Canadian software and tech stocks: the one-month rebound, Celestica’s quarter, valuation and targets

Nine liquid names — Shopify, Thomson Reuters, Constellation Software, Celestica, CGI, Descartes, OpenText, Topicus and Kinaxis — are about CA$554 billion of market value on the November 9, 2026 screener. Shopify alone is about CA$304 billion. Over the past month the peer median is about +18%, far ahead of the S&P/TSX Composite’s approximate +1.4%. Over one year the median is about −8%, against a Composite near +18%. Celestica is the exception inside the month: it is down about 29% over one month, and its October 26 earnings landed after the close in this table. Setup for this living note: a rebound that is real, a one-year hole that is also real, and a target column that has to stay in Canadian dollars.

Canadian software snapshot: market cap, P/E, yield and returns vs the TSX

Metric	Peer set (9)	vs TSX (approx.)
Combined market cap	~CA$547.2B	—
Median trailing P/E	38.3x	—
Median forward P/E	21.3x	—
Median indicated yield	1.19%	—
Median 1M price return	+18.3%	TSX ~+1.4%
Median 1Y price return	−6.6%	TSX ~+18.2%

Screener as of November 9, 2026 (CAD; merge tsx-2026-11-09.csv, 2,564 rows). Peer set: SHOP, TRI, CSU, CLS, GIB.A, DSG, OTEX, TOI, KXS. Medians skip blank cells; P/E medians skip non-positive multiples. Not in the November 9 export, so their rows still carry the previous build’s values: SHOP. The TSX column is the approximate index return carried from the October 26 build and was not re-pulled for this refresh.

November 9, 2026 refresh. Between the November 3 and November 9 screener files the median peer price moved +2.2%. Best: Topicus (+8.1%) and Kinaxis (+6.8%). Weakest: Celestica (−16.2%) and Thomson Reuters (−6.8%). The snapshot and every peer table below are on the November 9 file. Commentary paragraphs between the tables were written on the October 25 file and quote those figures unless they give a later date.

This is not an income sector. Constellation yields 0.17%. OpenText at 3.46% is the income name, and it is also the worst one-year software stock in the set after Topicus. Trailing P/E runs from OpenText at 11.0x to Shopify at 114.6x. The median of 38.8x is a growth multiple, not a bank multiple.

What is driving Canadian software and tech stocks: AI headlines, a hardware print and a November stack

November 9, 2026 update. AI-hardware stocks sold off after the November 3 U.S. midterms on fears that data-center approvals could slow; Celestica fell about 13% on November 5 with no company news, after reporting Q3 revenue up 83% to US$5.83 billion on October 26 and raising its 2026 outlook while cutting its free-cash-flow outlook to US$460 million from US$600 million. Between the November 3 and November 9 screener files Celestica moved −16.2% and Thomson Reuters −6.8%, while Topicus rose 8.1% and Kinaxis 6.8%; the peer median was +2.2%. Shopify reported on November 3: revenue of US$3.74 billion (+32%), just below estimates, GMV of US$119.15 billion below estimates and a low-thirties fourth-quarter growth guide; its shares fell 8.74% that day. Shopify is missing from the November 9 export, so its row still carries the previous build’s values. Calendar items below dated November 3–8 have since reported; this update summarizes only the results named here.

1. October 21, 2026 — Constellation names a Chief AI Officer. Daan Dijkhuizen, who also runs the Topicus operating group and VMS Ventures, became Chief AI Officer. The October 26 brief is the write-up. Constellation’s third-quarter release is November 6, with the call on November 9 at 8:00 a.m. ET. Second-quarter figures in that brief, in US dollars: revenue US$3.34 billion, up 17%, with organic growth about 3% (about 1% after the company’s FX adjustment). The one-month tape in the October 25 file is +22.1%. The one-year tape is still −9.2%.

2. October 22, 2026 — Thomson Reuters launches CoCounsel for tax and audit. The stock’s launch-day move was about +6.5% on the TSX. The October 25 brief is the write-up. Third-quarter results are November 3. The one-month screener return is +28.0%, the best in this set. The one-year return is still −24.6%. The guide discussed in that brief is roughly 8% organic growth, with the Big 3 segments nearer 9.5–10%.

