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Ear on the Street --- Jan. 16 2009% S2 I, C3 G! z* f
6 }: _& c8 M+ H. K" UAbsolute Software (ABT : TSX : $3.36)
" {/ V% N% ?9 i7 G$ Y, D% rBracing for a tough few quarters/ s" `0 o2 t; ~- t2 `6 X5 `8 {
Canaccord Capital maintains "hold", 12-month target price is $4.503 a. n4 n* @/ N" W1 q* a
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Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)" n1 O$ k: H. O; b, N' E0 B
Growth outlook, challenging pipeline and high cost structure make future unclear
/ H# D, k+ Q7 O4 V1 V4 wBlackmont Capital continues "hold", 12-month target price is lowered to $48.00
7 o4 F2 w6 k3 E+ G' G8 M8 K' DTD Newcrest downgrades to "hold", 12-month target price is raised to US$37.002 T3 k+ j: D _0 k, ?1 h2 {
6 l: m2 g3 D" g" O9 E, V6 d* [Astral Media (ACM.A : TSX : $22.98)% I6 ?+ ^3 [" I6 z
Released Q1/09 results: strong, in light of challenging operating environment
$ z& N, y0 J4 w/ d! D QBMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00, {# ^' [- b: F6 z% z! R
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00
! Y' ?* J; p' A2 V' V' B2 oGMP Securities maintains "buy", 12-month target price is reduced to $30.00
1 ^: A2 a2 m7 N. `! CRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00- u. m* }+ i2 W0 L9 t& W
Scotia 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$45.07)
& g2 [/ m; R# k! i" w/ nWell positioned with gold production forecast to double this year and next$ a+ n. Y, u( B; D; t7 N
Blackmont Capital continues "buy", 12-month target price is lowered to $83.00
% y* U5 R# |2 v; I+ D* H! D( M5 |TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00
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1 E8 T( {$ J! R, ?) UARC Energy Trust (AET.UN : TSX : $17.15)6 W, q$ O4 R. O
Reduced distributions by 20%; capex also cut( v3 w* B) J |
RBC Capital Markets continues "outperform", 12-month target price is $19.007 h L! j0 c A" L* b0 _1 q+ x
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Andean Resources (AND : TSX : $0.75)/ T: v6 [. u1 U1 C. N6 S
Announced F09 outlook
3 G, D/ \3 W+ GParadigm Capital continues "speculative buy", 12-month target price is $2.25( a* }8 T/ _; c$ I$ d, J, {+ z
TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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Bombardier Inc. (BBD.B : TSX : $4.65); _) J9 }$ }# p" m7 Z
Rising challenges in Aerospace
0 q0 u$ p6 `! N5 V1 R- Y; VGMP Securities continues "buy", 12-month target price is $8.00
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0 n. v# ?$ b3 BBank of Montreal (BMO : TSX : $31.84)
2 q$ x/ ~ \4 tAcquiring AIG's Canadian life insurance business
P* o; _6 A/ M: ZTD Newcrest continues "hold", 12-month target price is $37.00
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Cogeco Cable (CCA : TSX : $33.37)
- d: m0 m1 b: C; C4 u" h5 rQ1 review: Canada results encouraging, but Portugal remains a drag
1 G: t$ l% w6 Y7 O- c3 OBMO Capital Markets maintains "outperform", 12-month target price is $46.00- ?8 s9 V, r, |9 _
Desjardins Securities continues "top pick", 12-month target price is $40.008 I- \2 w- G# Y1 n f
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00
- j+ T/ T: Y6 p4 `$ o$ {: |Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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Corridor Resources (CDH : TSX : $2.45)
$ B$ E* G+ k% a% uCapital budget set to expected cash flow; production guidance lowered
$ Q: k# v# z) \* lRBC Capital Markets maintains "outperform", 12-month target price is $4.25% c y4 R* `" `$ q; \( w
; X k4 q* N) w6 h. J! H' zCOGECO Inc. (CGO : TSX : $25.14)/ Y7 x* z- j8 z G
Strong radio and cable drives 39% EPS growth
: L0 q( }- {0 u5 o! PScotia Capital Markets continues "sector perform", 12-month target price is $45.00 X% _3 y/ [4 J1 ~9 g
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CanWest Global Communications (CGS : TSX : $0.51)
& T" x8 n& M7 v# o7 PTaking action to address tough operating environment
: a$ @7 W7 Q5 b3 bBMO Capital Markets maintains "underperform", no target price reported
2 m( |! l9 `7 d; j/ V, }* ~Credit Suisse maintains "neutral", 12-month target price is $1.00
, ^ S/ E/ `% QGMP Securities continues "reduce", 12-month target price is $0.50
