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Ear on the Street --- Jan. 16 20098 J* l% S: S7 D9 V! _9 V
" t( X2 o/ e. |+ FAbsolute Software (ABT : TSX : $3.36)
; t) W, N! t2 P7 |6 ~Bracing for a tough few quarters+ o; X5 M, U; M0 u3 G; h% H
Canaccord Capital maintains "hold", 12-month target price is $4.50
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Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)$ F- V* m; a, J- o, @
Growth outlook, challenging pipeline and high cost structure make future unclear
; `' n. D+ l5 C, H# X8 Z8 p/ k& I6 aBlackmont Capital continues "hold", 12-month target price is lowered to $48.00
( R, z" i6 Z& \! YTD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00
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Astral Media (ACM.A : TSX : $22.98)7 J3 w% D8 ]9 G, E& `/ x& A6 [
Released Q1/09 results: strong, in light of challenging operating environment
' f7 {4 R2 z3 W+ rBMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00: _; H5 q0 g4 E
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00+ W' F& M) r3 S- N# [+ y) v
GMP Securities maintains "buy", 12-month target price is reduced to $30.00 K- a3 K3 ?& r" y8 N+ N
RBC Capital Markets continues "outperform", 12-month target price is raised to $31.00
2 b9 y6 z5 z# ~/ X0 BScotia Capital Markets continues "sector outperform", 12-month target price is $30.00
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Agnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)$ v }' x1 N1 I, P: ^+ {1 Y" G
Well positioned with gold production forecast to double this year and next
! `7 u0 ^6 \" x# G: I Y& wBlackmont Capital continues "buy", 12-month target price is lowered to $83.00+ ^: h6 b% V! D6 n! L+ x0 X
TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00
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ARC Energy Trust (AET.UN : TSX : $17.15)
i9 ^1 l2 n. |, xReduced distributions by 20%; capex also cut
3 ~ \( M( C# MRBC Capital Markets continues "outperform", 12-month target price is $19.00
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( ]6 S$ O1 X1 K0 N; B. UAndean Resources (AND : TSX : $0.75)
0 u# w3 @% V8 v+ |" XAnnounced F09 outlook3 A- t( @4 }( Q4 M, Z/ b
Paradigm Capital continues "speculative buy", 12-month target price is $2.25
" |. ]/ p- o1 T4 H% q. m& H0 STD Newcrest downgrades to "hold", 12-month target price is cut to $1.00% s5 @$ ~3 ], U3 \
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Bombardier Inc. (BBD.B : TSX : $4.65)
8 D& T3 u, \' H+ ]; K Y" V7 N& BRising challenges in Aerospace4 `! g2 i5 W! `% ^1 B- h
GMP Securities continues "buy", 12-month target price is $8.00) F9 D* h, e u; _( r2 R1 _0 c
# o5 T# Y$ X7 I+ U9 O3 hBank of Montreal (BMO : TSX : $31.84)
& Y) ~4 m* M' P( u- {Acquiring AIG's Canadian life insurance business$ t* ]; r3 l2 F# E8 {0 j
TD Newcrest continues "hold", 12-month target price is $37.00
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Cogeco Cable (CCA : TSX : $33.37)' Y) P2 q9 l# g0 v9 C, n& X
Q1 review: Canada results encouraging, but Portugal remains a drag
8 B1 B; R2 u$ A9 J. w! L: U% FBMO Capital Markets maintains "outperform", 12-month target price is $46.00
; c$ p7 { X& o8 J. s" F0 A& eDesjardins Securities continues "top pick", 12-month target price is $40.00
- ~9 B; X8 C4 `; aRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00& q" X* N; f6 l. n3 B
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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C9 @, n3 p5 s' P0 WCorridor Resources (CDH : TSX : $2.45)6 b$ e }9 q( V* l* F7 i/ t K
Capital budget set to expected cash flow; production guidance lowered4 {& J& \( B2 _" J% v5 h
RBC Capital Markets maintains "outperform", 12-month target price is $4.25
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& j3 J; k& Q/ _! \7 w" T# c( b: lCOGECO Inc. (CGO : TSX : $25.14)
5 }. E( V4 i) y( q; \Strong radio and cable drives 39% EPS growth. |* } a2 F8 \4 U' a/ k1 x
Scotia Capital Markets continues "sector perform", 12-month target price is $45.00
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' s5 z7 }/ j" g7 g- DCanWest Global Communications (CGS : TSX : $0.51)6 X! K# B8 y9 M1 v, u
Taking action to address tough operating environment
5 _+ A# |- }9 Z$ n) K6 u7 ~! q3 a4 GBMO Capital Markets maintains "underperform", no target price reported
0 R. a/ y& D1 @, FCredit Suisse maintains "neutral", 12-month target price is $1.00# f& y& w1 j: x" ^6 \% T) m
GMP Securities continues "reduce", 12-month target price is $0.50# p: U# t5 n( T4 n8 Z Z
RBC Capital Markets continues "underperform", 12-month target price is $0.75+ U4 T4 U4 L3 c
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50! J& c% _- g, ?* c6 m( q/ ]
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Corus Entertainment (CJR.B : TSX : $12.47)
! Z! H2 z: N2 f [. ~' RQ1 revenues in line, EPS beat9 V) f5 J/ ]4 [' |9 @6 T
BMO Capital Markets continues "market perform", 12-month target price is cut to $15.00! ^7 K6 {! b, w; V
Credit Suisse continues "outperform", 12-month target price is $20.00
