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Ear on the Street --- Jan. 16 2009' O: n& B1 c8 l+ o& e# E
3 u; V7 ]) T# U5 _, BAbsolute Software (ABT : TSX : $3.36)+ v2 P. @( D h6 s( t5 K
Bracing for a tough few quarters9 Q5 f( B# e- Z2 w
Canaccord Capital maintains "hold", 12-month target price is $4.50" b5 J! T" X3 Y6 G. ~( A
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Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)8 k% j* r; I% K% {) b. }) R
Growth outlook, challenging pipeline and high cost structure make future unclear
7 V+ M$ u' y YBlackmont Capital continues "hold", 12-month target price is lowered to $48.00
$ B) S: m' J q3 y* A# X5 U) o& eTD 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)
# B. Y+ Y& s1 `# G! RReleased Q1/09 results: strong, in light of challenging operating environment7 q& N4 U3 U. D4 K* V' K
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00; H2 F2 _# [% _- ? e% w
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00/ W! y: w+ T% q, ?
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
5 b! S: L! \) @& k. H3 T! d% s. kRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00( L6 a8 [$ R5 O& y' W, z
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)5 n5 i0 S8 T; Q2 E
Well positioned with gold production forecast to double this year and next
; l' N" B! D; }: UBlackmont Capital continues "buy", 12-month target price is lowered to $83.00
' r: o5 W- m5 V2 n6 R- A! c1 Y3 r6 n( W& ATD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00
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5 ^1 l2 f& f) s, G0 X( |2 V5 PARC Energy Trust (AET.UN : TSX : $17.15)
# C; {4 [5 }2 D- `Reduced distributions by 20%; capex also cut
`4 j' c7 `; O3 z- SRBC Capital Markets continues "outperform", 12-month target price is $19.00
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Andean Resources (AND : TSX : $0.75)
]8 A0 v- f- h( V9 C0 S4 S. nAnnounced F09 outlook
# j4 ` O2 {7 ?- i4 {6 h3 [Paradigm Capital continues "speculative buy", 12-month target price is $2.25
8 a6 ^# o+ Z: v+ ?: y3 k& ^TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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1 B4 r' b8 h! P" [' dBombardier Inc. (BBD.B : TSX : $4.65)
& T+ X- T# D/ [' ~. vRising challenges in Aerospace3 U* n# E# X4 R/ b- J! _
GMP Securities continues "buy", 12-month target price is $8.00$ C3 @+ q; d% s
" z( {: G4 G$ A- fBank of Montreal (BMO : TSX : $31.84)$ j" J, x( D6 Y. O1 c3 M
Acquiring AIG's Canadian life insurance business- m% @! ?& n5 J5 w" a( ?" j8 j: R& p6 E
TD Newcrest continues "hold", 12-month target price is $37.00+ t0 S5 j w/ K, k( M
" h& \* a& K& y: _* r( W- W# a7 ~* pCogeco Cable (CCA : TSX : $33.37)
% Q+ z/ Y/ H N( @1 x* QQ1 review: Canada results encouraging, but Portugal remains a drag8 w6 t0 ?* ^$ s( }7 Q; u5 W
BMO Capital Markets maintains "outperform", 12-month target price is $46.00
. [% f6 a1 I6 r) ~' G x5 RDesjardins Securities continues "top pick", 12-month target price is $40.00- `6 y; Z. Q; [
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00
6 G+ |: H, f; k1 ^* r0 u# XScotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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( D) K; y6 j4 f1 h; H$ Y( [Corridor Resources (CDH : TSX : $2.45), R1 s. \* O/ y: N# T
Capital budget set to expected cash flow; production guidance lowered
) ^! Y' K! m0 L4 J& D+ kRBC Capital Markets maintains "outperform", 12-month target price is $4.25 l8 m1 X9 p# t7 u$ |4 Z) W
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COGECO Inc. (CGO : TSX : $25.14)
4 d' Z- k% D% w# L( fStrong radio and cable drives 39% EPS growth
9 }0 L0 U, m2 s& \Scotia Capital Markets continues "sector perform", 12-month target price is $45.00
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+ @: A, c+ r: {( R. L. {CanWest Global Communications (CGS : TSX : $0.51)
# P* Z. a1 x; @+ ]Taking action to address tough operating environment G. j8 M0 J- {+ p9 j) E5 o" Y7 L
BMO Capital Markets maintains "underperform", no target price reported
8 W# S/ Q2 d* W4 G* N) gCredit Suisse maintains "neutral", 12-month target price is $1.00
" R) W, ^( W2 G, m& x( _, jGMP Securities continues "reduce", 12-month target price is $0.503 x* K f) ~, [
RBC Capital Markets continues "underperform", 12-month target price is $0.754 \4 p9 n6 E( ?
