AnalystsInsight

Wayne Lam (TD Cowen): Analyst Track Record and Price‑Target Accuracy

How often Wayne Lam’s price targets were reached, how fast, and what the stocks did after each call: a 7‑year backtest of 10 ratings, compared with the average Wall Street analyst.

Reviewed by:David, Senior AnalystPublished Oct 12, 2026Updated Oct 18, 20263 min readHow we research

What changed since Oct 12

Exent re-checks this page every day. Ratings appear 30 days after they are published; live calls are in Gems.

+1 new rating (TSX-EQX)

Key takeaways

Wayne Lam ranks #724 of 1,000 analysts in Exent’s scoring (4.7★).
100.0% of price targets were reached over 7 years, versus 52.4% for the average analyst.
Median time to reach a target: 30 days; 75.0% of calls were up 12 months later.
Most‑covered stocks: TSX-DPM, TSX-TXG, TSX-EQX, TSX-WDO.
Free on Exent: Wayne Lam’s full record, with ratings 3 days after publication.

In this article

Wayne Lam’s track record at a glance
How fast price targets were reached
Stocks Wayne Lam covers most
Wayne Lam’s latest ratings
How Exent scores analysts

Wayne Lam’s track record at a glance

Wayne Lam of TD Cowen ranks #724 of the 1,000 analysts Exent scores, with a 4.7★ rating and a focus on materials. Over a 7‑year lookback, 100.0% of Wayne’s price targets were reached, 47.6 points above the 52.4% average across all analysts.

Metric	Wayne Lam	All analysts
Price‑target hit rate	100.0%	52.4%
Median days to hit target	30 days	91 days
Calls up after 12 months	75.0%	64.0%
Median 12‑month return of calls	+251.8%	+13.4%
Hit rate, last 2 years	100.0%	—
Average worst drop after a call	−20.1%	—
Ratings in the sample	10	—
Stocks covered	19	—

The full records of Exent’s top 90 analysts and the top 50 of each sector, and the stocks where several of them agree right now, are members‑only in Exent Gems.

See the top-ranked analysts in Gems

How fast price targets were reached

Time to reach the target	Wayne Lam
Under 30 days	50.0%
30–90 days	50.0%
90–180 days	0.0%
Over 180 days	0.0%

Share of the targets that were reached, by how long they took. Targets are usually set for 12 months.

Stocks Wayne Lam covers most

Stock	Ratings in the sample
TSX-DPM	45
TSX-TXG	44
TSX-EQX	38
TSX-WDO	36
TSX-EDV	35
TSX-KNT	32
TSX-OGC	30
TSX-LUG	30

In the past year Wayne’s ratings were 87% Buy, 13% Hold and 0% Sell.

Wayne Lam’s latest ratings

Date	Stock	Action	Rating	Price target
Sep 17, 2026	TSX-EQX	Reiterated: Buy	Buy	$20.00
Sep 11, 2026	TSXV-TAU	Initiated Coverage: Buy	Buy	$5.00
Sep 8, 2026	TSXV-TAU	Initiated Coverage: Buy	Buy	$5.00
Jul 15, 2026	TSX-TALA	Initiated Coverage: Buy	Buy	$12.00
May 20, 2026	TSX-OLA	Upgraded: Buy	Buy	$24.00
May 20, 2026	TSX-OLA	Upgraded	Buy	$24.00
May 12, 2026	TSX-PAAS	Upgraded	Hold → Buy	$100.41
May 12, 2026	TSX-PAAS	Upgraded: Buy	Buy	$101.98
May 11, 2026	TSXV-ARTG	Downgraded	Buy → Hold	$38.00
May 11, 2026	TSXV-ARTG	Downgraded: Hold	Hold	$38.00
Mar 31, 2026	TSX-SKE	Reiterated: Buy	Buy	$49.00
Dec 2, 2025	TSX-EQX	Reiterated	Buy	$22.00