5 D( v( h9 ]) hDesjardins Securities maintains "buy", 12-month target price is lowered to $15.00
( [4 W( H7 R; Z& tGMP Securities maintains "buy", 12-month target price is reduced to $17.00
1 m% y1 h4 [' e; j8 N2 G/ `2 BRBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50- Y6 B! @. y$ w, E3 H
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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4 @4 V# S9 e+ j. \5 l6 b# `Calloway REIT (CWT.UN : TSX : $11.84) d. H% Q2 R! f+ p8 G
Held investor day Y! w w! W8 w* M, I7 [
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00
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Daylight Resources Trust (DAY.UN : TSX : $7.77)0 T' U0 v' Y+ h5 C6 w" K5 z l
Reduced distributions by 38%; guided for lower capex
# l$ l2 h' y1 ^! d4 w- i, jBMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.006 G5 }9 [" q# ~+ w0 z
Dundee Capital Markets continues "buy", 12-month target price is $12.00. p% O& b# Q/ C& M7 G
TD Newcrest continues "hold", 12-month target price is $7.50+ [( ~7 t* O- n/ h6 H4 u6 k
+ {' c" K5 _7 ]EXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)9 p' k* {. L7 t1 u; N
Steady market and currency tailwind
4 P0 I( A: v7 o7 PTD Newcrest maintains "buy", 12-month target price is US$5.001 x( Z( r' [! z, ^ G1 D8 A0 D
# ]7 t# n1 z: N& ?& pGoldcorp Inc. (G : TSX : $29.74): A0 K+ E! @, P. H6 ~
Revised commodity forecasts
0 J1 I$ J+ r/ X0 _0 s# DBlackmont Capital maintains "buy", 12-month target price is reduced to $49.00) i# ?0 G4 w# e) D
. m5 Y! o h! `: M N+ g( t' |7 j VHeritage Oil (HOC : TSX : $3.77)
! f( [4 P4 h& [. l5 ?Announced Ugandan commerciality on exploration success
3 Q0 b$ X; @9 h5 A2 PTD Newcrest maintains "speculative buy", 12-month target price is raised to $5.508 t5 r) O1 y" ~. ]' H9 \1 v8 S, D+ w
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Harry Winston Diamond (HW : TSX : $4.98)
0 ]% f& x N- C) M! w0 ^Retail division suffers3 q7 o+ L/ G) N1 w) Q; a
Desjardins Securities maintains "buy", 12-month target price is $12.602 @) f- ^% s. W! H
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Laramide Resources (LAM : TSX : $1.84)# Z% d/ H7 n0 M8 N0 X& m
Westmoreland provided more high grade at Redtree's Jack Lens
- z5 ?) c7 r2 yDundee Capital Markets continues "buy", 12-month target price is $2.30; }4 B8 l, d( \. p9 \7 T9 J( I
( z6 L. v$ g; HLockerbie & Hole (LH : TSX : $6.00)0 s u% F% N: s. g) O1 {. X- l
Released Q3/09 results: very strong, focus should be on active backlog$ O/ S; B1 E" }5 u) t8 q5 W8 w) F
GMP Securities continues "buy", 12-month target price is $9.00
1 a! h2 d6 B0 u$ e8 q$ O! }) h. `Raymond James maintains "market perform", 6-12 month target price is $8.25
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Livingston Intl Income Fund (LIV.UN : TSX : $6.00)
. D. k! b' q# [: ?$ T, mReduced distributions by 70%
7 Y* Z# r: v! q; c4 K5 D; i" ARBC Capital Markets maintains "outperform", no target price reported
3 m2 A! I$ ~5 B: Y3 L+ @& h' D2 `Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50! e' ?: H* v5 r9 Q) ?, s
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Matrikon Inc. (MTK : TSX : $2.04)) X; C. h: m/ J7 y% e4 Z# ~. f
Released Q1/09 results: a little light, but still respectable# @( Y( T5 J: Y8 d8 \
BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50' P: ?% `5 @% I
Paradigm Capital maintains "buy", 12-month target price is $4.00 g: p5 j) d, l
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)! N1 @5 P, J! O+ P0 A6 ?- V- g5 W
Expecting lower CFPU on higher taxes
% P( Z6 u, p$ D: Z* lBMO Capital Markets continues "outperform", 12-month target price is $18.00
2 A% N; R' W+ a" iRBC Capital Markets continues "sector perform", 12-month target price is $12.00' R& ?8 _( `+ V: g U6 }5 f4 E
TD Newcrest continues "buy", 12-month target price is $17.00
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) k! P" F: B% L# @ N$ f. pNorthgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86): t' ~) e# Y2 d7 q& ]9 d0 U' z% T
Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain/ W: { |! [5 Z: W1 N5 T
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25
* ^* M2 p7 [+ D/ i6 t/ lCredit Suisse maintains "neutral", 12-month target price is US$1.006 d. B# F9 e9 G( U
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80
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* M/ a' Q6 W3 t. l1 |) I dNeptune Tech & Bioresources (NTB : TSX-V : $0.79)
7 Y j* L4 ^8 g6 q6 E# }( B; YDietary supplement business facing headwinds
+ ?7 I ?, t4 U7 x1 w. ^$ B' J; BParadigm Capital maintains "buy", 12-month target price is reduced to $4.00
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Open Range Energy (ONR : TSX : $1.18)
4 q- B' W9 D7 q' D5 f$ K; YProvided operational update and F09 guidance
3 C# d+ V8 |" o3 p/ n- _Haywood Securities continues "sector outperform", 12-month target price is $3.25
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6 c: V8 ]( h" l1 l$ C8 H# FOsisko Mining (OSK : TSX : $3.13)+ m7 t- p7 D" x+ P
South Barnat resource around the corner3 w0 c9 X3 K, d% ^8 O* _8 ?
