Business · Markets · 2 days ago
Canada’s new defence agency could drive some TSX stocks, analyst says
Canada has created a Defence Investment Agency, which an analyst says could help drive some stocks listed on the Toronto Stock Exchange.
The available details do not identify all the stocks the analyst has in mind.
Atco Ltd.
is one company discussed, and it is shifting its focus after agreeing to sell its Canadian Utilities subsidiary to Emera Inc.
for $14.3 billion.
Atco plans to speed up growth in housing, defence and industrial services.
The sale announcement sent Atco shares up 10 per cent during the week, before some of the gains were lost.
National Bank analyst Patrick Kenny raised his price target for Atco shares to $93 from $79.
The agency’s effect on these companies is not described further.
National Bank of Canada Capital Markets analyst Patrick Kenny says Canada’s new Defence Investment Agency could be a driver for some TSX-listed stocks.
The Financial Post article identifies Atco Ltd. as its stock of the week.
Atco shares rose 10 per cent during the week before giving back some gains.
Atco announced on Oct. 5 that it would sell Canadian Utilities Inc. to Emera Inc. for $14.3 billion.
Kenny raised his price target for Atco to $93 from $79, citing the company’s available funds and growth focus.
- Who
- National Bank of Canada Capital Markets analyst Patrick Kenny and Atco Ltd.
- What
- Kenny said the Defence Investment Agency could drive some TSX stocks; he raised his Atco price target to $93 from $79.
- When
- The article was published on Oct. 9, 2026. Atco announced the sale on Oct. 5.
- Where
- Canada; Atco is listed on the Toronto Stock Exchange.
- Why
- Kenny said the agency could support stocks, while Atco plans to accelerate growth in its housing, defence and industrial services businesses.
This story does not have two clearly opposing sides.
new Atco
Atco announced it would sell Canadian Utilities Inc. to Emera Inc. for $14.3 billion.
The Financial Post published its report on the agency and TSX stocks.
- Atco share gain
- 10 per cent during the week
- Sale price
- $14.3 billion
- Buyer
- Emera Inc.
- Atco price target
- Raised to $93 from $79
- Funds available
- $700 million, including an injection from Emera, plus $250 million in Emera shares
Sources
Related news
Canada loses 68,000 jobs in September as unemployment rate rises to 6.5%
Shell to buy 30% stake in proposed Bay du Nord oil project
Court dismisses Tim Hortons class-action lawsuit
GM recalls more trucks over side-curtain airbag risk
Stelco owner ready to fight Canada over planned Hamilton layoffs
Stelco says it will proceed with Ontario layoffs despite Ottawa's warning
Geely plans to start selling cars in Canada in 2027
Kevin's Natural Foods turkey gravy recalled over undeclared mustard
Roblox resale earnings helped 25-year-old buy a Windsor home
Moms Offering More and Archewell launch crewneck supporting Alliance for Moms
Research links protected workloads to stronger workplace performance
