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Ear on the Street --- Jan. 16 20096 N e/ _: x+ Q$ G1 Y- r* X9 A3 t! p/ S0 [
' t4 o0 P* I* f/ t4 Q6 b0 a' G. gAbsolute Software (ABT : TSX : $3.36)
1 d( T1 \" A: ?7 F; kBracing for a tough few quarters
. M7 E) v% I, J# x* e; XCanaccord Capital maintains "hold", 12-month target price is $4.50' k$ l3 F+ s+ C* b6 [! Z
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Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)7 s6 J# X. S3 h5 f
Growth outlook, challenging pipeline and high cost structure make future unclear
* a# V9 D& Y7 \+ iBlackmont Capital continues "hold", 12-month target price is lowered to $48.00
! F: ^9 C! ?' o& ?. K: w5 i) STD 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)3 g2 O8 x b7 E8 u
Released Q1/09 results: strong, in light of challenging operating environment/ I+ z7 ~ R# d2 R3 t
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00& V4 ?- C8 o; h7 d6 C
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00# s! @& ?, P' J g! h
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
2 G; j8 f% p9 Z8 a9 x8 {1 \RBC Capital Markets continues "outperform", 12-month target price is raised to $31.00. l2 Z* E7 X6 w+ V
Scotia Capital Markets continues "sector outperform", 12-month target price is $30.00; l2 N' q5 E9 w+ U; F9 S$ {/ c
( U' X; e9 Y7 Q& kAgnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)
0 c' W% M% U. B# h( y3 UWell positioned with gold production forecast to double this year and next6 h4 R/ m: |7 Z( x5 D5 _
Blackmont Capital continues "buy", 12-month target price is lowered to $83.00
6 P5 v3 y6 h7 C: d$ q6 n; f f' CTD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.007 M0 ]6 }' _; x1 C3 z
& \% f+ q$ `( Q9 GARC Energy Trust (AET.UN : TSX : $17.15)
! q6 w9 I; l1 O& B6 ^Reduced distributions by 20%; capex also cut
( I8 N9 h( V- _5 z/ H7 G* I6 ARBC Capital Markets continues "outperform", 12-month target price is $19.00
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Andean Resources (AND : TSX : $0.75)1 l* F, V C) f
Announced F09 outlook
0 M8 f- b: }4 l9 E! w7 _3 ]Paradigm Capital continues "speculative buy", 12-month target price is $2.250 H: R1 T9 S& @1 @8 r( D
TD Newcrest downgrades to "hold", 12-month target price is cut to $1.005 g2 B+ ?- t4 A6 n/ G* n3 g
/ y& ?8 H( a. D* a( G! ABombardier Inc. (BBD.B : TSX : $4.65)
" K9 W; g U1 r* zRising challenges in Aerospace8 V: u+ h: K' ?2 ?0 M9 r. g5 k
GMP Securities continues "buy", 12-month target price is $8.00
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: v' \; g' Y& j4 A; ZBank of Montreal (BMO : TSX : $31.84)
" r `7 [# k+ `4 m+ W7 c0 G1 FAcquiring AIG's Canadian life insurance business6 f3 V. i6 }1 v* D
TD Newcrest continues "hold", 12-month target price is $37.005 V2 x& E0 `9 J9 z/ z E* f
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Cogeco Cable (CCA : TSX : $33.37)
) W$ ]) x5 x4 x8 AQ1 review: Canada results encouraging, but Portugal remains a drag$ x4 i& \& K C: k7 s ]
BMO Capital Markets maintains "outperform", 12-month target price is $46.009 {7 C) \1 p! i L8 S2 ^( K
Desjardins Securities continues "top pick", 12-month target price is $40.00
6 @6 H6 C: d& P$ oRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.004 N1 O7 P6 j q* f9 R( _
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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Corridor Resources (CDH : TSX : $2.45)
; J/ Q! @- y( K5 S7 s( NCapital budget set to expected cash flow; production guidance lowered3 O: Z4 f" N0 s! L, B
RBC Capital Markets maintains "outperform", 12-month target price is $4.25
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COGECO Inc. (CGO : TSX : $25.14)
. Y5 H" x* s$ z3 YStrong radio and cable drives 39% EPS growth% U% M& ?$ G4 ^* W+ g9 L
Scotia Capital Markets continues "sector perform", 12-month target price is $45.00; H# F. a. i# F1 o% C( _" F! [, r
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CanWest Global Communications (CGS : TSX : $0.51)" F8 y* k- C! }/ Y$ Z! p
Taking action to address tough operating environment9 D. O: h5 }, c
BMO Capital Markets maintains "underperform", no target price reported+ x9 `+ m7 t z# W7 o
Credit Suisse maintains "neutral", 12-month target price is $1.00$ K5 v$ r: [2 y4 K
GMP Securities continues "reduce", 12-month target price is $0.50
9 i* F! _5 v! I z; yRBC Capital Markets continues "underperform", 12-month target price is $0.75) P+ |" p4 _$ u2 v
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50; Z) C' f' V' ?
