Canelos only 23 years old, he has plenty of time to grow as a fighter and maybe into the middleweight division. Right now he better not even think about middleweight, let him get his bearings back at jr. middle.
Got a decent little resume at 154. All based off the Trout win pretty much. Whole lot of flash over faded guys but he does have a great depth of that. He was the legit and clear #1 JMW entering the fight.
He's not 5'7 there's nobody else to fight at 154 unless he fights Erislandy Lara, he is a middleweight. Look at the size of his legs.
There's only 2 big money fights left for him at Light Middle which would be Victor Ortiz who is big enough to move up to 154lbs and Miguel Cotto...both need to pick up wins first though. The rest of the 154 fighters like Lara and Carlos Molina are high risk low reward fights. Possible match-ups that would be winnable for him would be Peter Quillan and Darren Barker. He needs to stay away from GGG who would wipe the floor with him. The two big money fights for him at Middleweight would be Sergio Martinez and a mega fight against JC jr.