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Ear on the Street --- Jan. 16 2009) `+ X$ F: m7 j0 n; V X
7 z( e( ]0 q. R3 n4 EAbsolute Software (ABT : TSX : $3.36)/ o0 A# |0 f: H( b& \9 w
Bracing for a tough few quarters
( P5 G( z! @2 y+ g" lCanaccord Capital maintains "hold", 12-month target price is $4.50$ z/ f, |1 {5 g5 I! }4 l/ e
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Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)
1 G# U0 ?1 O8 R- F5 d' F3 LGrowth outlook, challenging pipeline and high cost structure make future unclear1 M# V+ k: k6 p3 D
Blackmont Capital continues "hold", 12-month target price is lowered to $48.00
$ J" I" S0 c+ l; ^% s1 \ f' ^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)
4 r! B5 C3 E* {Released Q1/09 results: strong, in light of challenging operating environment
$ G b8 V+ J' Z# b6 [% @* P) \BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00, r3 h: V- O5 t2 Y
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00
: w" L. ?% H0 B \6 CGMP Securities maintains "buy", 12-month target price is reduced to $30.00
+ ~) w) v, L4 XRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00. y% K0 y2 j; j1 N/ Y: J+ ` M" e
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)+ Z' O3 |# F4 ? q; V
Well positioned with gold production forecast to double this year and next
2 W% Y4 ]- l" p9 h2 {& XBlackmont Capital continues "buy", 12-month target price is lowered to $83.00, B* g( z d3 i
TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.009 Q! T- Z P1 `3 W% u4 D
2 b; K( g0 z5 nARC Energy Trust (AET.UN : TSX : $17.15)7 ^- ^2 K1 n) t1 H3 R5 u$ V, R) T
Reduced distributions by 20%; capex also cut c, R8 x& m: J* J
RBC Capital Markets continues "outperform", 12-month target price is $19.00
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Andean Resources (AND : TSX : $0.75)$ x# N A2 n6 C) G* ^6 K; I% Z. U) j
Announced F09 outlook
6 M1 y* A/ s- A# W. H+ fParadigm Capital continues "speculative buy", 12-month target price is $2.25# k6 s' m( @% ]
TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00" N- Z( d0 @+ A, ]# U
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Bombardier Inc. (BBD.B : TSX : $4.65)6 G R: S/ l0 U* L% w6 R: x
Rising challenges in Aerospace
: j" g8 a1 p7 G$ XGMP Securities continues "buy", 12-month target price is $8.00
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Bank of Montreal (BMO : TSX : $31.84)2 Y1 f2 d7 M$ i4 {3 a9 }
Acquiring AIG's Canadian life insurance business7 P' s& p9 Q" x; \6 m
TD Newcrest continues "hold", 12-month target price is $37.00
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# @; P& t8 V+ `$ `3 mCogeco Cable (CCA : TSX : $33.37)) E$ L5 ]. O2 K( t8 ^* z& a; G
Q1 review: Canada results encouraging, but Portugal remains a drag
$ n) [; t# V0 G5 qBMO Capital Markets maintains "outperform", 12-month target price is $46.00
8 [; ]& I5 v( w# J- RDesjardins Securities continues "top pick", 12-month target price is $40.00
& H5 L" t" n4 O* h4 K: cRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00
( h+ Z# \, K& S8 P% {& hScotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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Corridor Resources (CDH : TSX : $2.45)) q, a! ]. y! b
Capital budget set to expected cash flow; production guidance lowered8 c% {" }/ ?5 u6 x; J1 i* m# K
RBC Capital Markets maintains "outperform", 12-month target price is $4.25! q* c, w/ D% p9 T9 l6 c# M
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COGECO Inc. (CGO : TSX : $25.14)6 R9 m: j" X" z! I
Strong radio and cable drives 39% EPS growth
" G& p$ w& z9 a$ V. b* `Scotia Capital Markets continues "sector perform", 12-month target price is $45.001 E- l% n& K# G+ ?