3. October 26, 2026 — Celestica’s quarter, after this table’s close. Celestica reported third-quarter revenue of US$5.83 billion, up 83% from US$3.19 billion, GAAP EPS of US$3.26 (US$2.31 a year earlier) and adjusted EPS of US$3.30 (US$1.58). Adjusted operating margin was 8.5%. The 2026 outlook went to revenue of US$21.0 billion and adjusted EPS of US$11.55. The first 2027 outlook is revenue of US$40.0 billion, adjusted EPS of US$21.50 and an adjusted operating margin of about 9%. Free-cash-flow guidance for 2026 was cut to US$460 million from US$600 million, which the company tied to working-capital investment for 2027. The quarter also included the previously announced share offering for aggregate gross proceeds of US$3.45 billion. Management intends to file a new normal-course issuer bid after the current one expires on November 2, 2026, for up to 2.5% of the public float, if the TSX accepts it. The call and investor day were October 27 at 8:00 a.m. ET. All of those figures are US dollars. The $364.40 in the table is the October 23 TSX close, before this print. The October 26 close was lower. The one-month drop of about 29% was already in the price before the release.

4. November 3 — Shopify, the same morning as Thomson Reuters. Shopify said on October 6 that it will report the third quarter (period ended September 30) before the open on Tuesday, November 3, with a call at 8:30 a.m. ET. Shopify is more than half of this peer set’s market cap and it pays no dividend. The September 25 brief is the Meta AI-checkout note, on an older screener.

5. November 5 — OpenText. November 11 — CGI. OpenText said on October 8 that it will report first-quarter fiscal 2027 before the open on November 5, with a call at 8:00 a.m. ET (CEO Ayman Antoun, CFO Steve Rai). CGI’s fourth-quarter and fiscal 2026 webcast is November 11. CGI reports in Canadian dollars. Most of the other large names in this table report in US dollars. The revenue and earnings below are the CAD figures in the screener-style field, not a second conversion on top of the October 26 brief.

6. What this note leaves out on purpose. Crypto miners (Bitfarms, Hut 8) are a different industry. Lumine is the other Constellation spin-off and is left out so the table does not triple-count the same model; Topicus stays, because the October 26 brief included it and the TSX Venture line is liquid enough to show, with the venue labelled. Ritchie Bros. is auctions. MDA is space. Bombardier is aerospace. BlackBerry and Lightspeed are not the compounder set this page is built on.

Which Canadian software and tech stocks are leading and lagging

One month: Thomson Reuters (+28.0%) leads on the October 25 screener field, then Constellation (+22.1%) and OpenText (+21.1%). Celestica (−28.7%) is the only one-month loser, on an exchange-close series. The rebound the October 26 brief described — every name in its smaller peer set up over the month — still holds for the software rows. It does not hold for the hardware row.

One year: Kinaxis (+13.3%) is the leader, and Shopify (+1.2%) is the only other name above zero. Topicus (−32.6%) is the laggard, then OpenText (−28.5%) and Thomson Reuters (−24.6%). Constellation is −9.2% over the year after being +22.1% over the month. The sector story is a bounce inside a drawdown, not a new high.

Canadian software peer comparison: size, performance, valuation, dividends and targets

Peer set: Shopify (SHOP), Thomson Reuters (TRI), Constellation Software (CSU), Celestica (CLS), CGI (GIB.A), Descartes (DSG), OpenText (OTEX), Topicus (TOI) and Kinaxis (KXS). Topicus is listed on the TSX Venture Exchange, not the TSX. It is included because the October 26 Constellation brief used the same screener file and treated it as the listed European spin-off. Celestica is electronic manufacturing for cloud and AI hardware, not packaged software. It is here because that is the liquid TSX hardware name attached to the same spending cycle, and because the October 26 print is the newest fact in the group.

Canadian software overview: price, market cap, revenue and earnings

Company (Ticker)	Price	Market cap	Revenue (LTM)	Net income (LTM)
Shopify (SHOP)	$236.24	$303.9B	$18.3B	$2.7B
Thomson Reuters (TRI)	$158.85	$70.9B	$10.9B	$2.2B
Constellation (CSU)	$3,526.52	$73.4B	$17.5B	$1.3B
Celestica (CLS)	$292.16	$41.6B	$25.3B	$1.7B
CGI (GIB.A)	$117.74	$23.6B	$16.4B	$1.7B
Descartes (DSG)	$132.67	$11.3B	$1.1B	$260M
OpenText (OTEX)	$35.16	$9.0B	$7.3B	$889M
Topicus (TOI)	$104.78	$8.1B	$2.7B	$57.6M
Kinaxis (KXS)	$206.69	$5.4B	$833M	$120M
Average	—	$60.8B	$11.2B	$1.2B

Source: TSX screener merge tsx-2026-11-09.csv (2,564 rows, November 9, 2026) · CAD · LTM = last 12 months. Average includes every row. Not in the November 9 export, so their rows still carry the previous build’s values: SHOP.

