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Ear on the Street --- Jan. 16 2009! K' b8 O' n6 z: g
8 c* [- O- I' _5 s3 W: ]Absolute Software (ABT : TSX : $3.36)
) J) R" e3 y1 p1 \6 ]" e# wBracing for a tough few quarters4 _1 O: H9 Z5 f6 q0 O
Canaccord Capital maintains "hold", 12-month target price is $4.504 Y h! u+ @+ s3 y
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Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)" O" U" I& j l% [* b
Growth outlook, challenging pipeline and high cost structure make future unclear
- R! [" j3 [1 y; Z5 C0 S# t/ tBlackmont Capital continues "hold", 12-month target price is lowered to $48.004 t | n! [) a2 U/ {6 b; Y# X
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00
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' Y4 B5 E3 h& FAstral Media (ACM.A : TSX : $22.98), C! w [4 S) _1 p7 N* T1 d
Released Q1/09 results: strong, in light of challenging operating environment+ M' @( h$ l$ b- f: B/ k
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00
! v1 q+ ?% F& XDesjardins Securities maintains "buy", 12-month target price is slashed to $28.00& u: o1 Y0 O9 N! o: b
GMP Securities maintains "buy", 12-month target price is reduced to $30.004 J3 x- E2 I+ s! Q' S) b
RBC Capital Markets continues "outperform", 12-month target price is raised to $31.00
f2 R# [6 M! O7 T$ u( ?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)4 A, S. p4 s5 D. d
Well positioned with gold production forecast to double this year and next
" g+ p7 Z/ n' c% ]Blackmont Capital continues "buy", 12-month target price is lowered to $83.002 O* T% t+ H+ a+ [3 {
TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.001 ^9 e* ~, F, N+ c# n2 M0 M# p
- b3 }- i) L0 ~1 W5 T8 D+ rARC Energy Trust (AET.UN : TSX : $17.15)
% A6 t2 ?4 R+ r( J9 C4 q9 kReduced distributions by 20%; capex also cut
% s' P$ i( i8 ]5 QRBC Capital Markets continues "outperform", 12-month target price is $19.00
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. C* N6 w- o& V2 n( c/ K5 w) C! ~+ ^# RAndean Resources (AND : TSX : $0.75)
: _3 ~3 |! A: n% NAnnounced F09 outlook
3 w# a* ]' |: \3 q9 }Paradigm Capital continues "speculative buy", 12-month target price is $2.250 a# ~# L. ~; `
TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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Bombardier Inc. (BBD.B : TSX : $4.65)/ k. F' y: w! e: C8 I! `
Rising challenges in Aerospace
# \* ^- U: A% q2 a. T" ?( u$ QGMP Securities continues "buy", 12-month target price is $8.00* ^8 k# ?5 n' H9 J
& _+ L9 `1 r# o6 a* VBank of Montreal (BMO : TSX : $31.84)
* h2 M- f3 e3 e4 S) [$ c* dAcquiring AIG's Canadian life insurance business: h& P4 s6 A7 j( u- ^/ r& u! {
TD Newcrest continues "hold", 12-month target price is $37.00) J4 {6 y1 J# d L
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Cogeco Cable (CCA : TSX : $33.37)+ H& I5 U+ c0 H) z3 o4 j( N# C6 z
Q1 review: Canada results encouraging, but Portugal remains a drag
( `: ^' ?! j! oBMO Capital Markets maintains "outperform", 12-month target price is $46.00, `1 \ C. h3 v1 I7 J( n; v- E
Desjardins Securities continues "top pick", 12-month target price is $40.00. C R; }1 M! V1 M
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00
& o: c N A* B8 E% S jScotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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Corridor Resources (CDH : TSX : $2.45)+ Z, a2 p9 z0 b
Capital budget set to expected cash flow; production guidance lowered4 A, L" j! q3 R5 [7 M
RBC Capital Markets maintains "outperform", 12-month target price is $4.25( ~) x( v- f" { B' b# S
6 y% t( E! s' s/ `$ s5 j8 |COGECO Inc. (CGO : TSX : $25.14)
! S% j8 V6 f0 _' Z- ?. }Strong radio and cable drives 39% EPS growth2 o1 }9 j3 ` t1 S5 R
Scotia Capital Markets continues "sector perform", 12-month target price is $45.00
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. i* L( m6 @$ i: d6 w: n1 CCanWest Global Communications (CGS : TSX : $0.51)+ o9 h/ _8 l+ w; H' v
Taking action to address tough operating environment' L' v* i; ^ `8 E& k* N# u) C
BMO Capital Markets maintains "underperform", no target price reported
4 ]- D# j0 U, w, i$ l6 B! cCredit Suisse maintains "neutral", 12-month target price is $1.00* y5 k* _7 {5 D0 G" `$ @* O' r' m4 M3 S
