-- 加拿大丰业银行表示，加拿大将于周四公布2月份的国内生产总值（GDP）数据以及3月份的初步估算数据。 加拿大统计局最初预测2月份GDP环比增长0.2%。该行指出，更新后的估算值仍与此大致相同，但投资者也能从中获得有关各行业驱动因素的重要细节。 丰业银行表示，3月份GDP的初步指引可能更有意义，尽管目前尚无详细信息，但小幅增长“并非不可能”。 最终结果将进一步影响基于月度GDP的生产/收入基础对第一季度GDP增长的预测。该行指出，实际增长率可能接近加拿大央行1月份货币政策报告中1.8%的预测值，但该预测值是基于支出基础的。第四季度GDP超过4%的库存拖累可能会逆转，成为额外的利好因素。 关键在于，根据零售销售量，第一季度消费者商品支出出现了强劲反弹。加拿大丰业银行补充道，认为经济对利率不敏感的观点是不成立的，这种观点主要是由于对多伦多和温哥华公寓市场疲软的原因存在错误理解而导致的。
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Mining & Metals
FirstService Price Target Cut to US$200.00 at Stifel Canada
Stifel Canada cut its price target on the shares of FirstService (FSV.TO, FSV) shares to US$200.00, from US$215.00 even though the company reported "solid" first quarter results.Analyst Daryl Young, who is maintaining a buy rating on the shares, says overall, the macro environment remains tepid which is stymying a more "fulsome" re-acceleration of results, but FirstService should still be able to grind out mid to single digit growth (plus upside from tuck-ins and potential restoration storm-revenues)."We view the stock as trading at a trough valuation on trough estimates."Price: $199.36, Change: $-0.68, Percent Change: -0.34%
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Mining & Metals
RBC Cuts Westport Fuel Systems' Price Target to US$1.75 From US$2.00
RBC Capital Markets lowered its price target on the shares of Westport Fuel Systems (WPRT.TO, WPRT) to US$1.75 from US$2.00 on Friday after the company reported its fourth-quarter financial results on Thursday.RBC has a sector-perform rating on the shares of the company."4Q25 results came in above expectations on revenue but below on margins due to impairments," said RBC.Focus continues to be on cash burn, cost management, liquidity, and growth opportunities now that the business is smaller and more focused, noted RBC.The company should benefit from new lower-cost production this year, following the facility change over in 4Q25, RBC further noted and added that WPRT reaffirmed its strategy to capitalize on commercial opportunities in key markets for hydrogen and for NG heavy-duty transport."We think proof points of growth are needed in addition to the self-help initiatives," said RBC.The company started production at key facilities in Ontario and China, noted RBC."Although the hydrogen industry remains muted, China could be the fastest growing market internationally and mgmt indicated expectations for volumes to pick up," added RBC. "The China facility will enable local competition with local costs and suppliers."Price: $2.71, Change: $-0.01, Percent Change: -0.37%
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Oil & Energy
US Natural Gas Update: Futures Rise Despite Bearish Storage Data, Mild Weather
US natural gas futures rose in midday trading on Monday as escalating geopolitical tensions and supply disruptions in key LNG markets lifted global price expectations.The front-month Henry Hub contract and the continuous contract both rose by 2.54% to $2.59 per million British thermal units.US natural gas futures stayed near an 18-month low, pressured by rising inventories and mild weather, according to Trading Economics.Storage levels climbed to 8% above seasonal norms for the week ended April 24, up from 7% a week earlier, while the Energy Information Administration reported a 103 billion cubic feet injection for the week ended April 17, above forecasts, last year's 77 Bcf build, and the five-year average of 64 Bcf, Trading Economics said.In the US, natural gas prices had faced recent pressure, with prompt-month Henry Hub futures falling last week alongside declines across the forward curve, as production and demand remained largely steady, according to NRG Energy.US supply fundamentals were steady, with production near 106.5 Bcf/d and demand around 102 Bcf/d, while weather-driven heating demand fluctuated and LNG feedgas eased, NRG Energy said.Imports from Canada declined to 4.7 Bcf/d from 5.5 Bcf/d the previous week, NRG Energy added.Mild weather is expected to curb demand over the course of the week. "Mild weather continues to suppress broad demand, with only residual heating load in northern markets and limited early cooling demand nationally," Pinebrook Energy Advisors said in a daily note.According to NatGasWeather, the Rockies and Northern Plains are expected to be mild to cool over the next few days as weather systems move through, bringing showers and highs in the 50s-60s.The rest of the US is projected to be pleasant to warm, with highs in the 60s to 80s, except for hotter conditions in Texas, where temperatures will reach the 90s, NatGasWeather said. Cooler air is also forecast to spread across the Midwest, Ohio Valley, and Northeast later in the week, extending into Texas and the South, with highs generally in the 60s to 70s and locally in the 80s.Overall, demand is expected to be moderate over the next seven days, according to NatGasWeather.Meanwhile, in the Middle East, Iran has reportedly proposed easing restrictions on transit through the Strait of Hormuz if the US lifts economic and military pressure and agrees to end hostilities, while postponing discussions on its nuclear program.