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Ear on the Street --- Jan. 16 20092 @+ ?0 I3 M% E' m" l ^3 z. O2 Z
8 \1 o( {4 K! |9 ~0 w* XAbsolute Software (ABT : TSX : $3.36)
- `0 s: Q7 _' M* _' |# BBracing for a tough few quarters+ _. w# f7 x/ i- g7 D5 E) B( _
Canaccord Capital maintains "hold", 12-month target price is $4.50
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9 b7 n' ]$ Z. G: V( B- U8 ?, f. ?; LBarrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)+ A+ ]# ~ }& O0 v6 P8 ^
Growth outlook, challenging pipeline and high cost structure make future unclear
' X+ z8 O8 s, V! x$ r5 yBlackmont Capital continues "hold", 12-month target price is lowered to $48.00/ i ?" e& Y# `9 E. n
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.001 R4 N0 |7 ?3 Y4 @; A
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Astral Media (ACM.A : TSX : $22.98)* \3 \; X+ U2 y1 i8 Q* E# S) D
Released Q1/09 results: strong, in light of challenging operating environment
& J! f$ T9 m) @1 t4 W% YBMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00
X# p: R! u5 Q) a8 gDesjardins Securities maintains "buy", 12-month target price is slashed to $28.00* X- p9 ^; q/ O$ c% B
GMP Securities maintains "buy", 12-month target price is reduced to $30.003 \2 ?& ]. ^( S' T
RBC Capital Markets continues "outperform", 12-month target price is raised to $31.00
/ U) ]6 L2 \6 z' o" \$ DScotia Capital Markets continues "sector outperform", 12-month target price is $30.00
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- f* Q. s( p1 |, |* K0 L; rAgnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)* _$ R7 \# X& ?8 P' i" H
Well positioned with gold production forecast to double this year and next: c" O7 I! l. S$ d, X
Blackmont Capital continues "buy", 12-month target price is lowered to $83.00
3 ~$ o. w2 o3 S8 r4 k, q7 `' wTD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00
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1 ]- }/ ~% a3 V0 l. e2 U2 L5 Y* YARC Energy Trust (AET.UN : TSX : $17.15)
$ k r6 e0 A$ f) Z! wReduced distributions by 20%; capex also cut8 {3 F! E4 n( q, I
RBC Capital Markets continues "outperform", 12-month target price is $19.00( e3 x% O& P8 ~6 |; P/ ^; T1 q% N3 h, v
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Andean Resources (AND : TSX : $0.75)
) b. E) J' u; J0 KAnnounced F09 outlook
' \' C( q$ u) iParadigm Capital continues "speculative buy", 12-month target price is $2.25
* ?' r7 D& n; Z1 V, N! mTD Newcrest downgrades to "hold", 12-month target price is cut to $1.004 e5 j# V, W, D- u5 {- j( g
& e/ @; N. a6 T7 t! G8 aBombardier Inc. (BBD.B : TSX : $4.65)5 x/ v8 _6 _6 }/ p0 G, S# k
Rising challenges in Aerospace
9 S- q! a3 K8 P# U! {8 jGMP Securities continues "buy", 12-month target price is $8.00
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Bank of Montreal (BMO : TSX : $31.84)5 ]' G# H6 \0 h- t, c
Acquiring AIG's Canadian life insurance business3 K6 B5 p3 R" R1 e
TD Newcrest continues "hold", 12-month target price is $37.00 h `7 f% [7 I8 x7 ~' X
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Cogeco Cable (CCA : TSX : $33.37)0 V* k4 J' I. W" t
Q1 review: Canada results encouraging, but Portugal remains a drag* W) f" a$ }3 P8 A- S5 h
BMO Capital Markets maintains "outperform", 12-month target price is $46.00
{. q7 K+ ~1 i7 R8 IDesjardins Securities continues "top pick", 12-month target price is $40.00' u/ `3 [- H$ Z& d* E. v' B9 j
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00
$ E3 q: k, A) ?Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00' L9 O* b! R1 ~7 `5 r9 i
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Corridor Resources (CDH : TSX : $2.45)- q5 S7 @0 v t D
Capital budget set to expected cash flow; production guidance lowered
6 o6 B' d, m$ x) D' K8 }RBC Capital Markets maintains "outperform", 12-month target price is $4.25
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COGECO Inc. (CGO : TSX : $25.14)5 `8 {; Q, ]8 C& S5 x% G2 N m. D
Strong radio and cable drives 39% EPS growth
2 O! Q+ }; t& IScotia Capital Markets continues "sector perform", 12-month target price is $45.00& \! d# c) a6 `( W U
