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Ear on the Street --- Jan. 16 2009+ p5 ]7 o$ x5 K: r+ S+ P2 M
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Absolute Software (ABT : TSX : $3.36)2 i E3 g4 b0 D9 ~
Bracing for a tough few quarters# C1 N4 a* G/ z$ g, o8 p
Canaccord Capital maintains "hold", 12-month target price is $4.507 N; b7 @9 |4 ~( O
7 _ `, k. N' }. SBarrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)9 _% I* Z/ n) O
Growth outlook, challenging pipeline and high cost structure make future unclear
+ n: \ P( v# X% G& D. g; C8 p3 zBlackmont Capital continues "hold", 12-month target price is lowered to $48.00, |2 j: m) l6 `& F3 B5 V
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00
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6 R( Q1 a& k- L' i+ MAstral Media (ACM.A : TSX : $22.98), ~+ n1 e+ U& P- m
Released Q1/09 results: strong, in light of challenging operating environment, J6 W$ q- r6 W
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00
( R& i$ @8 |- ` N, xDesjardins Securities maintains "buy", 12-month target price is slashed to $28.00. ?* s: V! Y( t, s
GMP Securities maintains "buy", 12-month target price is reduced to $30.00) f6 q- F @% X$ X( u5 W6 g
RBC Capital Markets continues "outperform", 12-month target price is raised to $31.00
" f5 |" y) x0 ~$ Q2 ]; t2 j" eScotia 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)- V7 x3 C) r4 k. [3 y" P# Y% o
Well positioned with gold production forecast to double this year and next/ h* ]& G% `8 M. _" V* L' p
Blackmont Capital continues "buy", 12-month target price is lowered to $83.007 o; W( L& o$ t: ~
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 : $17.15)
! r$ O: s1 W! {. U4 yReduced distributions by 20%; capex also cut4 W! E2 o( d3 U, l+ \/ F. m3 x
RBC Capital Markets continues "outperform", 12-month target price is $19.00
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Andean Resources (AND : TSX : $0.75)+ Q; ~! b, b* a. G/ m8 p! I
Announced F09 outlook
+ B, ^$ Q2 E6 N. T( qParadigm Capital continues "speculative buy", 12-month target price is $2.25) Y9 i6 I- D' C# a* z) I
TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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Bombardier Inc. (BBD.B : TSX : $4.65)
2 M C% z2 C0 ?5 x; f1 P1 F0 XRising challenges in Aerospace; j$ o! T7 p6 }6 W: K: @
GMP Securities continues "buy", 12-month target price is $8.005 a% R6 ` p( x1 o9 h- x
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Bank of Montreal (BMO : TSX : $31.84) `+ _; N& U L: b
Acquiring AIG's Canadian life insurance business1 U5 O8 m+ x" E ]0 T$ S, y) A
TD Newcrest continues "hold", 12-month target price is $37.00
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Cogeco Cable (CCA : TSX : $33.37)
3 Q5 [7 X- h& Q1 L! TQ1 review: Canada results encouraging, but Portugal remains a drag
1 ]. Q7 E; O, W, CBMO Capital Markets maintains "outperform", 12-month target price is $46.004 O6 G" A% E- B7 m5 I3 r
Desjardins Securities continues "top pick", 12-month target price is $40.00
5 [0 f1 |1 V, s# vRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00" |$ w6 b9 r E7 { p
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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Corridor Resources (CDH : TSX : $2.45)" h6 e( X1 p6 O7 n7 m
Capital budget set to expected cash flow; production guidance lowered6 ]* q6 J6 _- V# f3 H8 @- ?