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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' z$ U) b2 v9 i% ECorus Entertainment (CJR.B : TSX : $12.47)
0 B- ^% a/ I0 Z( k3 }% PQ1 revenues in line, EPS beat4 |5 ]; J: l9 a
BMO Capital Markets continues "market perform", 12-month target price is cut to $15.00
' _* P5 g6 K# ^! Z6 n2 t9 @9 |7 U& ]. NCredit Suisse continues "outperform", 12-month target price is $20.00' I$ B" h! g3 w# |
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00
$ D2 A: v8 L% D- i O; B1 J, x' bGMP Securities maintains "buy", 12-month target price is reduced to $17.00
( j" G4 s' }4 `RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50) e- x3 K6 M5 s
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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Calloway REIT (CWT.UN : TSX : $11.84)9 A6 b* @. e# }
Held investor day, ]6 H$ }' k: D k; T; e
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.009 R6 R8 m: ?. V* B3 C" D8 k# M5 O
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Daylight Resources Trust (DAY.UN : TSX : $7.77)
5 X' z5 z5 S+ C c) a' Z6 NReduced distributions by 38%; guided for lower capex
( {4 L6 q' o$ z# R( tBMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00
, D- |, ]2 X; Z1 C+ o2 F2 Y2 Y' NDundee Capital Markets continues "buy", 12-month target price is $12.00
8 z' j1 a; J4 i$ rTD Newcrest continues "hold", 12-month target price is $7.50
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2 R5 M0 q0 J2 \* P0 G( CEXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)
1 K! U4 a2 V/ k, ?7 r* sSteady market and currency tailwind
( x, k0 {- T8 c- Q5 X, J* V, z+ ]& JTD Newcrest maintains "buy", 12-month target price is US$5.00- y) W4 x7 @0 u( w% ?$ x0 D
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Goldcorp Inc. (G : TSX : $29.74)- @$ u. `4 ]5 \
Revised commodity forecasts, F" W9 v' b) ^7 L- w: D
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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Heritage Oil (HOC : TSX : $3.77)
/ N( z) B9 e6 `; ?Announced Ugandan commerciality on exploration success/ c. `' l& I! w2 a& b
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50/ q( |; a8 o. F, X. I- G/ c+ I
4 n5 k1 y/ T* R9 u$ a; k! dHarry Winston Diamond (HW : TSX : $4.98)7 Y- d0 F6 P6 R
Retail division suffers
, G+ |4 e+ U( w% O( ^9 YDesjardins Securities maintains "buy", 12-month target price is $12.60
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- {& \5 _8 m/ E7 M) `Laramide Resources (LAM : TSX : $1.84)2 y: a& V/ r* e6 D: v0 z* `8 S5 `' c
Westmoreland provided more high grade at Redtree's Jack Lens& @# s; S1 t# {% S) Z7 G
Dundee Capital Markets continues "buy", 12-month target price is $2.30# ?5 F7 P) ~, r7 |$ y, o# N! a
8 q# F k6 J, L* {: u$ _- QLockerbie & Hole (LH : TSX : $6.00)4 A: ?' d' `6 t0 W- Q
Released Q3/09 results: very strong, focus should be on active backlog
/ w* O) Q2 w1 Q3 l" | |0 \- F ^GMP Securities continues "buy", 12-month target price is $9.00, V: M/ Q* g) Q" S
Raymond James maintains "market perform", 6-12 month target price is $8.252 O' e" c8 S2 N- e7 z) [
' ^ q2 q4 q0 E* F( CLivingston Intl Income Fund (LIV.UN : TSX : $6.00)
, T W8 ]( d$ Y& f5 [4 RReduced distributions by 70%; R7 _, {0 e6 ] q
RBC Capital Markets maintains "outperform", no target price reported: X8 F5 [7 D1 _, b0 e2 I8 ?