2 T* g3 W J* \' u7 nCanWest Global Communications (CGS : TSX : $0.51)) \8 b9 w. k: t/ H- g' [9 r: E8 r
Taking action to address tough operating environment
$ J! c/ D8 n" `BMO Capital Markets maintains "underperform", no target price reported9 l; R; X! i5 L% M4 x$ N" `: q1 e
Credit Suisse maintains "neutral", 12-month target price is $1.00
7 X4 L3 W4 c. U9 X) W' [GMP Securities continues "reduce", 12-month target price is $0.50! v, j s# B; Y/ h' y3 ^
RBC Capital Markets continues "underperform", 12-month target price is $0.75/ q' t& {2 d6 D
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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Corus Entertainment (CJR.B : TSX : $12.47)2 `2 L* ~. ]( u. a4 I: {8 x8 h
Q1 revenues in line, EPS beat' g& G$ h" ~' r
BMO Capital Markets continues "market perform", 12-month target price is cut to $15.008 b4 v6 S4 w0 M. S$ x) _' k$ c3 U# }; H
Credit Suisse continues "outperform", 12-month target price is $20.00% r) X* Q& d8 @, x B; e0 w- L. p
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00
( {) [2 \ [ m( S# K8 d5 XGMP Securities maintains "buy", 12-month target price is reduced to $17.00' r/ g- q$ c' y- _
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50
+ @: T- |5 t9 A% TScotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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1 G- J$ I7 ?2 W8 _" \) `9 {2 OCalloway REIT (CWT.UN : TSX : $11.84)
( }* X$ m" V2 ^" I6 P+ W. B! e: M% WHeld investor day$ o9 g: v f& }9 n) m; b n; p
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.003 r @* M# }9 W% _& v, b
# s, \ K$ s3 o4 c) f* @Daylight Resources Trust (DAY.UN : TSX : $7.77)/ D- T; O6 q1 F" A5 A- U6 d) u e
Reduced distributions by 38%; guided for lower capex% ]! A' U& r: h/ r# i3 T" h
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00
' i i1 Q# O8 R- c6 a1 fDundee Capital Markets continues "buy", 12-month target price is $12.00
0 t1 z0 w/ Z5 B$ x* fTD Newcrest continues "hold", 12-month target price is $7.506 u* C3 H; A: z& _5 {) V+ w T9 X
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EXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)
" d4 X/ R [1 }6 \Steady market and currency tailwind
& k; a/ X0 _' L9 f6 |6 r1 r! @TD Newcrest maintains "buy", 12-month target price is US$5.00( C+ D# ]; i* [ C0 p; n) n
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Goldcorp Inc. (G : TSX : $29.74)
6 d: q* a) V' e3 {& E4 A0 Z5 nRevised commodity forecasts& b: t: o9 d$ |' M
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00; e4 e: T2 U! Z% r
- c. y8 [* V _/ [5 {+ G4 DHeritage Oil (HOC : TSX : $3.77)
M2 O/ k8 F( K# o+ ~- YAnnounced Ugandan commerciality on exploration success) y% a. T, F3 g8 L! H$ k
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50% L& T2 K) Y% e
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Harry Winston Diamond (HW : TSX : $4.98), {2 q# ~4 ]; H
Retail division suffers% F2 p& U& F3 M& Q: |
Desjardins Securities maintains "buy", 12-month target price is $12.60
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' z2 {4 s$ E4 \Laramide Resources (LAM : TSX : $1.84)
, s! `4 S4 E; z# P6 q) i& oWestmoreland provided more high grade at Redtree's Jack Lens, Q6 Y$ y% w" p% p
Dundee Capital Markets continues "buy", 12-month target price is $2.301 b3 q4 J2 d& Q% B8 u
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Lockerbie & Hole (LH : TSX : $6.00)
. C0 c9 i3 O( u/ ?$ a! \1 iReleased Q3/09 results: very strong, focus should be on active backlog7 K$ B6 a8 V2 ?: I6 B
GMP Securities continues "buy", 12-month target price is $9.00
' h3 h5 z7 f8 gRaymond James maintains "market perform", 6-12 month target price is $8.250 h2 _, C: Z0 \& G2 b
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Livingston Intl Income Fund (LIV.UN : TSX : $6.00)4 v+ [! O7 m( @
Reduced distributions by 70%+ M, d) o! ^0 ]0 p$ R# q
RBC Capital Markets maintains "outperform", no target price reported) I. e: R$ M" M, B
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50: T* a4 x& y' j
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Matrikon Inc. (MTK : TSX : $2.04)
& U0 c* K0 m; B# l: G. K; ~Released Q1/09 results: a little light, but still respectable3 @3 G7 p" R" v: J# ?
BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50$ Q0 U/ Y3 S( T
Paradigm Capital maintains "buy", 12-month target price is $4.00
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)
. l" s: ]0 f% p9 t; ZExpecting lower CFPU on higher taxes8 {- g) B. }+ {- b8 f
BMO Capital Markets continues "outperform", 12-month target price is $18.00) p. V# b# k$ `6 u/ v- L) w# |1 O
RBC Capital Markets continues "sector perform", 12-month target price is $12.00
' V4 a+ Z @: Y0 z* J, eTD Newcrest continues "buy", 12-month target price is $17.00
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Northgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)
% N6 e- a5 P9 k5 ~% DReleased Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain; P* b# o3 f8 }1 I6 s
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25
9 t" A" o& ?4 I# ?9 GCredit Suisse maintains "neutral", 12-month target price is US$1.003 Y5 C0 H( g- D \1 i' `. k
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80( r# `; y. h0 Q3 F: }
: q7 u3 W9 q Q6 e$ Z, cNeptune Tech & Bioresources (NTB : TSX-V : $0.79)1 z( G* u* W; X* W
Dietary supplement business facing headwinds$ z- R' a/ p1 |4 p; J& j/ \4 U
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.008 G. C+ P4 y5 Y2 L$ n0 m
% ~+ C7 g% }3 U, iOpen Range Energy (ONR : TSX : $1.18)
$ N: I. ~! ` D9 j1 ^$ L" jProvided operational update and F09 guidance
8 E! @, [# F/ FHaywood Securities continues "sector outperform", 12-month target price is $3.25
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Osisko Mining (OSK : TSX : $3.13)
8 A/ i4 m) l/ | r+ r# WSouth Barnat resource around the corner- G$ L. \: ~; S4 b. l& v
Paradigm Capital continues "speculative buy", 12-month target price is $4.752 M9 o8 I+ x8 R8 w7 O5 R4 T0 P
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Pan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)
% @, O* b' ?- d6 `0 o, S# S) mProvided operational update( F! G5 u2 z1 W" K, E
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.00
" i! I4 J# _# H: g: iTD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
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3 G" S" n& r1 i! `* W6 x2 ~Paramount Resources (POU : TSX : $7.85)
5 u, O6 L9 T3 O% DProvided operational update: Grande Prairie emerging as the key focus for F09
* T2 g/ h3 R$ ~) t5 o( V8 PGMP Securities maintains "buy", 12-month target price is $12.00# C }7 j% Q+ A6 R
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Rockwell Diamonds (RDI : TSX : $0.07); Y4 G* H0 g9 z0 c, K. x" n9 P
Operations starting to turn the corner
+ F" ^4 S9 K; q& C- k( _RBC Capital Markets maintains "outperform", no target price reported
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Shaw Communications (SJR.B : TSX : $20.13)
% r T+ y( m5 y! j& L* ^7 J6 fReleased Q1/09 results: in line, subscribers ahead
( l6 ?5 t* Q. \5 D( y: R, ~0 hCredit Suisse maintains "neutral", 12-month target price is $25.506 _% h2 ]* u& U. @
GMP Securities continues "buy", 12-month target price is $26.50" N1 Z+ F. o4 W. P Y
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Sun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)
# q" R: E% J5 BHeld a sell-side lunch showcasing new U.S. team
3 P- b' p/ o) }) `9 pScotia Capital Markets maintains "sector perform", 12-month target price is $33.00
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$ X2 o: y) Z* g4 S+ a/ yTrican Well Service (TCW : TSX : $6.93)
- K& H8 G4 V* B1 JAwarded Russian contracts
- |/ T7 S# N3 G, oBlackmont Capital maintains "hold", 12-month target price is reduced to $8.75
8 D$ A* z5 s4 v" P2 z9 w& ZRaymond James maintains "market perform", 6-12 month target price is lowered to $9.00
. D9 D6 y A/ k/ F& jRBC Capital Markets maintains "sector perform", 12-month target price is $10.00( |8 |/ F, B$ p2 n
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Sino-Forest Corp. (TRE : TSX : $8.93)
* r p/ M2 R3 X. u( y2 TChinese furniture exports rose in November/ O$ _* @/ P# j6 _5 n! B6 r* V
Dundee Capital Markets maintains "buy", 12-month target price is $23.50
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1 M. ~4 O2 Q" i1 d) [/ KUEX Corp. (UEX : TSX : $0.88)9 G' |9 `5 |# r: _# d( E' b6 [
Shea Creek's two largest deposits have become one
" N3 J/ i$ U! nDundee Capital Markets maintains "buy", 12-month target price is $2.752 k7 d2 K" B& N
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Vero Energy (VRO : TSX : $4.72)
+ ?; ?9 l ?# Y# T) x6 YReleased Q4/08 results: horizontal focus to continue in F09! U9 h, a' @ e6 D! w4 Q, M
Dundee Capital Markets continues "buy", 12-month target price is $8.00
1 O; b& H0 h0 t/ v+ ` y" KGMP Securities continues "buy", 12-month target price is $7.50
. s3 T' n. t/ V7 e$ H3 nParadigm Capital continues "buy", 12-month target price is $12.00
1 o3 x* P2 h7 [3 A( K( Y i0 RRBC Capital Markets maintains "outperform", 12-month target price is $8.50! y/ |: j, g3 r1 X% P5 i
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Wi-Lan Inc (WIN : TSX : $1.75)
O6 h' U; I8 u+ J C$ w% r; HHit homerun with Samsung4 B2 _7 a+ i* k B( [% M
Paradigm Capital continues "buy", 12-month target price is $3.50 |
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