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Ear on the Street --- Jan. 16 2009& @% P/ `7 O8 E5 l* x5 s# {
' E8 C2 d: r" q: \& O" \2 ]4 JAbsolute Software (ABT : TSX : $3.36)
, O Q* d) W* P9 f7 f4 i$ ~ t" uBracing for a tough few quarters
: N& P4 k1 }* g0 O0 ^/ PCanaccord Capital maintains "hold", 12-month target price is $4.50
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, R j0 U5 _8 P0 H; }2 CBarrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)
) Y2 m/ ]# @2 \/ Y6 v( F* TGrowth outlook, challenging pipeline and high cost structure make future unclear2 l* p( _1 ~( T. O, b& e8 m: V v
Blackmont Capital continues "hold", 12-month target price is lowered to $48.00# ~, Z N- d. ^6 `7 v" P
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00' x+ V1 ]& |1 Y4 B. g
) l. N- x& B4 o' ZAstral Media (ACM.A : TSX : $22.98)
t" y0 Z( U$ a9 W. g9 K1 j+ XReleased Q1/09 results: strong, in light of challenging operating environment
2 D N5 g7 N* G+ z" v- uBMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00; q# p/ d1 n( E& n
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.009 Z+ H" H# L/ R- g6 w7 X; J
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
7 e7 L. P$ y" ?6 gRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00: P, r0 m ]) C1 o$ V6 G
Scotia Capital Markets continues "sector outperform", 12-month target price is $30.00* ^. l# X8 }; x$ M4 m; t' [
2 V. u0 ^& N }4 H* }Agnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)
' N7 |$ S8 L- `; WWell positioned with gold production forecast to double this year and next
1 R* J. U+ ^8 m2 k- ^Blackmont Capital continues "buy", 12-month target price is lowered to $83.00
A2 h* H; ~: ]TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00. P5 U' E3 h, }; Y: z: f
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ARC Energy Trust (AET.UN : TSX : $17.15)
3 I$ O/ w0 t, S) T9 C6 DReduced distributions by 20%; capex also cut; y+ i. p" e' G4 S' b
RBC Capital Markets continues "outperform", 12-month target price is $19.00; A2 [' H$ c) K& r( @; ?1 S$ I
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Andean Resources (AND : TSX : $0.75): B4 M! {5 {# p2 ~$ j- F7 w0 k+ }
Announced F09 outlook2 T$ f, ~$ }% F1 D# p
Paradigm Capital continues "speculative buy", 12-month target price is $2.25
; M! ?% s# y! c! E6 @TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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# \6 Q' B+ ^4 L) O2 I: wBombardier Inc. (BBD.B : TSX : $4.65)
* T+ w) N* T& f t' w- ?Rising challenges in Aerospace6 C$ A% A$ e( V) p1 W* S* ^
GMP Securities continues "buy", 12-month target price is $8.00
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Bank of Montreal (BMO : TSX : $31.84)
+ [7 y" ^( N, T+ E- J/ JAcquiring AIG's Canadian life insurance business/ ?9 P5 K8 u; N2 [( U/ E6 {
TD Newcrest continues "hold", 12-month target price is $37.005 e N9 |% @( u$ {5 D
) m" [5 v" v8 ~) ?" b p" kCogeco Cable (CCA : TSX : $33.37)
9 t; B2 M% `7 y5 ^Q1 review: Canada results encouraging, but Portugal remains a drag
/ N& Y& \+ ]1 y5 c: qBMO Capital Markets maintains "outperform", 12-month target price is $46.00- U" J( g9 ~( `5 h) a6 |9 Y8 ]
Desjardins Securities continues "top pick", 12-month target price is $40.005 B' k4 j. V8 |1 |6 o
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00
, X7 U" N- K& Z. C$ }1 dScotia Capital Markets continues "sector outperform", 12-month target price is $55.009 |$ E% t4 R7 d' i" a
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Corridor Resources (CDH : TSX : $2.45)
/ N; k8 C B$ s8 J. v7 z }Capital budget set to expected cash flow; production guidance lowered
) p! t* P( r" CRBC Capital Markets maintains "outperform", 12-month target price is $4.25
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! J, [- |' a, w1 O5 \COGECO Inc. (CGO : TSX : $25.14)2 c& G# ?" w, q
Strong radio and cable drives 39% EPS growth7 E. b4 ^' S; e) s
Scotia Capital Markets continues "sector perform", 12-month target price is $45.00
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CanWest Global Communications (CGS : TSX : $0.51)
8 r1 L; Z8 ~9 PTaking action to address tough operating environment
% H2 I: C, X7 I _6 B! oBMO Capital Markets maintains "underperform", no target price reported4 b0 K. O( o- y: g8 j, y+ ?