RBC Capital Markets maintains "outperform", 12-month target price is $4.25
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8 }; F: L) j! t7 y$ f4 T; C) x* kCOGECO Inc. (CGO : TSX : $25.14). u) m0 x+ y& W7 M9 V+ Z9 w! v
Strong radio and cable drives 39% EPS growth
$ C) b3 {# M. L J; A7 e, Z5 jScotia Capital Markets continues "sector perform", 12-month target price is $45.00
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CanWest Global Communications (CGS : TSX : $0.51)! I" J3 o( a; d' j' s) m; u$ W9 }
Taking action to address tough operating environment
% i ?& C: o5 q9 U9 EBMO Capital Markets maintains "underperform", no target price reported
3 K- z8 x9 c% c! j5 Z/ RCredit Suisse maintains "neutral", 12-month target price is $1.00
3 T, M% Q! S5 _$ r& W8 [GMP Securities continues "reduce", 12-month target price is $0.503 s. y; u1 N! {3 p: ^
RBC Capital Markets continues "underperform", 12-month target price is $0.75
4 R/ J! V% y* q7 L: ?' Y ?Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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Corus Entertainment (CJR.B : TSX : $12.47)
% x4 o9 h1 k. M6 t' x% W' vQ1 revenues in line, EPS beat
+ N9 C* Z. t4 J9 `BMO Capital Markets continues "market perform", 12-month target price is cut to $15.00
0 V3 {: l6 U3 w M9 mCredit Suisse continues "outperform", 12-month target price is $20.003 i6 H E( J! I1 n+ e
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00% A& q6 S6 k n. @! ]9 s
GMP Securities maintains "buy", 12-month target price is reduced to $17.00
& _3 s' {6 \5 pRBC Capital Markets maintains "outperform", 12-month target price is raised to $18.508 m5 e3 }4 L8 v3 K2 k5 _
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.007 n. ^ C/ p4 X4 P
: l. \) }& y% |1 }Calloway REIT (CWT.UN : TSX : $11.84)
& G8 `5 N& A# ^$ C- q8 _* QHeld investor day
1 v8 f" p; y2 _& ` [2 W) `# KScotia Capital Markets maintains "sector underperform", 12-month target price is $11.00
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Daylight Resources Trust (DAY.UN : TSX : $7.77)0 ?' |: d# P6 ?3 d: N8 l! ?
Reduced distributions by 38%; guided for lower capex
; q$ `" K& ~. M1 h y0 A" @BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00
, ?3 |/ q4 ^( i: ODundee Capital Markets continues "buy", 12-month target price is $12.00
9 ? e( R; K6 c% 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)
n( o3 s7 \& hSteady market and currency tailwind. P* N( n5 A4 n4 e8 H. `. b1 G- b
TD Newcrest maintains "buy", 12-month target price is US$5.00
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Goldcorp Inc. (G : TSX : $29.74)3 o; e2 [9 w4 P* d0 D
Revised commodity forecasts- _6 F& r! J! s& n
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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7 V* q# d, I. R- A O0 I! pHeritage Oil (HOC : TSX : $3.77)
, v. X( J8 }' GAnnounced Ugandan commerciality on exploration success2 ?9 f8 V* S" h9 {6 V+ @" |
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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$ q _9 h+ T) ?& C7 wHarry Winston Diamond (HW : TSX : $4.98)( w8 |0 C! q# K0 w M8 @
Retail division suffers3 _* T4 |) y4 q
Desjardins Securities maintains "buy", 12-month target price is $12.60
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Laramide Resources (LAM : TSX : $1.84)6 @' W9 A1 y& w: o
Westmoreland provided more high grade at Redtree's Jack Lens
! [& b2 B1 {$ _! m* ?6 SDundee Capital Markets continues "buy", 12-month target price is $2.30
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. L- r6 B7 ^# iLockerbie & Hole (LH : TSX : $6.00); A' M6 f6 b7 @. H: K/ L/ B
Released Q3/09 results: very strong, focus should be on active backlog
" R s+ l& A# B6 @GMP Securities continues "buy", 12-month target price is $9.00 E6 f: {% w1 s' d3 I$ W5 P/ q3 C" B
Raymond James maintains "market perform", 6-12 month target price is $8.25
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7 f J4 W# N& |8 A w- x( h+ O1 `Livingston Intl Income Fund (LIV.UN : TSX : $6.00)
! T2 C% O! o6 q/ K: g) n1 D3 jReduced distributions by 70%
! B4 i+ T& Z. ]! NRBC Capital Markets maintains "outperform", no target price reported# Y/ ?3 ~2 ^7 c& M7 j# i2 W1 c
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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- p2 p7 V3 w% N: h% jMatrikon Inc. (MTK : TSX : $2.04)& I. ~, J% `* X% n, y" {& I
Released Q1/09 results: a little light, but still respectable
* m. w% r& F k, A; yBMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50
- w+ t: U: p# o/ nParadigm Capital maintains "buy", 12-month target price is $4.00
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)
1 z. t/ q' p" QExpecting lower CFPU on higher taxes- U4 F* B1 }* e( h2 j$ w1 {& E- u R
