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Ear on the Street --- Jan. 16 20093 r1 s9 M6 r: |- C, I* G
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Absolute Software (ABT : TSX : $3.36)
; A' [ K% f4 p _Bracing for a tough few quarters
& `8 O, V3 P/ G) e: m) cCanaccord Capital maintains "hold", 12-month target price is $4.50
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, v- E, m* w/ d7 x- P1 DBarrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)
; l4 z8 b* j5 q5 v8 o6 uGrowth outlook, challenging pipeline and high cost structure make future unclear
- j; ?9 b: E+ L& s3 }Blackmont Capital continues "hold", 12-month target price is lowered to $48.00; Y; X* b1 s j) O8 n
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00
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Astral Media (ACM.A : TSX : $22.98)
/ y/ G9 c2 u9 D$ qReleased Q1/09 results: strong, in light of challenging operating environment
% [: k( @ B1 [BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.006 a- t: W" T+ R. h+ m& _
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00
# w+ L# e8 x! A, W: [ PGMP Securities maintains "buy", 12-month target price is reduced to $30.00
) _& s B. |. v- ^8 D) R" U4 TRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00. G4 ]8 A( d5 n* z, c: V
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)
; m; B3 Z v2 QWell positioned with gold production forecast to double this year and next
* V6 ~, D# Q7 r. m* tBlackmont Capital continues "buy", 12-month target price is lowered to $83.00
. X% V- M/ n! cTD 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 : $17.15)- ]: k! H% ]( q4 V% P& q6 l
Reduced distributions by 20%; capex also cut3 X m2 a2 g) c$ X& h2 d
RBC Capital Markets continues "outperform", 12-month target price is $19.009 k) I. O8 H0 d! F; g
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Andean Resources (AND : TSX : $0.75)# ~' f8 g. s9 }$ ?
Announced F09 outlook
: R- j. }. A* z0 C; G; rParadigm Capital continues "speculative buy", 12-month target price is $2.25
* c' W4 N/ z+ H+ w1 [TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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6 d' u7 x1 F# O5 Y- fBombardier Inc. (BBD.B : TSX : $4.65) r/ L o" n( _, w# A7 c
Rising challenges in Aerospace O; A, [8 _# r4 O8 e2 h
GMP Securities continues "buy", 12-month target price is $8.00; z- W. T8 V9 i% y
% r/ \9 K* @' A+ ^7 @. k6 v- sBank of Montreal (BMO : TSX : $31.84)
: S3 J, |: @( V, r4 UAcquiring AIG's Canadian life insurance business4 m0 K* o* M B; e y* k* e
TD Newcrest continues "hold", 12-month target price is $37.005 [! `! d: \; C
% E# B" n* X* E! C& q# ZCogeco Cable (CCA : TSX : $33.37)
/ Z( _9 e% b4 N) IQ1 review: Canada results encouraging, but Portugal remains a drag
. Q. m& t7 ~0 A; [% UBMO Capital Markets maintains "outperform", 12-month target price is $46.00- \) U& X8 [9 G3 [. y
Desjardins Securities continues "top pick", 12-month target price is $40.009 v7 z6 `' m( ]+ X0 V+ V' [
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.002 K6 E. o: d+ g, h* {: [( |9 G
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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Corridor Resources (CDH : TSX : $2.45)
3 G6 A; A6 R5 Y) e- N8 sCapital budget set to expected cash flow; production guidance lowered
( W; v. E* ?4 n- |; fRBC Capital Markets maintains "outperform", 12-month target price is $4.25: \- b) r) D; U q; @
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COGECO Inc. (CGO : TSX : $25.14)
6 Y; Q6 E5 k& M5 q, M: d H i: ~Strong radio and cable drives 39% EPS growth- _0 s9 _: _4 h" A" f& c
Scotia Capital Markets continues "sector perform", 12-month target price is $45.003 O" F" [6 n. a: d1 y0 F9 A
& r% P# G( F1 f# w+ O m7 j9 q' Y! aCanWest Global Communications (CGS : TSX : $0.51)0 Z7 l4 n2 {; ~. @) Z8 n5 i' g* _( D
Taking action to address tough operating environment* O. ` n4 I1 Y' P7 B
BMO Capital Markets maintains "underperform", no target price reported
2 \! j7 i# X- d a, QCredit Suisse maintains "neutral", 12-month target price is $1.00
/ k: P0 z7 d" Z c7 W5 `GMP Securities continues "reduce", 12-month target price is $0.506 S8 X$ Z) R! [9 v& M' m1 F; f
RBC Capital Markets continues "underperform", 12-month target price is $0.757 I% [2 a0 q7 ?) x/ f