/ t" v* g1 a% `" iCorus Entertainment (CJR.B : TSX : $12.47)2 F3 B: U* t1 e# [) z7 z' o) G
Q1 revenues in line, EPS beat
6 @/ r K! v4 \ J# ]* _BMO Capital Markets continues "market perform", 12-month target price is cut to $15.006 M2 J3 z- |5 o( w+ @
Credit Suisse continues "outperform", 12-month target price is $20.00
# ~/ o7 ?# ]3 R. tDesjardins Securities maintains "buy", 12-month target price is lowered to $15.00
" K4 z( `" V" {! O0 z& jGMP Securities maintains "buy", 12-month target price is reduced to $17.003 ?: L# b( ~/ T6 D2 j& H6 [% p
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50
6 |" n C. [) QScotia Capital Markets continues "sector outperform", 12-month target price is $18.00- ]4 n1 ~$ Y1 E
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Calloway REIT (CWT.UN : TSX : $11.84)! O! g- F7 ]1 Q7 |+ ` p% C
Held investor day9 m! D; T0 W9 C& z6 _
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00/ s- A/ s0 f. i% Y) y
. Z& f( h Z- x- @0 \5 c1 n l9 vDaylight Resources Trust (DAY.UN : TSX : $7.77)+ p+ F5 g) Z; e9 R* R- Y
Reduced distributions by 38%; guided for lower capex8 g0 c( D9 A% s( A; W
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.008 a) q' \! {1 t2 Y
Dundee Capital Markets continues "buy", 12-month target price is $12.00( e$ }6 A6 @6 U2 c8 m2 D
TD Newcrest continues "hold", 12-month target price is $7.50# r# [* D7 E+ G F
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EXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)! h w: h b! z, I3 _, `, _
Steady market and currency tailwind1 x* `) j! Z# r/ ~$ K$ N9 S
TD Newcrest maintains "buy", 12-month target price is US$5.00! k5 a# T' Q: `
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Goldcorp Inc. (G : TSX : $29.74)
! [+ k7 w' S0 L" A* U8 t2 M7 iRevised commodity forecasts+ B8 i8 {0 T! n; w! B+ L- [9 r+ O4 V
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00+ Z) d2 y. f" A5 ~7 e) M
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Heritage Oil (HOC : TSX : $3.77): I8 h+ J- t; ]0 w- N/ l
Announced Ugandan commerciality on exploration success
$ D2 [" Q9 ^% R$ lTD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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* M: Z6 R/ }. S3 UHarry Winston Diamond (HW : TSX : $4.98)
- F2 p4 S, T$ k ~Retail division suffers
% E2 W7 s" G( l6 H4 SDesjardins Securities maintains "buy", 12-month target price is $12.60
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. c& G+ A$ @. |3 DLaramide Resources (LAM : TSX : $1.84)
2 l! z' f7 f0 q" g2 Y" u3 S$ GWestmoreland provided more high grade at Redtree's Jack Lens
* U9 _, z% M7 H5 a4 CDundee Capital Markets continues "buy", 12-month target price is $2.30
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; e% K" r# Q5 KLockerbie & Hole (LH : TSX : $6.00)6 a& X% r H5 [8 |
Released Q3/09 results: very strong, focus should be on active backlog$ J) F6 b, r4 m4 a2 x8 j% `- A
GMP Securities continues "buy", 12-month target price is $9.00
, ~- ]: T* q; M: ~0 X/ ^Raymond James maintains "market perform", 6-12 month target price is $8.257 t6 R/ h8 b; v, l
@6 M& H) T* ^: m2 S8 GLivingston Intl Income Fund (LIV.UN : TSX : $6.00)7 q) I+ t; Q. g; `
Reduced distributions by 70%" \% m5 [% O- z( Z2 t
RBC Capital Markets maintains "outperform", no target price reported
- @9 }' M# L7 n% n4 Y; f& U8 o/ |Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50% S6 c3 A4 e( g7 r* o
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Matrikon Inc. (MTK : TSX : $2.04)1 k: b% x) m# r G
Released Q1/09 results: a little light, but still respectable
$ g: U0 A9 q( p# O" _# @BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50
- z* z, ]7 D7 P. e5 S# F( H# KParadigm Capital maintains "buy", 12-month target price is $4.00
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)5 p# x1 n; r- A" Q$ v
Expecting lower CFPU on higher taxes
% t5 Y7 V) s9 p8 a2 iBMO Capital Markets continues "outperform", 12-month target price is $18.004 S0 N2 j9 `! ]( T$ W
RBC Capital Markets continues "sector perform", 12-month target price is $12.00: H, X4 R# C/ u7 J9 B
TD Newcrest continues "buy", 12-month target price is $17.00
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' U) }* s3 m$ D* ~: hNorthgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)0 k. X' z1 l# ^5 S4 p. b: _8 o
Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain8 t) ?9 |0 u* V1 X. E