Credit Suisse maintains "neutral", 12-month target price is $1.00
( G5 G5 x/ ~' Z( ?. o+ z6 {8 Y* NGMP Securities continues "reduce", 12-month target price is $0.50
3 U* p% F6 p4 c7 W2 eRBC Capital Markets continues "underperform", 12-month target price is $0.75* G& Y% O% M4 g7 M# n
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.506 l* R. l9 [9 x1 x
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Corus Entertainment (CJR.B : TSX : $12.47)0 J7 L2 n4 f3 z. b0 }9 Q
Q1 revenues in line, EPS beat0 w7 H- [- q; P
BMO Capital Markets continues "market perform", 12-month target price is cut to $15.00
+ Z0 U. h5 Y; s& a7 gCredit Suisse continues "outperform", 12-month target price is $20.006 ?0 U- x& R+ b! ?
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00/ K, N2 J& a( _4 g
GMP Securities maintains "buy", 12-month target price is reduced to $17.00# ]) b5 f# X# z0 T9 g4 q3 j
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50' T- U0 i6 G4 a/ X; |
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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Calloway REIT (CWT.UN : TSX : $11.84)' o4 x& Q- ? b- _+ S0 Z
Held investor day2 u# A+ Y+ Z+ @7 [2 l
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00
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: p- R( X2 F1 ^Daylight Resources Trust (DAY.UN : TSX : $7.77)
" |$ A G l: I" ^, R1 a9 nReduced distributions by 38%; guided for lower capex+ {: Z, P2 y- ~, I, g
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00, G4 k/ r; w4 O* h% e3 ^
Dundee Capital Markets continues "buy", 12-month target price is $12.00
7 O. s7 f1 D9 S# _2 `) Y; ITD Newcrest continues "hold", 12-month target price is $7.50
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EXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)
$ Q5 u) S- o' ?Steady market and currency tailwind6 v' o% `7 g2 b
TD Newcrest maintains "buy", 12-month target price is US$5.00) M; F5 p: y/ N% h# k8 e
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Goldcorp Inc. (G : TSX : $29.74)0 f0 \8 Z9 A9 `- c4 H7 }$ O! x
Revised commodity forecasts
* Y: x- L; m) @/ n; FBlackmont Capital maintains "buy", 12-month target price is reduced to $49.00% W G- M7 X+ L7 d' D
+ I! B+ c7 F6 S- o. E e- ]Heritage Oil (HOC : TSX : $3.77)! m9 p" Z: v G l( E. @+ a& r0 G
Announced Ugandan commerciality on exploration success
. F3 }# ]6 Z0 W# Q2 O E+ H9 BTD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50* W) z/ M5 Y8 g! b7 {, k( I
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Harry Winston Diamond (HW : TSX : $4.98)+ J8 [2 _; k5 D- @. ~
Retail division suffers
( P/ H% ^! T5 a1 ?Desjardins Securities maintains "buy", 12-month target price is $12.60& O2 `* u8 P6 n6 o5 P- m
+ V* j/ T0 t' }+ KLaramide Resources (LAM : TSX : $1.84)
" k: n+ n; {- s; A2 z0 x' Z7 b$ ^Westmoreland provided more high grade at Redtree's Jack Lens% i9 ~, v7 P m2 f1 h
Dundee Capital Markets continues "buy", 12-month target price is $2.30: T# S* y' o9 o* `# x: n
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Lockerbie & Hole (LH : TSX : $6.00)
, Y/ W& _$ y C, z' tReleased Q3/09 results: very strong, focus should be on active backlog3 I3 |# C" p! R ?4 A
GMP Securities continues "buy", 12-month target price is $9.00
( L; b: b$ ?! pRaymond James maintains "market perform", 6-12 month target price is $8.25- b0 z; I- F8 C( p9 I% z
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Livingston Intl Income Fund (LIV.UN : TSX : $6.00)( E# a( M0 {2 @0 f9 Q2 V1 s) \6 K3 Z' H
Reduced distributions by 70%7 y, c# w6 U# |6 ~) ?5 \
RBC Capital Markets maintains "outperform", no target price reported! C% [+ Y7 Q9 E3 v& N9 q
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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Matrikon Inc. (MTK : TSX : $2.04)
9 S3 K$ `. a$ \" mReleased Q1/09 results: a little light, but still respectable
2 U. Q5 U% s0 f: {4 ?" sBMO Capital Markets continues "outperform", 12-month target price is lowered to $2.502 I! v( V2 C- k' ~3 J. v
Paradigm Capital maintains "buy", 12-month target price is $4.00
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)
, K$ q8 K, M* ` Z* v: o% YExpecting lower CFPU on higher taxes
' n) I& | }; Z2 |8 p yBMO Capital Markets continues "outperform", 12-month target price is $18.00, _2 B% D! Q* T" n9 u
RBC Capital Markets continues "sector perform", 12-month target price is $12.00
( U, W4 }; U, M9 F) bTD Newcrest continues "buy", 12-month target price is $17.00
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N t8 E2 @" {/ B* `Northgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)
- D- B0 [5 L4 t! o% c9 sReleased Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain
: ~3 Q- F9 E+ f2 dBlackmont Capital continues "hold", 12-month target price is reduced to $1.25- j5 T2 u. H2 b# y: X" Q3 Q! Z
Credit Suisse maintains "neutral", 12-month target price is US$1.00
H+ d4 o Z; r+ S+ h4 L2 `Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.805 N: p. M( ]' W1 @2 `3 ?