2 [2 G8 F7 p) c) |# BRBC Capital Markets continues "underperform", 12-month target price is $0.750 D) S/ N) X! a8 h1 P+ C: Q
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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Corus Entertainment (CJR.B : TSX : $12.47)5 h% A* m$ F! g3 p0 V
Q1 revenues in line, EPS beat
7 ]5 G; z y8 K* g7 m- i$ @2 o# VBMO Capital Markets continues "market perform", 12-month target price is cut to $15.00
. D0 Z0 M; F# d% ^& l7 oCredit Suisse continues "outperform", 12-month target price is $20.001 z) R, Q2 F- {7 `# l" V
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.004 D. t% x2 Q+ T6 f: o
GMP Securities maintains "buy", 12-month target price is reduced to $17.00( W# Y1 A$ _7 S0 A& G2 v
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50
+ c# h' _5 [3 w: @& TScotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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! B8 }5 c W3 K$ ?; ]( Y) j+ B* iCalloway REIT (CWT.UN : TSX : $11.84); E7 }- h; ]. n7 Y$ b( x
Held investor day
' H2 R. {7 R* k2 i0 ?Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00; w+ B4 V- E# Y3 Y' D" X' Y; W
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Daylight Resources Trust (DAY.UN : TSX : $7.77)
8 {& `$ l0 b1 l( P8 T8 SReduced distributions by 38%; guided for lower capex4 w4 z8 A$ w. M8 F
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00
- E6 `- g1 e F" A! g ZDundee Capital Markets continues "buy", 12-month target price is $12.00
+ J3 o' r- _ {% [5 |! BTD Newcrest continues "hold", 12-month target price is $7.505 C3 i7 F7 c5 \. [; J
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EXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)$ s$ c" r, b* Q4 }% `! r
Steady market and currency tailwind
3 N: J/ s# M. n- KTD Newcrest maintains "buy", 12-month target price is US$5.00
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9 w& B4 P+ z" ^$ ^- \( u) T zGoldcorp Inc. (G : TSX : $29.74)
& O9 Y0 X" j* n# dRevised commodity forecasts. L& E: Q6 X8 {8 g/ o
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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Heritage Oil (HOC : TSX : $3.77)
8 b* y1 n3 S! E. xAnnounced Ugandan commerciality on exploration success6 D" t- o( C& n& I# l, H
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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, j: k4 v& n, B5 o9 `& H( sHarry Winston Diamond (HW : TSX : $4.98)
" O# f! S- Y/ HRetail division suffers& I; t$ s! a6 B4 C7 G% L$ X% \2 I6 s
Desjardins Securities maintains "buy", 12-month target price is $12.60# Z+ n- e: w: Q, {& z9 j: y
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Laramide Resources (LAM : TSX : $1.84)
2 j/ R9 L6 @' D' f/ c6 o5 l- YWestmoreland provided more high grade at Redtree's Jack Lens
- G& g; d! D8 G- D. ?% T% ]Dundee Capital Markets continues "buy", 12-month target price is $2.30
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Lockerbie & Hole (LH : TSX : $6.00)
, j- {* a& N& q& v' l1 f+ ^ h8 qReleased Q3/09 results: very strong, focus should be on active backlog
. [, \* N& N3 `$ A4 n6 Q T mGMP Securities continues "buy", 12-month target price is $9.00
! b& i& \! p; B0 L h, R5 \ ZRaymond James maintains "market perform", 6-12 month target price is $8.25
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# X9 C* j; o. M9 X o0 \8 Z wLivingston Intl Income Fund (LIV.UN : TSX : $6.00)
8 |) V* E! Z$ E$ w. fReduced distributions by 70%
6 n& {+ O6 L" s. o6 [RBC Capital Markets maintains "outperform", no target price reported0 o) Z8 I1 h7 A$ F/ a5 B' l
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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4 v! Y! P8 _# M) TMatrikon Inc. (MTK : TSX : $2.04)
- g% h# o! A( t% {Released Q1/09 results: a little light, but still respectable
7 }( K! ?4 H+ P: JBMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50
/ B. e4 L6 ` r+ e1 Q7 s' V9 V6 e5 yParadigm Capital maintains "buy", 12-month target price is $4.00
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)
( N2 g) Z/ b; H3 O. H$ o7 R8 eExpecting lower CFPU on higher taxes W- E+ O. ~- S" c0 g& Z
BMO Capital Markets continues "outperform", 12-month target price is $18.005 t2 w# D7 P+ i* U
RBC Capital Markets continues "sector perform", 12-month target price is $12.00
m' T- m+ {# U! M8 X8 MTD Newcrest continues "buy", 12-month target price is $17.004 T: L- _5 B x( L+ V% F$ F