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25
4 O& Q* q: c6 e& \% P, JCredit Suisse maintains "neutral", 12-month target price is US$1.00
' o/ g/ c* M/ ]; w k- `5 h6 |Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80
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Neptune Tech & Bioresources (NTB : TSX-V : $0.79)
! L% s L: D. d5 e% b$ s( J+ H* gDietary supplement business facing headwinds2 i, X: e/ r' _ z+ O3 K5 g; m
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00
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6 X8 S- M' h' c8 e+ \2 c8 ]& X9 KOpen Range Energy (ONR : TSX : $1.18)
- O3 A# v! B4 R. D' h6 @6 nProvided operational update and F09 guidance
; y: Z5 B( R% z9 \! K ~: cHaywood Securities continues "sector outperform", 12-month target price is $3.25
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Osisko Mining (OSK : TSX : $3.13)
6 B" n$ ^4 Z; V, S! QSouth Barnat resource around the corner
8 n5 w' Z. T4 m! N0 r1 }6 A& `Paradigm Capital continues "speculative buy", 12-month target price is $4.75+ T& R3 H; D* g( A% H9 o9 u
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Pan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)
. Q/ v$ p# V9 T4 tProvided operational update
9 I, g4 g; n9 h0 i. v/ s# |: lBlackmont Capital maintains "hold", 12-month target price is lowered to $19.005 a' U8 u/ N: J8 w
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
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6 V; H6 n5 g* G$ J: jParamount Resources (POU : TSX : $7.85)
5 `; Y! W7 h4 L& w, PProvided operational update: Grande Prairie emerging as the key focus for F09
) q$ ^9 }2 G2 yGMP Securities maintains "buy", 12-month target price is $12.00& q, i1 X% `- E7 ~3 W& E
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Rockwell Diamonds (RDI : TSX : $0.07)" [6 K& G' [. w# g* ~6 b$ |
Operations starting to turn the corner
# Q3 X5 h/ i# n3 l8 j4 Q! J" eRBC Capital Markets maintains "outperform", no target price reported. g* h9 ~" k: I1 z( n. e7 O+ ^
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Shaw Communications (SJR.B : TSX : $20.13)
8 R7 C3 k$ D8 JReleased Q1/09 results: in line, subscribers ahead4 I: D& N4 f/ F
Credit Suisse maintains "neutral", 12-month target price is $25.50: c% A$ c- H; }! j" f# b2 q
GMP Securities continues "buy", 12-month target price is $26.50
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Sun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)
3 U. y1 v. K1 X, IHeld a sell-side lunch showcasing new U.S. team
7 R( X- T$ N! F Y6 g- PScotia Capital Markets maintains "sector perform", 12-month target price is $33.009 }) ^% O, @6 ^0 ]3 n
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Trican Well Service (TCW : TSX : $6.93)
) y0 M \' k' I: _7 p5 F j/ f( aAwarded Russian contracts% }0 Q, D& V f
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.757 j: B8 N6 Q6 j
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.007 x: X# Y/ u; k
RBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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( Y) P; c4 J: Z+ USino-Forest Corp. (TRE : TSX : $8.93)
; d9 k* o; W) pChinese furniture exports rose in November& ]+ D3 P" Z0 b
Dundee Capital Markets maintains "buy", 12-month target price is $23.50
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2 e s- }7 P% cUEX Corp. (UEX : TSX : $0.88)* e3 S" u5 ~$ A# v5 U
Shea Creek's two largest deposits have become one
, b7 ?3 l& X7 qDundee Capital Markets maintains "buy", 12-month target price is $2.75
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$ q: ~6 H( W oVero Energy (VRO : TSX : $4.72)
! Z4 D, n$ \. XReleased Q4/08 results: horizontal focus to continue in F09% t; v- P3 s& P# t
Dundee Capital Markets continues "buy", 12-month target price is $8.00' z: \6 Q$ m2 f
GMP Securities continues "buy", 12-month target price is $7.504 p3 E7 x0 D4 ]. ?
Paradigm Capital continues "buy", 12-month target price is $12.00
8 V H+ F1 s" J# e# ], [0 {8 a/ @RBC Capital Markets maintains "outperform", 12-month target price is $8.50
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Wi-Lan Inc (WIN : TSX : $1.75)
1 U: U3 A+ g: V; @Hit homerun with Samsung
( P# _* n8 T* ^- T) z. v8 t1 \Paradigm Capital continues "buy", 12-month target price is $3.50 |
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