Shopify is the index. Thomson Reuters and Constellation are the next tier, near CA$72–75 billion, with very different earnings: Thomson Reuters earned about CA$2.3 billion on CA$10.8 billion of revenue, Constellation about CA$1.3 billion on CA$17.5 billion. Celestica’s CA$21.6 billion of trailing revenue is the hardware scale, larger than Shopify’s revenue and a fraction of Shopify’s market cap. CGI is the Canadian-dollar IT-services name, CA$23.5 billion, with more trailing profit than Constellation (CA$1.7 billion versus CA$1.3 billion) at a third of the market cap. Topicus at CA$58 million of trailing profit is a spin-off, not a second Constellation.

Canadian software performance: returns from one month to ten years

Company (Ticker)	1M	3M	6M	YTD	1Y	5Y	10Y
Shopify (SHOP)	+17.8%	+49.7%	+38.7%	+5.4%	+1.2%	+34%	+3976%
Thomson Reuters (TRI)	+12.7%	+14.1%	+25.2%	−12.6%	−21.7%	+3%	+154%
Constellation (CSU)	+21.3%	+10.8%	+37.4%	+6.3%	−0.0%	+68%	+460%
Celestica (CLS)	−46.0%	−33.9%	−45.1%	−28.8%	−41.3%	+2102%	+1724%
CGI (GIB.A)	+19.0%	+13.0%	+27.0%	−7.1%	−6.6%	+4%	+86%
Descartes (DSG)	+18.3%	+23.1%	+32.5%	+9.6%	+9.9%	+29%	+389%
OpenText (OTEX)	+8.8%	−1.2%	+9.9%	−21.6%	−35.8%	−45%	−13%
Topicus (TOI)	+18.8%	+3.7%	+7.2%	−18.1%	−21.5%	−22%	+59%
Kinaxis (KXS)	+18.6%	+21.0%	+35.1%	+18.4%	+19.5%	+4%	+219%
Average	+9.9%	+11.1%	+18.7%	−5.4%	−10.7%	+242%	+784%

Source: TSX screener merge tsx-2026-11-09.csv (2,564 rows, November 9, 2026) · CAD · price returns. Bold = leader on 1M and on 1Y. Average skips blanks.

Year-to-date is the sober column. Kinaxis +14.7% and Descartes +9.1% lead. Topicus is −23.7%, OpenText −13.4%, Celestica −11.1%. Constellation’s year-to-date is only +2.5% after a one-month surge, which is what a stock looks like when the year was spent in a hole and October filled part of it.

Canadian software valuation: P/E, forward P/E, price to book and price to sales

Company (Ticker)	P/E	Fwd P/E	PEG	P/S	P/B	P/FCF
Shopify (SHOP)	114.6	87.7	—	16.71	16.92	94.2
Thomson Reuters (TRI)	32.1	24.8	—	6.76	4.32	23.5
Constellation (CSU)	56.4	19.7	1.04	4.18	12.75	20.2
Celestica (CLS)	19.9	11.5	0.33	1.68	4.18	47.0
CGI (GIB.A)	14.6	12.2	2.06	1.46	2.38	9.9
Descartes (DSG)	44.5	37.9	1.64	10.36	4.91	27.9
OpenText (OTEX)	9.9	6.4	0.19	1.24	1.49	7.6
Topicus (TOI)	—	21.3	—	4.60	9.94	18.9
Kinaxis (KXS)	48.8	30.9	0.18	6.46	9.94	27.7
Average	42.6	28.0	0.91	5.94	7.43	30.8

Source: TSX screener merge tsx-2026-11-09.csv (2,564 rows, November 9, 2026) · CAD. Average skips blanks; one large multiple can dominate a column average, so read the medians in the snapshot.

