Analysts have upgraded price targets for Kraken Robotics and Calian Group as U.S. naval operations and Canada’s defence budget expansion drive new orders. At the same time, Canada’s Big Six banks posted solid second‑quarter results, prompting analysts to keep or raise their targets.

Kraken Robotics secures roughly $40 million in orders after Strait of Hormuz mines sweep

Kraken Robotics Inc., based in St. John’s, logged about $40 million in contracts over the past six weeks,a spike linked to U.S. navy mine‑clearing missions in the Strait of Hormuz. desjardins analyst Benoit Poirier called the opportunity “one of the most compelling” in his coverage and lifted his price target to $14, noting that the stock trades at a 60 % discount to peer drone and defence companies. he also highlighted the pending acquisition of Covelya Group Ltd., which would deepen Kraken’s defence exposure.

ATB Cormark sees Kraken as a maritime‑robotics champion despite Kongsberg competition

ATB Cormark Capital Markets echoed the bullish view, positioning Kraken as a potential leader in maritime robotics while acknowledging competition from Norway’s Kongsberg Maritime. The firm’s analysis underscores the strategic value of Kraken’s autonomous underwater vehicle platform in a market that is still nascent but rapidly expanding.

Big Six banks keep momentum with raised targets after Q2 earnings

Canada’s major banks all reported earnings that beat expectations, prompting analysts to maintain or increase their price targets. National Bank’s Gabriel Dechaine kept his RBC target at $271 after a 7 % dividend hike and share buybacks. tD’s target rose to $162 on stronger domestic performance, while RBC’s Darko Mihelic lifted BMO to $230 and CIBC to $167 following solid results. BMO’s Sohrab Mohavedi and Scotiabank’s Mike Rizvanovic also left their targets unchanged, citing modest EPS beats and steady operating metrics.

Calian Group earns $98.50 target at CANSEC as Canada pivots to new defence priorities

At the CANSEC defence conference in Ottawa, ATB Cormark analysts highlighted Calian Group Ltd.’s role in supplying composite materials, GNSS technology and a new communications bridge for the Canadian Air Force.. The analysts set a price target of $98.50, above the stock’s closing price of $92.13 and near the 12‑month consensus of $93.21, suggesting the market has yet to fully price in Calian’s growth prospects.

Unanswered: How will Kraken’s Covelya acquisition affect its valuation?

The source does not detail the timing or financial terms of Kraken’s planned Covelya purchase, leaving analysts uncertain about the exact impact on earnings per share and whether the $14 target fully reflects the integration risk.