For Tenaz Energy, National Bank kept the Outperform rating and raised the price target to $24.00. Triple Flag's Outperform rating was maintained, but the target was trimmed to C$39 from $40 due to delayed deliveries from ATO. National Bank also upgraded NuVista Energy to Outperform and raised the price target for SSR Mining by more than $4. The bank kept its Buy rating for BCE and raised the 12-month price target to C$161 from $152 at UBS. National Bank noted that BCE's Q2 revenue beat expectations, with wireless revenue better and wireline subs worse. The bank also updated its guidance. Additionally, National Bank noted that Toronto's home sales improved for the fourth consecutive month in July, and Denison Mines valued its Midwest Main Deposit in Saskatchewan at $965 million. The bank raised the price targets for Parkland and Eldorado Gold, and entered into a new and expanded supply agreement with First Solar. National Bank also noted that Canada's merchandise trade weighed heavily on GDP growth in Q2 and provided an update on Terronera Mine startup. The bank bought The Singing Machine Company and raised the price targets for TransAlta, Enbridge, and AltaGas. National Bank kept its Stock Perform rating for Telus and raised the 12-month price target to C$23. The bank also noted that Canadian labor demand is inconsistent with June hiring surge. Finally, National Bank kept its Sector Perform rating for Primaris REIT and edged up the target to C$15.75 from $15.50.