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50. G9 W5 d) ^+ y- v( v
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Matrikon Inc. (MTK : TSX : $2.04)
7 B" f( @+ j$ N2 P4 |( kReleased Q1/09 results: a little light, but still respectable
V9 u7 |, b4 J/ m: a1 KBMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50
/ S( \; j5 x& }; y1 aParadigm Capital maintains "buy", 12-month target price is $4.00
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1 m5 Y2 Y4 k5 l; E. OMullen Group Income Fund (MTL.UN : TSX : $10.97)
8 {6 n% U$ t* Q/ o9 r. qExpecting lower CFPU on higher taxes' N1 }4 U. v6 k' W; s
BMO Capital Markets continues "outperform", 12-month target price is $18.00: L) o& j* u) a9 L
RBC Capital Markets continues "sector perform", 12-month target price is $12.00& F5 L$ D0 K# X0 h3 [
TD Newcrest continues "buy", 12-month target price is $17.00
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, @7 j9 P6 v. W* zNorthgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)
( H. e2 I+ e0 Q1 s! z" ?Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain/ ~2 K8 O' p. H/ ]+ e% B
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25
5 g- b* q: q9 Q- m& }Credit Suisse maintains "neutral", 12-month target price is US$1.00
7 g- z5 Y" d, XScotia 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)
& ^; h0 u8 z; X7 K/ u+ N! d9 dDietary supplement business facing headwinds1 r7 e) x* N' A# ^2 J: l9 T# U" ~
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00' W' b2 ]+ z8 f4 }, s% p
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Open Range Energy (ONR : TSX : $1.18)
# N+ I. i) e5 C* G& K/ ^; sProvided operational update and F09 guidance" ?/ ?$ j' P! P+ G7 n, F6 D
Haywood Securities continues "sector outperform", 12-month target price is $3.250 O5 ~9 v! H# `) \
) ?+ `2 ?2 o5 F% X5 T. `Osisko Mining (OSK : TSX : $3.13)
9 m" j2 o# B0 e, h- uSouth Barnat resource around the corner
8 L; h4 @5 h3 [. }! L6 AParadigm 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) U; `& ?! L& K3 F2 k
Provided operational update2 t7 T8 k& f% ?, F
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.00. I. A, m$ a# A: I- |" e( F# U
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50/ k3 }2 U- _* e2 s
. u& k6 T$ |! w2 v! _Paramount Resources (POU : TSX : $7.85)
1 E# Y8 f, j; R: oProvided operational update: Grande Prairie emerging as the key focus for F09# M9 r1 a9 t3 Z+ g7 L
GMP Securities maintains "buy", 12-month target price is $12.00# l; H" }' [; t$ D: \8 X% ]9 D
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Rockwell Diamonds (RDI : TSX : $0.07)
8 ~. J- V5 ]# i e/ JOperations starting to turn the corner( j5 @* N. D: J: o. X" I
RBC Capital Markets maintains "outperform", no target price reported6 C( p% y3 j) e" V0 C
$ ^3 C" h0 U4 A. @& g$ S; X" j/ FShaw Communications (SJR.B : TSX : $20.13)3 c2 t5 H/ Y4 }9 ?3 J9 S. |
Released Q1/09 results: in line, subscribers ahead& ]3 a& L9 d' {4 ?
Credit Suisse maintains "neutral", 12-month target price is $25.50 p( A8 U/ n% M4 }- j' ^
GMP Securities continues "buy", 12-month target price is $26.50
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8 s' A2 H" I0 n; lSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)
9 p3 r8 p7 F2 H( O4 ?* RHeld a sell-side lunch showcasing new U.S. team% R5 q; ?/ z: i2 w' |
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.00
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Trican Well Service (TCW : TSX : $6.93)" ]( b: W" c; O6 _+ O* g" K- [
Awarded Russian contracts
; \; _, `$ o4 Z* j! a. uBlackmont Capital maintains "hold", 12-month target price is reduced to $8.750 s4 Q/ p4 C3 @( }$ I% l+ ~
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00
( G. \5 |; b% m o% e# o" o% z5 HRBC Capital Markets maintains "sector perform", 12-month target price is $10.004 Q& w1 |( |: s* r5 m/ W) i, ^
' S% h0 m U R( C9 s0 X5 Q+ XSino-Forest Corp. (TRE : TSX : $8.93)
- i2 \ \8 \" MChinese furniture exports rose in November9 `- [" c4 x4 Q. \ }1 e% g
Dundee Capital Markets maintains "buy", 12-month target price is $23.50
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UEX Corp. (UEX : TSX : $0.88)& k2 C; c4 E4 ~9 e! V
Shea Creek's two largest deposits have become one+ G% I0 R+ C \1 B
Dundee Capital Markets maintains "buy", 12-month target price is $2.75
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3 d& }$ n1 T: X( u. s- e _Vero Energy (VRO : TSX : $4.72)
0 O8 v! ~8 {$ y: D4 qReleased Q4/08 results: horizontal focus to continue in F09
& \% `- P3 u. B5 t; G5 M2 }Dundee Capital Markets continues "buy", 12-month target price is $8.00, O- g6 x( s* z4 I0 Y/ r/ O
GMP Securities continues "buy", 12-month target price is $7.50
3 c7 X; E7 G. c* `& ~Paradigm Capital continues "buy", 12-month target price is $12.00
. ~& q: n" l- k2 _" q5 `RBC Capital Markets maintains "outperform", 12-month target price is $8.50
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' ~3 J! f3 c" UWi-Lan Inc (WIN : TSX : $1.75)1 h" J( r, ?# _2 C
Hit homerun with Samsung
. L* m j, z2 f7 ?; SParadigm Capital continues "buy", 12-month target price is $3.50 |
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