Sep 17, 2026
Stock
TSX-EQX
Action
Reiterated: Buy
Rating
Buy
Price target
$20.00
Sep 11, 2026
Stock
TSXV-TAU
Action
Initiated Coverage: Buy
Rating
Buy
Price target
$5.00
Sep 8, 2026
Stock
TSXV-TAU
Action
Initiated Coverage: Buy
Rating
Buy
Price target
$5.00
Jul 15, 2026
Stock
TSX-TALA
Action
Initiated Coverage: Buy
Rating
Buy
Price target
$12.00
May 20, 2026
Stock
TSX-OLA
Action
Upgraded: Buy
Rating
Buy
Price target
$24.00
May 20, 2026
Stock
TSX-OLA
Action
Upgraded
Rating
Buy
Price target
$24.00
May 12, 2026
Stock
TSX-PAAS
Action
Upgraded
Rating
Hold → Buy
Price target
$100.41
May 12, 2026
Stock
TSX-PAAS
Action
Upgraded: Buy
Rating
Buy
Price target
$101.98
May 11, 2026
Stock
TSXV-ARTG
Action
Downgraded
Rating
Buy → Hold
Price target
$38.00
May 11, 2026
Stock
TSXV-ARTG
Action
Downgraded: Hold
Rating
Hold
Price target
$38.00
Mar 31, 2026
Stock
TSX-SKE
Action
Reiterated: Buy
Rating
Buy
Price target
$49.00
Dec 2, 2025
Stock
TSX-EQX
Action
Reiterated
Rating
Buy
Price target
$22.00

Wayne’s ratings are free on Exent 3 days after publication. Exent Gems has them the same day, with the calls of the top‑ranked analysts and the stocks where several of them agree.

See the top-ranked analysts in Gems

How Exent scores analysts

Exent replays every rating with a price target over a 7‑year lookback: was the target reached, how long it took, and what the stock returned 1, 3, 6 and 12 months after the call. The star rating and rank combine success rate, average return and the number of ratings, so a few lucky calls do not make a top analyst. Statistics as of Jun 24, 2026; ranking updated Oct 20, 2026. How accurate are analyst price targets overall?

Past performance does not guarantee future results. Historical figures are calculated by Exent from market data and are for education only; they are not investment advice or a recommendation to buy or sell any security.

Follow the analysts with the best records

Exent Gems shows Wayne Lam’s live ratings and those of the top‑ranked analysts, without the 30‑day delay used on this page.
Gems are the stocks where several 4★+ analysts agree: Exent’s shortlist of high‑conviction ideas.
Check any idea against your own portfolio: correlation, concentration and crash exposure before you buy.

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Exent is our product. Educational content, not investment advice.

Frequently asked questions

By Exent’s scoring Wayne Lam ranks #724 of 1,000 with a 4.7★ rating. 100.0% of price targets were reached over a 7-year lookback (all analysts: 52.4%), and 75.0% of calls were up 12 months later. Past accuracy does not guarantee future accuracy.

Wayne Lam’s success rate is 56.2% by the ranking source and 100.0% by Exent’s price-target hit-rate backtest, with a median of 30 days to reach a target.

Wayne Lam (TD Cowen) covers 19 stocks, mostly in materials. The most frequently rated are TSX-DPM, TSX-TXG, TSX-EQX, TSX-WDO, TSX-EDV.

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DISCLAIMER: Exent AI is an informational research platform and does not provide investment advice, financial advice, or act as an investment adviser, broker-dealer, or fiduciary. All content, analytics, and model outputs are provided for educational and informational purposes only and should not be relied upon as a recommendation to buy, sell, or hold any financial instrument. Investing involves risk, including the possible loss of principal. Exent AI does not execute trades, hold customer funds, or provide brokerage services. Past performance and hypothetical results are not indicative of future results. Third-party data and AI-generated outputs may be incomplete or inaccurate.

What changed since Oct 12

Key takeaways

Are Analyst Price Targets Accurate? 7 Years of Data

How to Follow Wall Street Analysts the Smart Way: Track Records, Not Headlines

What Are Exent Gems? Top‑Analyst Agreement Explained