OpenText is the cheap stock on almost every column: 11.0x trailing, 7.1x forward, 1.31x sales, 1.66x book, 8.5x free cash flow. It is also down 28.5% over one year. CGI at 14.2x / 12.8x is the other reasonable multiple, and it reports in Canadian dollars. Constellation at 54.3x trailing and 20.6x forward is the compounder gap this whole sub-sector is priced on: you are paying a trailing premium for a forward multiple that assumes the acquisition machine keeps earning. Shopify at 114.6x trailing and 87.7x forward is a different planet, and that forward figure is this page’s estimate method, not a claim that the October 25 file printed 87.7. Celestica at 27.4x trailing and 59.1x free cash flow is the hardware warning: earnings ran ahead of cash, which is the same point as the cut to the 2026 free-cash-flow outlook.

Canadian software dividends: indicated yield and payout ratio

Company (Ticker)	Dividend / share	Yield (ind.)	Payout ratio
Shopify (SHOP)	—	—	—
Thomson Reuters (TRI)	$3.34	1.79%	71.3%
Constellation (CSU)	$5.56	0.17%	8.9%
Celestica (CLS)	$0.00	—	0.0%
CGI (GIB.A)	$0.62	0.59%	8.4%
Descartes (DSG)	$0.00	—	0.0%
OpenText (OTEX)	$1.52	3.65%	42.6%
Topicus (TOI)	$0.00	—	0.0%
Kinaxis (KXS)	$0.00	—	0.0%
Average	$1.38	1.55%	16.4%

Source: TSX screener merge tsx-2026-11-09.csv (2,564 rows, November 9, 2026) · CAD. DPS is annual; yield is indicated. Payout is trailing; negative payouts show as — and are left out of the average.

OpenText’s 3.46% is the only yield an income investor would notice, with a 42.6% payout. Thomson Reuters pays 1.70% and distributes about two-thirds of trailing earnings. Constellation’s C$5.56 dividend is 0.17% of a $3,395 stock, and the payout is under 9%. The bull case here is reinvestment, not the coupon.

Canadian software analyst targets: ratings, one-year targets and upside

Company (Ticker)	Rating	Price	Target 1Y	Upside	Analysts
Shopify (SHOP)	Buy	$236.24	CA$198.00	−16.2%	4
Thomson Reuters (TRI)	Buy	$158.85	CA$166.33	+4.7%	10
Constellation (CSU)	Strong buy	$3,526.52	CA$3,931.27	+11.5%	10
Celestica (CLS)	Strong buy	$292.16	CA$388.33	+32.9%	9
CGI (GIB.A)	Buy	$117.74	CA$124.00	+5.3%	12
Descartes (DSG)	Strong buy	$132.67	—	—	—
OpenText (OTEX)	Neutral	$35.16	CA$27.50	−21.8%	2
Topicus (TOI)	Strong buy	$104.78	CA$143.75	+37.2%	3
Kinaxis (KXS)	Strong buy	$206.69	CA$203.89	−1.4%	8
Average	—	—	CA$647.88	+6.5%	—

Rating = screener analyst rating on the November 9, 2026 file. Target 1Y and analyst counts are the MarketBeat TSE consensus figures (CAD) pulled October 27, 2026, not re-pulled in bulk for this refresh (Royal Bank spot-checked November 9, unchanged). Upside is the October 27 target versus the November 9 screener price. The dollar average mixes very different share prices; read the upside column.

Constellation is the clean CAD gap: CA$3,931.27 from 10 analysts, +15.8% versus $3,395. The same MarketBeat page’s high target is CA$4,400, which matches the RBC Outperform target the October 26 brief cited from October 23. The brief’s separate S&P Global average was C$3,954 from 12 analysts. Both are Canadian dollars. Neither is a reason to treat the US-listing targets below as Canadian dollars.

Thomson Reuters’ CAD target is under the price. CA$166.33 from 10 analysts is −3.5% versus $172.41. The October 26 brief’s S&P average was C$176.46 from 19, a small premium. Different panel, same message: the TSX price is already near the Canadian-dollar target. MarketBeat’s Nasdaq page, pulled the same day, is US$127.42 from 17 analysts. That is US dollars. It is not converted and not averaged.