Paradigm Capital continues "speculative buy", 12-month target price is $4.75; V* v% _& M% A+ \( U/ d# ~
* R H) S) J3 \3 APan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)
+ F' g. {1 V- ~& AProvided operational update
7 A1 G- [9 h' {! Y, e' d2 iBlackmont Capital maintains "hold", 12-month target price is lowered to $19.008 z6 g4 v7 H% w8 M& M5 Q! f# N
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
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Paramount Resources (POU : TSX : $7.85)
1 q0 b$ U7 I* \Provided operational update: Grande Prairie emerging as the key focus for F09" Q/ r3 |3 Q, h; B C* k: F. J
GMP Securities maintains "buy", 12-month target price is $12.00
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Rockwell Diamonds (RDI : TSX : $0.07)1 v* M3 ^+ W3 J
Operations starting to turn the corner/ d7 S5 b% @ o9 B% O
RBC Capital Markets maintains "outperform", no target price reported
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. p% c: q2 {- ^Shaw Communications (SJR.B : TSX : $20.13)
# L- A0 U0 q2 i0 s8 t3 P# z$ F+ z4 qReleased Q1/09 results: in line, subscribers ahead; }% y Q, ]( H' ~9 ^* U
Credit Suisse maintains "neutral", 12-month target price is $25.50
$ a. q) P+ O) T$ W- X9 R! WGMP Securities continues "buy", 12-month target price is $26.50
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Sun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)
|3 b% w! F+ y7 A3 XHeld a sell-side lunch showcasing new U.S. team
1 u: Q" j4 S' I7 R' I) a2 OScotia Capital Markets maintains "sector perform", 12-month target price is $33.00
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" i8 Y9 J% P1 C- \Trican Well Service (TCW : TSX : $6.93)
/ K i. A* T2 _$ O; U* g" D6 gAwarded Russian contracts
: A/ F) U6 m" O0 F0 |Blackmont Capital maintains "hold", 12-month target price is reduced to $8.759 `+ d! U/ }. C7 L$ @% O2 _
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00& g1 m; Q( I" z: c
RBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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) o% r6 h% N1 C7 P' i; d% g, r0 kSino-Forest Corp. (TRE : TSX : $8.93)) N) N! Z! v: c6 f! A$ _
Chinese furniture exports rose in November
. [2 N5 k: M* R; uDundee Capital Markets maintains "buy", 12-month target price is $23.50
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UEX Corp. (UEX : TSX : $0.88)
* a: n9 W) l: E$ PShea Creek's two largest deposits have become one
- S& s, s! y' L# n @/ QDundee Capital Markets maintains "buy", 12-month target price is $2.75
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1 j6 ^* V0 Y* t6 y. cVero Energy (VRO : TSX : $4.72)6 D. N1 I m0 A0 E
Released Q4/08 results: horizontal focus to continue in F09
' _; M* O& J: U/ x IDundee Capital Markets continues "buy", 12-month target price is $8.00
, u; c# ~% v8 n- {5 jGMP Securities continues "buy", 12-month target price is $7.50
9 a8 M' ]- B0 T& ?' Y! N; }$ T9 s& nParadigm Capital continues "buy", 12-month target price is $12.00
6 K* C" c4 V2 y4 K, j( L" j) hRBC Capital Markets maintains "outperform", 12-month target price is $8.50
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Wi-Lan Inc (WIN : TSX : $1.75)
4 J' c2 \$ _& L( h" zHit homerun with Samsung+ I6 A$ q d7 A
Paradigm Capital continues "buy", 12-month target price is $3.50 |
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