: Q2 C& M. W, l, l. ZCanWest Global Communications (CGS : TSX : $0.51); l$ j2 X: O6 S" g Z
Taking action to address tough operating environment
+ m/ j% M5 Z' j% A( p7 U% OBMO Capital Markets maintains "underperform", no target price reported
, p7 H0 ^1 [$ V9 g: K# ~Credit Suisse maintains "neutral", 12-month target price is $1.00
5 j. @7 k! |: ]8 l TGMP Securities continues "reduce", 12-month target price is $0.50
" W' L4 [' i0 I! B* L N: NRBC Capital Markets continues "underperform", 12-month target price is $0.75
7 l# ?( \" |. h5 V7 u8 [: S7 [' m9 PScotia Capital Markets continues "sector underperform", 12-month target price is $0.505 g% [& H& I* V; i+ f
2 C# M8 n. J e- Y" K( _4 `Corus Entertainment (CJR.B : TSX : $12.47) t7 ~3 C) Y% i' `
Q1 revenues in line, EPS beat
4 [! q8 t$ y/ v! iBMO Capital Markets continues "market perform", 12-month target price is cut to $15.00% _% p0 M8 F* e4 ]
Credit Suisse continues "outperform", 12-month target price is $20.000 Z$ l# B+ H; }$ v6 R, W
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00
6 I. O" L5 f. x& h; \GMP Securities maintains "buy", 12-month target price is reduced to $17.00
: C# N- k' ^% M8 ~RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50
`: t1 T. o; U' B2 y, l) B# DScotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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! W" k$ s) R Q% E! `3 ~Calloway REIT (CWT.UN : TSX : $11.84)1 a4 b5 o7 Y" @2 I' X5 @
Held investor day1 |' s5 d4 _6 L- O# `$ Q4 u( S3 z
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00
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& R4 [* R6 A% O9 ]) nDaylight Resources Trust (DAY.UN : TSX : $7.77)5 z; V) Z$ n1 l' P# A8 T6 E1 [
Reduced distributions by 38%; guided for lower capex
0 C- g1 N e) d9 X9 ~BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.006 v1 V$ e9 h" L6 o9 S+ i1 K7 M7 C
Dundee Capital Markets continues "buy", 12-month target price is $12.00
/ U, W5 @8 _0 t: jTD Newcrest continues "hold", 12-month target price is $7.50, v7 [1 ~) w/ t$ L9 `. ^7 Y
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EXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)
' {) I, I% x1 lSteady market and currency tailwind s4 f& |6 W5 P' n" [
TD Newcrest maintains "buy", 12-month target price is US$5.00; D1 p1 r, b4 u. s# z: t& F1 P! h
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Goldcorp Inc. (G : TSX : $29.74)
# l* c9 z) E M# C: f4 R- W0 [Revised commodity forecasts0 i c: v* D6 v, }$ r$ T2 r) V/ j9 \/ z
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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! V. d( { a/ g0 g4 B4 I: K! T; A3 uHeritage Oil (HOC : TSX : $3.77) A7 y8 i2 ~0 `" L
Announced Ugandan commerciality on exploration success
: I# B0 m% R. l i8 b/ b- M% \7 mTD Newcrest maintains "speculative buy", 12-month target price is raised to $5.509 B7 p& F' O2 G: ^+ A k' |
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Harry Winston Diamond (HW : TSX : $4.98)5 w; A( O2 T5 j5 O
Retail division suffers6 c) b$ v& r) {
Desjardins Securities maintains "buy", 12-month target price is $12.60
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1 P. x. Y, h; RLaramide Resources (LAM : TSX : $1.84)2 o- K& t% T) ]# R
Westmoreland provided more high grade at Redtree's Jack Lens' E4 o1 V+ g: W/ s8 P7 e
Dundee Capital Markets continues "buy", 12-month target price is $2.30, b8 i8 A, o4 {' j/ v1 }+ b' s! ]5 r
$ @8 N% q; Q- N* |$ C" H3 _# n' x5 z( H" ~2 PLockerbie & Hole (LH : TSX : $6.00)
7 Y$ Y: h, s3 s, ?; }" q7 c3 E: ~+ lReleased Q3/09 results: very strong, focus should be on active backlog
" i- L3 G) {/ |6 G/ n3 a( H# W0 ^GMP Securities continues "buy", 12-month target price is $9.00/ ]7 P" t+ m# `
Raymond James maintains "market perform", 6-12 month target price is $8.25
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" ^; t W' @, RLivingston Intl Income Fund (LIV.UN : TSX : $6.00)2 M R) R7 C* Z$ U) b, r5 d
Reduced distributions by 70%% f* y5 U# T5 [5 a
RBC Capital Markets maintains "outperform", no target price reported
# o+ z1 o, _: oScotia Capital Markets continues "sector underperform", 12-month target price is $6.50. Q5 f/ Q+ z7 Q G' u" }# V) U' s
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Matrikon Inc. (MTK : TSX : $2.04)- ]3 z9 S, n; Z/ s2 L0 s8 w7 A) S5 y
Released Q1/09 results: a little light, but still respectable
2 a$ K4 K$ F1 X3 ~BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50
6 s3 _+ Z3 L2 O6 UParadigm Capital maintains "buy", 12-month target price is $4.00
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1 {* ^, u4 Y+ I% n+ V( b% z8 oMullen Group Income Fund (MTL.UN : TSX : $10.97)
5 L+ @1 {3 X6 K" Q8 ]3 WExpecting lower CFPU on higher taxes