# ^2 a m$ q, V( D- L( {: ONeptune Tech & Bioresources (NTB : TSX-V : $0.79)
& M4 @8 V+ I/ [0 J+ ^8 kDietary supplement business facing headwinds
8 ^/ x/ a* z- h! h4 jParadigm Capital maintains "buy", 12-month target price is reduced to $4.00- ]& I1 b$ W7 u9 U9 M2 [5 I
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Open Range Energy (ONR : TSX : $1.18)3 \0 z. L. W' |$ M) u
Provided operational update and F09 guidance; X2 A6 ?1 R% W; v+ E
Haywood Securities continues "sector outperform", 12-month target price is $3.25/ C& u/ w/ u4 d9 y2 {$ J
9 t2 g9 `& j7 sOsisko Mining (OSK : TSX : $3.13)0 i2 B5 P2 m' ]; V
South Barnat resource around the corner1 C+ Y O& W8 U
Paradigm Capital continues "speculative buy", 12-month target price is $4.75
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Pan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)5 s: u1 y/ N! j* K+ ~
Provided operational update0 V$ v! c# p; V- W9 W
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.00$ k( Z1 T# ]/ o
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50. U- {& j7 e6 \6 A; K1 ^
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Paramount Resources (POU : TSX : $7.85)( L7 C$ j+ \& S' K; [
Provided operational update: Grande Prairie emerging as the key focus for F09. k! p% |3 j8 L
GMP Securities maintains "buy", 12-month target price is $12.00
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( N) p: I4 m/ ~5 r/ C7 w) ]Rockwell Diamonds (RDI : TSX : $0.07)
/ H' y/ L/ a" @9 w- Y# V _Operations starting to turn the corner
% X; K! K5 D4 h! a' F0 c' Z; jRBC Capital Markets maintains "outperform", no target price reported$ S2 t% y3 h1 F$ U
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Shaw Communications (SJR.B : TSX : $20.13)' y1 }3 _( ~, K" y9 d$ a
Released Q1/09 results: in line, subscribers ahead& s7 ^( v2 ]) A r9 O9 I. @! r* W
Credit Suisse maintains "neutral", 12-month target price is $25.503 q! V) u$ P3 M: r# V: {
GMP Securities continues "buy", 12-month target price is $26.50
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* e3 B: K$ u! m. E# t2 qSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)* W* H+ {! ~$ Q8 r, \$ b8 m# v
Held a sell-side lunch showcasing new U.S. team
% C8 @' Y+ b* h1 s" a6 [$ o1 P6 SScotia Capital Markets maintains "sector perform", 12-month target price is $33.006 j/ c; N9 w. L. x3 B- }
6 T( u. I* ~. U, |1 ^4 s) XTrican Well Service (TCW : TSX : $6.93)+ y+ q; g! ?1 ?: e
Awarded Russian contracts
1 d+ J& }7 P9 s: @Blackmont Capital maintains "hold", 12-month target price is reduced to $8.759 G* s. Z X9 ^/ R5 d1 S
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00
5 u/ `$ v6 }- V4 gRBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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Sino-Forest Corp. (TRE : TSX : $8.93)4 T4 q5 ]! U& H
Chinese furniture exports rose in November' [% k. V$ t) O5 \+ ~; t
Dundee Capital Markets maintains "buy", 12-month target price is $23.50
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UEX Corp. (UEX : TSX : $0.88)
# I7 e) F- d. b% F1 P; a& [0 r. ~7 M" KShea Creek's two largest deposits have become one! s* M5 F7 L; l. U
Dundee Capital Markets maintains "buy", 12-month target price is $2.75. n3 s7 M/ G2 O O, @
' \0 r. K$ C: a% L' [Vero Energy (VRO : TSX : $4.72)
' F6 P% A3 M6 h' q: x" hReleased Q4/08 results: horizontal focus to continue in F09
9 e& g" Q+ H9 |, R$ ]; PDundee Capital Markets continues "buy", 12-month target price is $8.00
! l0 |1 {5 L' ?* FGMP Securities continues "buy", 12-month target price is $7.50
, ~" K s0 H( n9 ]$ l' YParadigm Capital continues "buy", 12-month target price is $12.00 Y" w' k' d2 Q5 s* C
RBC Capital Markets maintains "outperform", 12-month target price is $8.50
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- P3 H' f3 D1 V( A2 `+ b* _8 t$ AWi-Lan Inc (WIN : TSX : $1.75)
% O, k% \9 S8 K% u! W# n% PHit homerun with Samsung
$ ?0 Z, X" \! N" AParadigm Capital continues "buy", 12-month target price is $3.50 |
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