Celestica’s CAD target is CA$388.33 from 9 analysts, +6.6% versus the October 23 close of $364.40. MarketBeat’s own live upside on that page was higher because the stock had already fallen by October 26. The NYSE page is a different panel: US$448.30 from 25 analysts. It is not the CAD target with a currency symbol swapped, and it is not in the average.

Three targets stay out of the average because the Canadian page is thin or empty, and the liquid consensus is a US listing:

• Shopify. The TSE page is CA$198 from 4 analysts, −16% versus $236.24. The Nasdaq page is US$177.28 from 49 analysts. Those are not the same number translated at the exchange rate. The US figure is not averaged with the CAD targets.
• OpenText. The TSE page is CA$27.50 from 2 analysts, −30% versus $39.14. The Nasdaq page is US$30.95 from 13 analysts. A two-analyst Canadian print that happens to sit near a US-dollar target is not the sector average.
• Descartes. The TSE page shows a Strong Buy rating from 5 analysts and no consensus price target. The Nasdaq page is US$100.33 from 15 analysts. Blank in the CAD column, same treatment as South Bow on the midstream page.

Topicus at CA$143.75 from 3 analysts (+49%) is the thin TSX Venture target. It is shown because the October 26 brief also used a three-analyst Canadian target (that one was C$142.29). It is not in the average.

Kinaxis at CA$203.89 is only +2.2% above $199.55, with 8 analysts. The one-year leader is the name the Street has the least room on.

How the compounders differ from Shopify, Celestica and the spin-off

Constellation is the acquisition compounder: a token dividend, a forward multiple far below the trailing multiple, and a one-year drawdown that October only partly repaired. Topicus is the European spin-off on the Venture exchange. It is not a second copy of the parent. Trailing profit is CA$58 million, the one-year return is the worst in the set, and there is no ten-year history. CGI is the IT-services operator that reports in Canadian dollars and screens at a market multiple. OpenText is the cheap, high-yield (for this group) enterprise-software name that has not participated in the one-year recovery. Descartes and Kinaxis are the smaller software compounders, both without a dividend, Kinaxis the one-year price leader.

Thomson Reuters is information services with a legal and tax franchise, not a vertical-market software roll-up. The CoCounsel launch is why it led the month. The CAD target under the price is why “led the month” is not the same sentence as “cheap.”

Shopify is the platform. It is half the market cap of this note and it does not belong in a dividend average. Celestica is the factory. Its five-year chart is a re-rating (+3,060%). Its one-month chart is a giveback (−28.7%), and the October 26 outlook raised revenue while cutting the free-cash-flow guide.

Bull case for Canadian software and tech stocks

1. The one-month rebound is broad. Eight of the nine names are up over the month, and the median is about +18% against a TSX near +1%. Constellation’s +22% month and Thomson Reuters’ +28% month are in the October 25 file, not a rounding choice.

2. Constellation still has a CAD gap, and OpenText and CGI are not priced like Shopify. +15.8% to CA$3,931 is a ten-analyst Canadian target. OpenText at 7.1x forward and CGI at 12.8x forward are the valves if a buyer does not want 88x forward at Shopify or 54x trailing at Constellation.

3. Celestica’s 2027 outlook is a number, not a slogan. US$40 billion of revenue and US$21.50 of adjusted EPS are management’s initial 2027 outlook, in US dollars, from the October 26 release. The stock’s October 23 price does not include the reaction to that release. The reaction, through October 26, was down, not up. That is a fact about the tape, not a forecast.

Bear case and risks for Canadian software and tech stocks

1. The one-year hole is still there. Median about −8%, with Topicus, OpenText and Thomson Reuters down more than 24%, against a TSX up about 18%. A one-month bounce can be short covering and multiple repair. It is not a new base until the one-year column turns.

2. The forward P/E on this page is a method, and the file’s own forward P/E was lower for the compounders. Constellation’s file print was 18.95, not the 20.6 in this table. Thomson Reuters was 26.37, not 28.2. Using the higher figure does not make the stocks cheaper. Shopify at 87.7x on this method is a reminder that “forward” still means expensive when the estimate is not a step-change.

3. US targets and thin CAD pages will mislead anyone who averages them. Descartes has no TSE price target. Shopify’s four-analyst CA$198 and OpenText’s two-analyst CA$27.50 are not the 49-analyst and 13-analyst US pages. Celestica’s NYSE target is a different panel from the nine-analyst CAD target. Mix those and the upside is fiction.