' z/ L# E9 \, yBMO Capital Markets continues "outperform", 12-month target price is $18.00& s2 W0 X6 R; P% U. p
RBC Capital Markets continues "sector perform", 12-month target price is $12.00
! I, h- }! h& g" q3 `, zTD Newcrest continues "buy", 12-month target price is $17.00; e* m: Y3 f' c1 U
. @" \" n( ]- E+ t2 r, x! fNorthgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)! T$ j. W# P; S% I7 [! ~: L7 N
Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain
8 n: Z2 _# k; VBlackmont Capital continues "hold", 12-month target price is reduced to $1.25
! I0 p& k4 t( ~3 Y# d GCredit Suisse maintains "neutral", 12-month target price is US$1.00
. A3 `3 E( g$ r7 W5 h3 sScotia Capital Markets continues "sector underperform", 12-month target price is US$0.80
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$ E8 r6 v- R: A( x6 X: Q [* y# dNeptune Tech & Bioresources (NTB : TSX-V : $0.79)$ w" B2 u) T' D7 B; e+ Y
Dietary supplement business facing headwinds3 X6 m( P x9 ?. ^, Q+ v$ H
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.007 ?6 M) U; j# i' o& P
, K, S7 g8 w O V, _Open Range Energy (ONR : TSX : $1.18)4 G- ^ r: H. _
Provided operational update and F09 guidance2 L, s# s9 o4 I8 p* U9 U" I u" m
Haywood Securities continues "sector outperform", 12-month target price is $3.25! ^" h7 L6 |6 D8 y _; t" c r
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Osisko Mining (OSK : TSX : $3.13). C, V3 M2 c4 q4 q! L/ Z
South Barnat resource around the corner7 y9 F6 c, D' Q1 t8 V
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)
s5 a. {3 G( P D) c' n( ~; k1 AProvided operational update
0 n+ P1 Y- ?( `; X0 cBlackmont Capital maintains "hold", 12-month target price is lowered to $19.00) s# D/ b: { J y' I3 E9 X
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
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1 W6 Z4 A+ h+ |9 _6 H& |Paramount Resources (POU : TSX : $7.85)
, r4 v. G* U3 }2 SProvided operational update: Grande Prairie emerging as the key focus for F09* R% f6 [6 C( p7 `7 @# N6 Y
GMP Securities maintains "buy", 12-month target price is $12.006 S+ D x& a# W( l- M* h
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Rockwell Diamonds (RDI : TSX : $0.07)
, ]$ V9 v$ P$ n/ x" K( L6 T: ZOperations starting to turn the corner" B, Z; w' m7 W8 t" q. @6 ^! O& {+ G
RBC Capital Markets maintains "outperform", no target price reported
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+ O/ R; `& { nShaw Communications (SJR.B : TSX : $20.13)
$ e) {, L( F" T" o1 ]4 Z* ZReleased Q1/09 results: in line, subscribers ahead
6 p$ k" i: e7 ~3 u! x( y/ D7 U" sCredit Suisse maintains "neutral", 12-month target price is $25.50( G4 j' D# v5 W0 j0 S
GMP Securities continues "buy", 12-month target price is $26.500 b. Y& a t3 N+ v7 Y
+ w! {9 s1 r* h& t" nSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)
0 C8 V( H5 P+ fHeld a sell-side lunch showcasing new U.S. team: S0 H' S% b/ l6 { V
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.00
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Trican Well Service (TCW : TSX : $6.93)- i& N& {1 a4 }. x- K7 ]
Awarded Russian contracts& G+ t/ h( o7 B& H J3 T9 c& t. d9 k
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75' I6 j9 C- ~4 U4 Z- j) U
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00
' g) W7 u6 {+ t6 wRBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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2 z1 y; W5 I6 k9 W) w" H tSino-Forest Corp. (TRE : TSX : $8.93)
6 x5 m. v4 z% }* S9 r3 QChinese furniture exports rose in November
5 O" H/ v5 h; L. UDundee Capital Markets maintains "buy", 12-month target price is $23.50
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UEX Corp. (UEX : TSX : $0.88)
/ o5 W) m$ C# R! F# z0 g& O, vShea Creek's two largest deposits have become one
$ i% r' o- G, W) Q- EDundee Capital Markets maintains "buy", 12-month target price is $2.75
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}0 m t* v1 r( }+ d. C" EVero Energy (VRO : TSX : $4.72)5 D ~% P; o. o+ W* S0 L
Released Q4/08 results: horizontal focus to continue in F09 N0 K0 p+ h% v; C/ c! O. L* Y6 `1 m
Dundee Capital Markets continues "buy", 12-month target price is $8.00
0 x& c' F/ D/ \! XGMP Securities continues "buy", 12-month target price is $7.504 ?7 e+ V+ P9 G$ [2 z# C
Paradigm Capital continues "buy", 12-month target price is $12.00
7 W6 s1 N- B* `2 PRBC Capital Markets maintains "outperform", 12-month target price is $8.50. x6 `" h$ V* a% Q; N$ e8 s( ?7 t
7 x2 g/ k" [/ F' T/ C# e5 o$ N' G9 z' FWi-Lan Inc (WIN : TSX : $1.75)' A6 [1 p# W! A7 h# N r# b
Hit homerun with Samsung
+ h1 G1 f9 _0 h b/ J" g4 eParadigm Capital continues "buy", 12-month target price is $3.50 |
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