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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! B0 e+ z3 M: q0 R8 ECorus Entertainment (CJR.B : TSX : $12.47)' ~4 M/ I; [) Z: K3 b3 \, ~! f
Q1 revenues in line, EPS beat
9 J) j1 |- @ S3 ^BMO Capital Markets continues "market perform", 12-month target price is cut to $15.00
. T0 i/ M/ ]8 A( t# e H$ A2 _Credit Suisse continues "outperform", 12-month target price is $20.00
. J, A5 z; r: J$ x8 \" Q2 dDesjardins Securities maintains "buy", 12-month target price is lowered to $15.00 k, `/ w! F' D7 P. v% s/ ], ^
GMP Securities maintains "buy", 12-month target price is reduced to $17.00
) ?5 B" x* \. B# F3 L. y" m3 |* }7 VRBC Capital Markets maintains "outperform", 12-month target price is raised to $18.507 ~( s5 I1 a. `+ l
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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Calloway REIT (CWT.UN : TSX : $11.84)& B/ p" |$ Z9 N) s
Held investor day5 g# M7 E* c J8 B" m
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00
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! g7 x6 o& z K+ E) C) vDaylight Resources Trust (DAY.UN : TSX : $7.77)! e: D9 b/ W3 l! h3 q% i, Y
Reduced distributions by 38%; guided for lower capex* d1 n5 K" s. l3 j1 C& L
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.009 R5 [( o8 W+ w( I z
Dundee Capital Markets continues "buy", 12-month target price is $12.00
7 v3 d0 @5 B* r0 L" XTD 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)( z* Z, Y! C0 Y8 I7 [9 m% H2 Z
Steady market and currency tailwind
, o* W" X+ X4 I# n- wTD Newcrest maintains "buy", 12-month target price is US$5.00
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Goldcorp Inc. (G : TSX : $29.74)
7 _" W2 {$ {1 |' E- E7 q! CRevised commodity forecasts: \5 ]: z* D" O! H: N9 a
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00: R& K9 a# Z$ ~% I, e+ p
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Heritage Oil (HOC : TSX : $3.77)4 b, d: _8 t+ W$ g( U' x, _# r; I' q6 [
Announced Ugandan commerciality on exploration success. B: j, o2 b* s. E
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.506 q/ S: e7 j% g4 ]! x* b6 [
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Harry Winston Diamond (HW : TSX : $4.98)
9 E# T7 O' S) D' T# n5 O- ^Retail division suffers
' l1 u1 c2 h+ [0 WDesjardins Securities maintains "buy", 12-month target price is $12.60
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Laramide Resources (LAM : TSX : $1.84)4 V. N0 |- E4 m! Z) j( P, k( Y p3 d
Westmoreland provided more high grade at Redtree's Jack Lens
/ r7 Z Y, Z' R7 a5 b. @Dundee Capital Markets continues "buy", 12-month target price is $2.30: \, L$ K6 B) h) T( h- H6 W" h) v
+ H) q( R& X1 I& X4 LLockerbie & Hole (LH : TSX : $6.00)
T; p8 ~" e% L9 g. B0 B" CReleased Q3/09 results: very strong, focus should be on active backlog7 j! H* Z* Q1 k8 p) B
GMP Securities continues "buy", 12-month target price is $9.00) ]8 m" T. C% R, q
Raymond James maintains "market perform", 6-12 month target price is $8.25
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Livingston Intl Income Fund (LIV.UN : TSX : $6.00)
; p- D- o+ D: e+ }- ~3 p, Y0 hReduced distributions by 70%
7 d2 R+ b7 v! A0 H1 \ u; tRBC Capital Markets maintains "outperform", no target price reported
% Q% O$ B& | Z/ y! IScotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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Matrikon Inc. (MTK : TSX : $2.04)
& }3 g4 e6 H& b6 q$ ?& TReleased Q1/09 results: a little light, but still respectable q6 v0 L0 G b. V9 @2 \
BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50
/ r; G" Q3 T/ e+ k$ \Paradigm Capital maintains "buy", 12-month target price is $4.003 Z# ~5 ~, A6 U# T; m" o( l. n
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)
# R7 @2 p7 V) \6 E, j3 S+ rExpecting lower CFPU on higher taxes' e T3 s- p# B
BMO Capital Markets continues "outperform", 12-month target price is $18.00' z) m' H) Y$ D! s \
RBC Capital Markets continues "sector perform", 12-month target price is $12.008 u0 F P/ E; r
TD Newcrest continues "buy", 12-month target price is $17.00
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( V2 ?& V/ u# \* T( L- X: L% |Northgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)