What to watch next for Canadian software and tech: November 3, then Constellation’s week

1. November 3, 2026 — Shopify before the open, call 8:30 a.m. ET, and Thomson Reuters’ third quarter the same day. Half the market cap of this note, plus the one-month leader, on one morning.

2. November 5 — OpenText first-quarter fiscal 2027, call 8:00 a.m. ET. The cheap stock. The question is whether 7x forward earnings is a value or a reason the one-year chart is −28%.

3. November 6 release, November 9 call — Constellation. The Chief AI Officer appointment is already public. The quarter is the organic-growth number the October 26 brief already taught readers to watch (low single digits, before the acquisition math).

4. November 11 — CGI. The Canadian-dollar services name, at a multiple the rest of this table does not have.

5. Celestica after the October 26 print. The October 23 row is stale by two sessions on purpose. The next useful check is whether the US$460 million free-cash-flow outlook and the US$40 billion 2027 revenue outlook can sit in the same story, and whether the TSX price holds the post-release level or fills more of the one-month gap.

Related StockSummarizer videos and briefs

• Constellation Software — the Chief AI Officer · Watch on YouTube
• Thomson Reuters — the CoCounsel tax and audit launch · Watch on YouTube
• Shopify — the Meta AI checkout note · Watch on YouTube
• Celestica — the September 12 screener note (no YouTube on that brief; the price in it is the September 12 close, not October 23)

CGI, Descartes, OpenText, Topicus and Kinaxis are not in the coverage log yet. The Constellation brief’s peer table is the October 25 file and is the source for the screener-field returns marked above. Its target column used S&P Global via stockanalysis.com. This page uses MarketBeat, and it does not average US dollars with Canadian dollars.

Data notes: screener date, peer set and where the targets come from

November 9, 2026 refresh. The snapshot strip and every peer table now come straight from merge tsx-2026-11-09.csv (2,564 rows): prices, market caps, LTM revenue and net income, returns, multiples, dividends and screener ratings. Average rows skip blanks. Analyst targets were not re-pulled in bulk: Target 1Y and analyst counts are still the MarketBeat TSE figures pulled October 27, 2026 (a November 9 spot-check of Royal Bank’s MarketBeat page showed the consensus unchanged at C$292.86 on 12 analysts, with the latest broker action dated September 3); upside compares those targets with the November 9 price. Rows for tickers missing from the November 9 export keep the previous build’s values and are named under the snapshot. The November 9 update paragraph uses the news and company releases listed under Sources, checked November 9, 2026; the TSX comparison column is the approximate index return carried from the October 26 build. The method notes below describe the October 27 build and still apply to the commentary written on it.

Prices for Constellation ($3,395.00), Thomson Reuters ($172.41), CGI ($114.81), Descartes ($131.57), OpenText ($39.14) and Topicus ($96.48) are the October 23, 2026 closes printed from merge tsx-2026-10-25.csv in the October 26 Constellation brief. Shopify, Celestica and Kinaxis prices are the same October 23 TSX close from the exchange history. The file itself is not in this checkout. Market cap, revenue, net income, trailing P/E, P/S, P/B, P/FCF, PEG, DPS, yield and payout are the TradingView Canada fields that reproduce that file on those published rows, with market cap scaled to the October 23 close. Rounding on this page is the sector-page convention (P/E to one decimal), so Constellation’s P/E reads 54.3 rather than the brief’s 54.29, and net income reads $1.3 billion rather than $1.33 billion. P/S can sit about 0.02 away (Constellation 4.12 here, 4.13 in the brief). Forward P/E is October 23 price ÷ TradingView’s next-fiscal-year EPS consensus, pulled October 27, 2026. It is not the file’s forward-P/E cell; the brief’s file figures are listed under the valuation table. Performance for the six brief names, other than year-to-date, is the screener field from that brief. Year-to-date for every name, and all windows for Shopify, Celestica and Kinaxis, are exchange-close price returns. Topicus’s ten-year cell is blank because it has not traded for ten years. Peer rule: liquid compounders and the data-centre hardware name — SHOP, TRI, CSU, CLS, GIB.A, DSG, OTEX, KXS, plus TOI on TSXV. Excluded: Bitfarms, Hut 8, Lumine, BlackBerry, Lightspeed, Ritchie Bros., MDA Space, Bombardier. Average rows include all nine names and skip blank cells. The five- and ten-year averages are dominated by Celestica and Shopify. Target 1Y is MarketBeat’s Canadian-listing consensus in CAD, pulled October 27, 2026. The average uses only targets with at least five analysts (CSU, TRI, CLS, GIB.A, KXS). Shopify (CA$198, 4 analysts), OpenText (CA$27.50, 2) and Topicus (CA$143.75, 3) are excluded from the average. Descartes has no TSE consensus price target. US-listing MarketBeat consensuses pulled the same day and not converted: Shopify US$177.28 (49 analysts, Nasdaq), OpenText US$30.95 (13, Nasdaq), Descartes US$100.33 (15, Nasdaq), Celestica US$448.30 (25, NYSE), Thomson Reuters US$127.42 (17, Nasdaq). Screener ratings are in the analyst table. Several companies report in US dollars or euros; revenue and earnings are the CAD field that matched the October 26 brief, not a further FX adjustment. Celestica’s October 26 results are after the October 23 close and are not in the price. TSX Composite 1M/1Y are approximate public index price returns near October 26, 2026.