GMP Securities continues "reduce", 12-month target price is $0.500 ]4 [ o: f+ q7 g( r6 r* X$ o
RBC Capital Markets continues "underperform", 12-month target price is $0.75
* h, Y- X& X5 I* ~; y9 nScotia Capital Markets continues "sector underperform", 12-month target price is $0.50; ?$ ? R8 Y" G
2 [ F4 Z, n1 XCorus Entertainment (CJR.B : TSX : $12.47)- q, |- U% n" c( @ o4 Y
Q1 revenues in line, EPS beat
# A6 ^( z0 P$ f( lBMO Capital Markets continues "market perform", 12-month target price is cut to $15.00
6 p: S/ S5 F: H5 k* ~! m) w8 oCredit Suisse continues "outperform", 12-month target price is $20.00! `* z, c- g) U- i8 d q" [7 N
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.008 ~& s7 c* g& L8 {- }5 ~
GMP Securities maintains "buy", 12-month target price is reduced to $17.00
- G" d, m( L- c, bRBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50# h# ], ~" h K- C, b: P
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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% g/ ?+ _( D2 W$ G% f1 ^Calloway REIT (CWT.UN : TSX : $11.84)3 p. m5 P8 a# M- X% Y
Held investor day
$ @- H1 R8 e7 v8 IScotia Capital Markets maintains "sector underperform", 12-month target price is $11.00. v9 J& D q8 T) y6 I& w9 R. l
, G0 B, K5 T5 j& S; KDaylight Resources Trust (DAY.UN : TSX : $7.77)
( l& }1 T* O' e a/ V3 ?1 nReduced distributions by 38%; guided for lower capex2 g% G( u/ x8 `2 e9 n5 c
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00
7 H1 W ]4 _* IDundee Capital Markets continues "buy", 12-month target price is $12.00
7 v( \ k# e+ K* a. zTD Newcrest continues "hold", 12-month target price is $7.503 {/ T2 w( E' G
1 D0 k9 I/ w9 o: UEXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)4 b9 s! u. q7 ?' H2 |) {
Steady market and currency tailwind
5 L8 Z# a- s3 N6 C" yTD Newcrest maintains "buy", 12-month target price is US$5.00
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Goldcorp Inc. (G : TSX : $29.74)" @7 Y1 l6 z, k/ N
Revised commodity forecasts( S# h& {$ o: ]6 X! t
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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C* k" `# ]9 o; ?" q" HHeritage Oil (HOC : TSX : $3.77)
4 R' l; b( M/ H: I$ y$ C2 LAnnounced Ugandan commerciality on exploration success
- r, { t, R2 w' y) MTD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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Harry Winston Diamond (HW : TSX : $4.98)
) N: ` }: ?9 l) X9 qRetail division suffers
A4 \$ e+ W2 W% p% s J9 fDesjardins Securities maintains "buy", 12-month target price is $12.60
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$ {- ]! U5 w* [6 c4 ^, E$ tLaramide Resources (LAM : TSX : $1.84)% ^8 Q$ }; N( Y; x/ e$ c
Westmoreland provided more high grade at Redtree's Jack Lens
& A8 f) i- f( \ d8 bDundee Capital Markets continues "buy", 12-month target price is $2.305 X/ y. a% x2 V& k% Q, b0 {' E3 s
+ P! q8 O: r! ELockerbie & Hole (LH : TSX : $6.00)
/ B3 N; d M) r$ D7 `0 w8 P/ ]8 U: PReleased Q3/09 results: very strong, focus should be on active backlog( |7 g$ v& f! q4 i
GMP Securities continues "buy", 12-month target price is $9.00/ c0 r( b- C% i, r" g+ f# p
Raymond James maintains "market perform", 6-12 month target price is $8.251 z, \$ Y" i* c5 }+ A h6 \! O
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Livingston Intl Income Fund (LIV.UN : TSX : $6.00)
8 S6 Z) U6 `7 p( x" }+ jReduced distributions by 70%
0 {: [: p$ F1 Z9 t- {( dRBC Capital Markets maintains "outperform", no target price reported
6 I& L! A- V- \( p! L6 w; `Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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Matrikon Inc. (MTK : TSX : $2.04)
: B) u' s4 j0 bReleased Q1/09 results: a little light, but still respectable
$ e/ |% |2 g2 F0 m. ]BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50
, p4 K4 Q7 c1 C6 D! v6 u; V+ |% `Paradigm Capital maintains "buy", 12-month target price is $4.00; H0 X/ N) ~. l& x7 s
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)
# u% O, X* H& q( T0 wExpecting lower CFPU on higher taxes
& H6 s H( m8 {9 ^BMO Capital Markets continues "outperform", 12-month target price is $18.00
) K# l5 S1 s% `# u2 VRBC Capital Markets continues "sector perform", 12-month target price is $12.00
) ]. a4 M5 c/ y+ {TD 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)0 K. R n; ~, E. v3 V1 _
Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain
8 K) _1 k# x( {" h3 [Blackmont Capital continues "hold", 12-month target price is reduced to $1.25; Y! W+ _% c- _- D- T
Credit Suisse maintains "neutral", 12-month target price is US$1.00- h9 Z* x/ q& H9 L
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.800 w; `" \( i6 |# J
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Neptune Tech & Bioresources (NTB : TSX-V : $0.79)
/ [- p1 o* J+ Y& e; x- Z. W% mDietary supplement business facing headwinds
. z _ ?3 n9 `7 g! SParadigm Capital maintains "buy", 12-month target price is reduced to $4.004 S7 u, R: J0 Y- L' S
% S4 X& b* l: H9 |Open Range Energy (ONR : TSX : $1.18)6 w& \9 A6 ^$ R C
Provided operational update and F09 guidance: ]* p; d1 p0 M
Haywood Securities continues "sector outperform", 12-month target price is $3.25# k" \/ r% V* d" y' [ F, }
! H( t& c% q1 H# Z/ {Osisko Mining (OSK : TSX : $3.13)
3 E1 t3 {% a2 q0 E+ q1 F& I; g7 Q6 HSouth Barnat resource around the corner( L% h9 x+ C. s$ G7 Q
Paradigm Capital continues "speculative buy", 12-month target price is $4.75
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; j. C4 m' j) f- h' u9 j XPan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)8 M, L- s& g7 \
Provided operational update
6 V6 K( |9 H% f2 c6 d" xBlackmont Capital maintains "hold", 12-month target price is lowered to $19.00. Z1 C1 O# X- i. z
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)4 c# W& W+ S+ v, O. E" |
Provided operational update: Grande Prairie emerging as the key focus for F09
, r+ I' Q- w6 A6 R4 Q2 K. r. kGMP Securities maintains "buy", 12-month target price is $12.00
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Rockwell Diamonds (RDI : TSX : $0.07)$ k. f. M6 w4 K' n
Operations starting to turn the corner
+ Y0 O) L8 Y% L" [RBC Capital Markets maintains "outperform", no target price reported" D. Z7 x- t6 l7 E
j3 J9 ~: ?% U) Q7 cShaw Communications (SJR.B : TSX : $20.13)
, y% I) b, y9 I. F4 J" V7 w3 EReleased Q1/09 results: in line, subscribers ahead
# e. |9 ]8 R& f! L( C, [Credit Suisse maintains "neutral", 12-month target price is $25.50+ ]# z% h/ A: N b/ |$ y
GMP Securities continues "buy", 12-month target price is $26.50! o4 M1 @& J# ^6 V8 F" b, T
& N' @! I1 r9 t0 K% o6 c1 D2 gSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)
& _6 |7 L( Y! G; u1 bHeld a sell-side lunch showcasing new U.S. team
$ }" \: Z0 \% ^) h* L; ^0 w/ qScotia Capital Markets maintains "sector perform", 12-month target price is $33.00
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& a0 s) P+ s0 Z) S4 N- e, ^' ITrican Well Service (TCW : TSX : $6.93)
+ S2 R6 U. Q$ A/ b, _Awarded Russian contracts
+ `$ n$ M* R$ [; B' Z- `# m" K3 M* HBlackmont Capital maintains "hold", 12-month target price is reduced to $8.75' Q* ?1 F& K# v4 D' A. K+ y6 m) n6 ~8 x
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00
! C& Y: Q$ f+ f$ e& R5 k" HRBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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6 }) r" c+ t- DSino-Forest Corp. (TRE : TSX : $8.93)
: L$ I' X/ X7 Y7 [( g$ N6 L. NChinese furniture exports rose in November. ~+ o" W* w) V3 m
Dundee Capital Markets maintains "buy", 12-month target price is $23.50
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UEX Corp. (UEX : TSX : $0.88)
; B9 _$ j0 U3 \! AShea Creek's two largest deposits have become one& i# u! A3 G3 t; }6 I& @
Dundee Capital Markets maintains "buy", 12-month target price is $2.75
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Vero Energy (VRO : TSX : $4.72)
: V- ` J6 P7 z0 C* z& fReleased Q4/08 results: horizontal focus to continue in F09
; w( d2 M- f: U( [; p3 @Dundee Capital Markets continues "buy", 12-month target price is $8.00
6 f4 I; M" W2 T i& RGMP Securities continues "buy", 12-month target price is $7.501 X/ r7 Z& m/ M D
Paradigm Capital continues "buy", 12-month target price is $12.00
) n! f: Q7 d2 ^% ]* [RBC Capital Markets maintains "outperform", 12-month target price is $8.503 X/ ` C; ]) _$ e
) D$ y9 B- \, M5 x6 w! a |& sWi-Lan Inc (WIN : TSX : $1.75); G# {+ \/ o% c; V9 G8 o* L
Hit homerun with Samsung
* j; O' Y# r+ Y" y, dParadigm Capital continues "buy", 12-month target price is $3.50 |
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