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Ear on the Street --- Jan. 16 2009) t# O/ s& _) v0 I8 O1 B
% a- |2 [! j i S9 L2 C- uAbsolute Software (ABT : TSX : $3.36)
! y' `3 `- W* {; dBracing for a tough few quarters4 O. |0 O8 K: S5 m2 ~/ Q+ v0 a$ a7 G
Canaccord Capital maintains "hold", 12-month target price is $4.50
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+ O" I3 f% N, o; l- MBarrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)
# H/ {8 V2 c- q t- kGrowth outlook, challenging pipeline and high cost structure make future unclear; ^; W7 c8 u/ t5 y0 L3 b, Q& w
Blackmont Capital continues "hold", 12-month target price is lowered to $48.00
: B" _8 n- W1 n) V3 H8 {; |TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00" _. y6 z4 B9 Q; f0 O+ q1 f! A
! C9 X E& U' m2 b$ A' i# aAstral Media (ACM.A : TSX : $22.98)
9 j; o1 M4 y6 k2 ~8 F( DReleased Q1/09 results: strong, in light of challenging operating environment7 x4 q+ {4 j, K
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00
+ d0 b3 F. h6 {: J- gDesjardins Securities maintains "buy", 12-month target price is slashed to $28.00( c. G! z5 E6 v. F1 V' K! e% y( `
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
7 H" W+ ]8 I9 i$ h0 S4 ~! jRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00# n N. g1 }3 \
Scotia Capital Markets continues "sector outperform", 12-month target price is $30.00) k( k! V6 e2 v$ p" P$ b( R
( O8 c7 t) q" e4 X& ?7 \Agnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07) R4 C# `# J. y) Y7 z5 c
Well positioned with gold production forecast to double this year and next
5 k$ w4 `6 \2 y& \# a8 b$ |: TBlackmont Capital continues "buy", 12-month target price is lowered to $83.00' S+ O: I1 l! @5 }$ x
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)5 h0 P% q' j( B
Reduced distributions by 20%; capex also cut
g; j# S5 o/ |% K+ xRBC Capital Markets continues "outperform", 12-month target price is $19.00/ G! n" b% F: T* d& v: ?' G3 C
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Andean Resources (AND : TSX : $0.75)
7 V& f* Y, L9 ]( u2 DAnnounced F09 outlook
4 E% x6 o u3 Y) @4 |- e/ fParadigm Capital continues "speculative buy", 12-month target price is $2.25
: _; L5 G5 {& W# V' xTD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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. Y2 H) D* D- ^7 }Bombardier Inc. (BBD.B : TSX : $4.65)" y/ O, G$ W9 v8 U$ s# t* A
Rising challenges in Aerospace
" p2 [' B# ?! aGMP Securities continues "buy", 12-month target price is $8.00
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# w3 b4 Z; w# u+ \3 bBank of Montreal (BMO : TSX : $31.84)* ^4 N# B4 ~8 A8 i& g; X( w
Acquiring AIG's Canadian life insurance business$ {+ }& o# M& |& S7 R% L
TD Newcrest continues "hold", 12-month target price is $37.004 H- W. c! \& o. j. U+ R. W
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Cogeco Cable (CCA : TSX : $33.37)$ F- q; v) E2 G4 d4 \6 Y
Q1 review: Canada results encouraging, but Portugal remains a drag7 O7 Z9 J/ M$ \3 v
BMO Capital Markets maintains "outperform", 12-month target price is $46.008 f" J( @1 ~' K& \# m9 ?4 q
Desjardins Securities continues "top pick", 12-month target price is $40.00
1 R: ~& K# |) J3 E( tRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00, P" m% I) [% O+ }9 E2 L# {+ D
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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1 {+ b5 I: s0 Y; o& S* N) sCorridor Resources (CDH : TSX : $2.45)
5 U9 X/ |$ o! xCapital budget set to expected cash flow; production guidance lowered& g2 B7 w9 ^& j4 U c5 P
RBC Capital Markets maintains "outperform", 12-month target price is $4.25
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7 K" h' x5 {# hCOGECO Inc. (CGO : TSX : $25.14)( S/ L2 F, a ^
Strong radio and cable drives 39% EPS growth" q/ q1 p7 [- s- X+ H