o$ [ {; a$ x# X8 ?( L' d& b$ y- VReleased Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain2 \+ ~( L; Y! }3 ]5 D8 q/ p
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25+ d+ W# Y& z) K* ]% ?0 f
Credit Suisse maintains "neutral", 12-month target price is US$1.002 r1 v* r! P" {( [$ f Q( o
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80( \6 S$ S3 ]% e2 T8 f0 s" y
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Neptune Tech & Bioresources (NTB : TSX-V : $0.79)+ d3 D; W; Y' h) x6 d8 w
Dietary supplement business facing headwinds
. H+ Z: i# _/ o0 O/ ]Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00
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7 M/ o8 K9 r; P) ?Open Range Energy (ONR : TSX : $1.18)
$ p6 ` O; A1 v4 u5 T# QProvided operational update and F09 guidance y+ c+ {% ^/ ?; m
Haywood Securities continues "sector outperform", 12-month target price is $3.25
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Osisko Mining (OSK : TSX : $3.13)
$ d" u5 \2 @# b% K2 E8 a& R* rSouth Barnat resource around the corner, a$ z8 z- N$ R
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)
) p4 U( n" H3 b2 `, h1 VProvided operational update2 K& B* B1 i4 a( D- [8 M* X
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.00" A/ \6 K$ I2 }2 l, p
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
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3 z8 q1 X* ?& v5 Q! \# G0 h0 EParamount Resources (POU : TSX : $7.85)
- C) S1 y* M2 cProvided operational update: Grande Prairie emerging as the key focus for F09
$ [; {4 q, j: o6 bGMP Securities maintains "buy", 12-month target price is $12.00
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Rockwell Diamonds (RDI : TSX : $0.07)
# {# g4 I/ U" V" ?7 C6 ~# ^- cOperations starting to turn the corner/ T2 H9 M. C7 K& ^. V; j/ N
RBC Capital Markets maintains "outperform", no target price reported
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Shaw Communications (SJR.B : TSX : $20.13)
3 }1 r1 l/ E" G9 i) LReleased Q1/09 results: in line, subscribers ahead
5 l5 A: _! q; g8 Z/ k' ICredit Suisse maintains "neutral", 12-month target price is $25.50! \: k" k# ^. H% m. x, e9 I
GMP Securities continues "buy", 12-month target price is $26.50$ r( z5 _- _' \2 P% t o% k- R
$ T" n; g, {$ Y* lSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)' N/ @. D( C# G6 _, w/ e1 G
Held a sell-side lunch showcasing new U.S. team$ }. V% w+ o y$ E1 @, c- V$ Q9 ~
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.00( d0 R2 c; A. ^
; T) s3 M# Z% h, [Trican Well Service (TCW : TSX : $6.93)
: M1 W3 Y$ E2 C: {Awarded Russian contracts: I) u+ e* v" W& U3 u) J4 A
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75# |2 }" Z9 N8 A# u4 I
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00
$ L) Z! m# b9 k A% o0 R; gRBC Capital Markets maintains "sector perform", 12-month target price is $10.002 s' C" O0 g5 z9 U( `* E! B
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Sino-Forest Corp. (TRE : TSX : $8.93)+ @* s; d. w0 Q' P& E- @
Chinese furniture exports rose in November
: h8 a7 R$ G* _# IDundee Capital Markets maintains "buy", 12-month target price is $23.50
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UEX Corp. (UEX : TSX : $0.88)8 }) \3 _: u2 v
Shea Creek's two largest deposits have become one0 S4 p/ A' y# z A. r O7 n. u
Dundee Capital Markets maintains "buy", 12-month target price is $2.75: n5 i( V( \8 }# z4 T
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Vero Energy (VRO : TSX : $4.72)0 R% @" c5 l/ P9 [
Released Q4/08 results: horizontal focus to continue in F09
: T4 N1 g, Z1 Q3 [Dundee Capital Markets continues "buy", 12-month target price is $8.00
3 v5 [" {" K L) p% pGMP Securities continues "buy", 12-month target price is $7.502 R$ R' @6 G# q# z1 F3 G
Paradigm Capital continues "buy", 12-month target price is $12.00
, l4 ^& K( I+ y! i* gRBC Capital Markets maintains "outperform", 12-month target price is $8.50, |* \9 J* l/ x7 {
8 s' C3 d) i d1 o. V3 \! sWi-Lan Inc (WIN : TSX : $1.75): Z/ S5 U6 z( X% z
Hit homerun with Samsung
& }% h) k* y0 M9 E5 GParadigm Capital continues "buy", 12-month target price is $3.50 |
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