6 P, m; a& w/ m* w Z7 BNorthgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86). \* Y* _# X, W
Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain
8 e8 ?/ I, [/ G2 {' w. iBlackmont Capital continues "hold", 12-month target price is reduced to $1.251 y" ?. J! F3 v8 h* |
Credit Suisse maintains "neutral", 12-month target price is US$1.00
! H3 B* k- L# r1 {0 P) |Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80: v- M$ s2 L! }# O. R3 ?' E9 l' y
* U. I* _& e# x v4 }- h. }* U$ PNeptune Tech & Bioresources (NTB : TSX-V : $0.79)
8 X9 Q$ N9 @: _0 V& ~3 j. [$ wDietary supplement business facing headwinds- I( ~# `% `: L e2 C- U. O
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00
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Open Range Energy (ONR : TSX : $1.18)
9 b( Y6 w- L6 z& UProvided operational update and F09 guidance
9 i- y( W3 O3 H- tHaywood Securities continues "sector outperform", 12-month target price is $3.25; W/ g$ x, G7 J
6 D# W5 t Y/ ROsisko Mining (OSK : TSX : $3.13)8 g% i, |( B) O2 Q" I+ S
South Barnat resource around the corner
& {5 i. M( w+ CParadigm Capital continues "speculative buy", 12-month target price is $4.75 Y/ m& B% l& A, w9 b5 k' o
: ?9 U7 n* L( C/ a8 }* LPan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)* Z0 P$ r, O7 Y2 g3 o. j
Provided operational update
5 X j5 Q% m# I( F8 c% W/ S6 SBlackmont Capital maintains "hold", 12-month target price is lowered to $19.00! t+ x) m% r Y4 ` C* A+ s3 m
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) N! p# K5 o' h4 ^3 C s" y
Provided operational update: Grande Prairie emerging as the key focus for F091 B3 c, s* J! G1 H
GMP Securities maintains "buy", 12-month target price is $12.00. v; e; {8 k( `* Y3 H
/ T- [: g! Y9 c( W1 y8 {0 cRockwell Diamonds (RDI : TSX : $0.07)- u* n0 i3 y, p
Operations starting to turn the corner3 k$ n% S- m! B ^; h9 d; y; L8 k$ O% D
RBC Capital Markets maintains "outperform", no target price reported3 y- ~) `/ h; I0 i
0 z0 l8 C6 Y8 ^3 n5 B9 UShaw Communications (SJR.B : TSX : $20.13)
- |" s* r* E9 O0 M1 W" z8 l [Released Q1/09 results: in line, subscribers ahead; n0 I( C9 `5 H+ u( a+ J
Credit Suisse maintains "neutral", 12-month target price is $25.50/ t: P0 G8 M# T8 Z2 B
GMP Securities continues "buy", 12-month target price is $26.50) T# W3 h8 @, b% t
: p, }- q. c z. h& V8 I8 S- X* P6 ASun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)
$ b9 `0 S X3 W1 O) _; r8 C4 PHeld a sell-side lunch showcasing new U.S. team
: x. v; P" F" l: \Scotia Capital Markets maintains "sector perform", 12-month target price is $33.00' {+ a1 V/ S: F! e4 I" i8 L; Y
M& @& W5 w5 S/ @! @0 v! u" a9 I1 q1 _Trican Well Service (TCW : TSX : $6.93)4 Y- r0 `7 m+ L Y$ u) T9 [
Awarded Russian contracts7 |' Q z8 }# N# u
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75
2 h: j, ^# R, ~Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00" `) C" M# v' L
RBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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Sino-Forest Corp. (TRE : TSX : $8.93)) Z* p- r5 H4 `. i! e& }: O1 u
Chinese furniture exports rose in November
4 _. F s+ o% r: ~2 RDundee Capital Markets maintains "buy", 12-month target price is $23.50+ [/ D* D. y9 x6 E9 f7 P
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UEX Corp. (UEX : TSX : $0.88)
d# a2 U! K' Y9 q! X; d+ k0 kShea Creek's two largest deposits have become one: r/ H* D, X% Y6 t
Dundee Capital Markets maintains "buy", 12-month target price is $2.75
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7 Z$ {; Y r/ }Vero Energy (VRO : TSX : $4.72)$ n+ D, T8 v6 Y; V) ?" T
Released Q4/08 results: horizontal focus to continue in F09$ O. G* i/ U6 ?% i9 g7 q* p0 N# v
Dundee Capital Markets continues "buy", 12-month target price is $8.00, ?; G# s4 d$ N, M! @
GMP Securities continues "buy", 12-month target price is $7.50
+ X- D9 N9 \' c) w% k; xParadigm Capital continues "buy", 12-month target price is $12.00- C, w( g1 p: Z2 ~
RBC Capital Markets maintains "outperform", 12-month target price is $8.50
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Wi-Lan Inc (WIN : TSX : $1.75)
. e* ]; b5 @( v0 GHit homerun with Samsung, {, O: g& i9 C0 P* W$ ]
Paradigm Capital continues "buy", 12-month target price is $3.50 |
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