Sources for the AI headlines, Celestica’s quarter, targets and the screener

• TSX screener merge tsx-2026-10-25.csv, as printed in the StockSummarizer Constellation brief dated 2026-10-26, for CSU, TOI, TRI, GIB.A, DSG and OTEX
• TradingView Canada scanner and TSX closes for October 23, 2026, for SHOP, CLS and KXS, and as the cross-check on the published rows
• Constellation Software, Chief AI Officer appointment, October 21, 2026; Q3 release November 6 and call November 9, 2026, 8:00 a.m. ET — StockSummarizer brief dated 2026-10-26
• Thomson Reuters CoCounsel tax and audit launch, October 22, 2026 — StockSummarizer brief dated 2026-10-25
• Shopify, third-quarter 2026 results scheduled before the open on November 3, 2026, call 8:30 a.m. ET (company announcement October 6, 2026)
• OpenText, first-quarter fiscal 2027 results before the open on November 5, 2026, call 8:00 a.m. ET (company announcement October 8, 2026)
• Celestica, third-quarter 2026 results, October 26, 2026: revenue US$5.83 billion, GAAP EPS US$3.26, adjusted EPS US$3.30, 2026 outlook revenue US$21.0 billion and adjusted EPS US$11.55, 2026 free cash flow US$460 million, 2027 outlook revenue US$40.0 billion and adjusted EPS US$21.50; offering gross proceeds US$3.45 billion; NCIB intention after November 2, 2026; call October 27, 2026, 8:00 a.m. ET
• CGI fourth-quarter and fiscal 2026 webcast, November 11, 2026
• MarketBeat forecast pages pulled October 27, 2026: TSE for CSU, SHOP, TRI, CLS, GIB.A, DSG, OTEX and KXS; CVE for TOI; Nasdaq for SHOP, OTEX, DSGX and TRI; NYSE for CLS
• S&P/TSX Composite approximate 1M/1Y price returns (public index trackers near October 26, 2026)
• StockSummarizer coverage log — Constellation brief 2026-10-26; Thomson Reuters brief 2026-10-25; Shopify brief 2026-09-25; Celestica brief 2026-09-12
• CNBC and Quartz, Shopify Q3 2026 results, November 3, 2026; Kalkine and TIKR coverage of Celestica, November 5–7, 2026
• TD Securities, Weekly Bottom Line, November 6, 2026 (WTI, copper, gold, Canada 10-year yield); Baystreet.ca and Investcom TSX close reports, November 6, 2026 (S&P/TSX Composite 35,789.09, +0.48% on the week; October unemployment rate 6.7%)

Media credits

Wikimedia Commons photographs, cropped to 16:9 and resized for this page. No AI-generated images were used. Company logos and video thumbnails on linked stock summaries keep the credits on those pages.

• Hero: “Thomson Reuters (53975602402)” by Can Pac Swire, Toronto, CC BY-SA 2.0, via Wikimedia Commons. Former Southam Press Building, part of the Thomson Reuters head office at 19 Duncan Street, Toronto.
• Kennedy Road: “Thomson Reuters building on Kennedy Road” by Jason Zhang (Hiàn), CC BY-SA 3.0, via Wikimedia Commons. Scarborough.

By Andrew · stocksummarizer.com