BMO Capital Markets continues "outperform", 12-month target price is $18.009 {* f+ f1 W/ X1 P
RBC Capital Markets continues "sector perform", 12-month target price is $12.00- g; p& q; [2 h4 G M4 T
TD Newcrest continues "buy", 12-month target price is $17.00; E9 c& z7 U6 k; [; ?5 T
0 E( s, ? e. BNorthgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)
/ w+ s" m6 o/ ~Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain' F4 Y0 f2 A& \, w& _: a
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25/ n, x& D* Z5 F2 `4 O7 T' e
Credit Suisse maintains "neutral", 12-month target price is US$1.008 j* L6 o$ p# ?( S9 {
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.803 N0 n3 x5 n5 \9 R4 z C! w6 g
0 Q1 ?$ h8 C; I) \2 }3 }Neptune Tech & Bioresources (NTB : TSX-V : $0.79)0 ^( O4 n* f7 k+ K! a1 E: {
Dietary supplement business facing headwinds. v4 Y" i+ U; w' y+ n
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00
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# L5 {& B+ T; ]! y# p+ wOpen Range Energy (ONR : TSX : $1.18)
# u4 r1 d6 S- }( f4 TProvided operational update and F09 guidance* q8 Q" s7 r/ X `+ I
Haywood Securities continues "sector outperform", 12-month target price is $3.25
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& d# e6 j* O+ q( SOsisko Mining (OSK : TSX : $3.13)
# U# n+ r" i+ TSouth Barnat resource around the corner6 p7 J7 ^8 M+ R; f r9 u( R
Paradigm Capital continues "speculative buy", 12-month target price is $4.758 q* @9 R6 M* q; o2 ~, r/ f
9 ]; e9 u% l3 d! kPan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)
% N! \/ Y2 L/ L/ W7 Y) P0 VProvided operational update5 L% I$ X8 ]0 z
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.000 W# Z6 f3 c8 T/ v3 d' E$ Y z
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.503 N, I' j% X0 [2 E' [/ w
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Paramount Resources (POU : TSX : $7.85)6 o; o' d0 q7 l. P+ r& W
Provided operational update: Grande Prairie emerging as the key focus for F097 a: D7 g) s1 I# i0 K4 C
GMP Securities maintains "buy", 12-month target price is $12.004 E8 |7 W* |3 `1 U
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Rockwell Diamonds (RDI : TSX : $0.07)
" k6 \, x. ]+ ~9 n# ~! f6 `- FOperations starting to turn the corner
+ f3 J+ {. g% c( bRBC Capital Markets maintains "outperform", no target price reported! y/ d {1 @- |. G4 X
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Shaw Communications (SJR.B : TSX : $20.13)
5 G0 O( j! r: r- |" T5 AReleased Q1/09 results: in line, subscribers ahead
: b, Q7 m" A$ ]7 w$ |Credit Suisse maintains "neutral", 12-month target price is $25.50* c4 ^9 w% H. [/ ^/ \- y7 O; ?$ J5 @
GMP Securities continues "buy", 12-month target price is $26.500 w( F& h# A& l0 C
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Sun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)+ _9 P8 f/ Z, w5 U) r) r
Held a sell-side lunch showcasing new U.S. team
7 Z/ X9 ~; F. ?; S8 ]" nScotia Capital Markets maintains "sector perform", 12-month target price is $33.003 ~( j* w, |& w ?
' H1 ^: b) H/ o0 ~1 wTrican Well Service (TCW : TSX : $6.93)
# Z7 f) v. N3 JAwarded Russian contracts" _. y, B6 C9 i
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75
' ?& j3 Y$ }+ ~5 m: iRaymond James maintains "market perform", 6-12 month target price is lowered to $9.005 s7 j8 r2 @8 ^
RBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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5 G. t. O9 v0 e5 a0 w; mSino-Forest Corp. (TRE : TSX : $8.93)
: F' H: A$ x& ~! b: Q/ YChinese furniture exports rose in November/ V: C) V4 u; x9 C) t
Dundee Capital Markets maintains "buy", 12-month target price is $23.50
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; y. d: E5 L; @! J P0 ~UEX Corp. (UEX : TSX : $0.88)/ V' x2 g* L) u$ R
Shea Creek's two largest deposits have become one
. k7 }- K L3 L5 b* Y2 m. U* qDundee Capital Markets maintains "buy", 12-month target price is $2.75
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Vero Energy (VRO : TSX : $4.72)
! h1 v4 q1 A) D a# dReleased Q4/08 results: horizontal focus to continue in F096 M! A$ d7 M& l" L* ~; o
Dundee Capital Markets continues "buy", 12-month target price is $8.00
* V- J- R- {: Y- zGMP Securities continues "buy", 12-month target price is $7.50* }9 e1 d# n$ n9 N
Paradigm Capital continues "buy", 12-month target price is $12.00
1 H( I7 O2 |( H( ?& sRBC Capital Markets maintains "outperform", 12-month target price is $8.506 O3 s5 ~+ I m0 p" \
# [$ }& v/ x. `# H% dWi-Lan Inc (WIN : TSX : $1.75)( u! a X2 o9 g) B0 G, z
Hit homerun with Samsung5 |1 D3 L" G: J
Paradigm Capital continues "buy", 12-month target price is $3.50 |
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