Scotia Capital Markets continues "sector perform", 12-month target price is $45.00
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- \* h# _" K9 s' D& g* C( WCanWest Global Communications (CGS : TSX : $0.51)
. D/ T, j7 C8 l& K3 a( m6 STaking action to address tough operating environment4 y. {4 q9 [3 a# X$ D. w* R
BMO Capital Markets maintains "underperform", no target price reported- A9 |% L1 Z( f5 Y! w1 y$ J+ @& P
Credit Suisse maintains "neutral", 12-month target price is $1.00 ^+ l8 Y' ?' ?: K; Z
GMP Securities continues "reduce", 12-month target price is $0.50
. Q0 x' Y. B3 g* w, ^, {RBC Capital Markets continues "underperform", 12-month target price is $0.75
. S. y1 b& H5 J! o4 X/ g# R: S- ~Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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Corus Entertainment (CJR.B : TSX : $12.47)- B l- q- ]* k3 X) |5 A
Q1 revenues in line, EPS beat" r3 B3 ]$ G! e% L
BMO Capital Markets continues "market perform", 12-month target price is cut to $15.001 n* W: R `, s
Credit Suisse continues "outperform", 12-month target price is $20.00
: |5 ^7 m- V' cDesjardins Securities maintains "buy", 12-month target price is lowered to $15.00
% z& y5 V6 z0 o8 F& c1 dGMP Securities maintains "buy", 12-month target price is reduced to $17.00: P1 K8 p% ~. h) ^* l1 g4 s8 j R
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.500 B8 o2 A6 h- T- E! \9 Z
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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Calloway REIT (CWT.UN : TSX : $11.84)
; p1 T. B/ E f6 W) EHeld investor day4 N7 f" F$ n k, i
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00 M% K+ [! p) B7 A' t6 e) L
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Daylight Resources Trust (DAY.UN : TSX : $7.77)& d- \( i* M. ^
Reduced distributions by 38%; guided for lower capex. b) ]: J" M" _" f! W7 ~
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00! Z" ?( J O* i) i2 X& ?: U8 c0 L+ e# B
Dundee Capital Markets continues "buy", 12-month target price is $12.00& I3 I' G2 a5 H3 K# u) M
TD Newcrest continues "hold", 12-month target price is $7.50
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# T$ D6 n: l; Y$ kEXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)" h5 X( Q$ T: `# U9 w3 J' S$ _
Steady market and currency tailwind+ C: G. N$ _: G' j2 @4 _; v m
TD Newcrest maintains "buy", 12-month target price is US$5.00* ~7 d' L; Q0 A) k
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Goldcorp Inc. (G : TSX : $29.74)
# n) h" Q4 c7 Y: x" zRevised commodity forecasts
$ [! n( V( I/ M" ]4 z$ b: I- QBlackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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Heritage Oil (HOC : TSX : $3.77)
, j9 W: J, W3 P, K: J- ?Announced Ugandan commerciality on exploration success2 J' X9 H5 Y! v. B6 l/ b- Y2 `
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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Harry Winston Diamond (HW : TSX : $4.98): e. k+ b1 { W ]
Retail division suffers. }# y, _4 ]& B8 z
Desjardins Securities maintains "buy", 12-month target price is $12.606 J7 L1 c8 l* o( Z* n$ t
Q+ m: X* O/ C( FLaramide Resources (LAM : TSX : $1.84)
, j$ R4 p- L0 O4 y tWestmoreland provided more high grade at Redtree's Jack Lens# b9 V3 I# C7 S Z
Dundee Capital Markets continues "buy", 12-month target price is $2.30
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Lockerbie & Hole (LH : TSX : $6.00)
' V4 E/ H1 C Y1 t4 p+ v$ h# JReleased Q3/09 results: very strong, focus should be on active backlog
4 c0 e8 L1 _& R+ I5 mGMP Securities continues "buy", 12-month target price is $9.00. s7 R8 t1 c* P7 _; E* R; K
Raymond James maintains "market perform", 6-12 month target price is $8.251 C$ j" l1 l, b4 ~, L2 x2 q
& X, o8 K6 |+ l2 _6 zLivingston Intl Income Fund (LIV.UN : TSX : $6.00)& k1 E6 y! t0 `- N
Reduced distributions by 70%2 ?; J) ]5 v7 Z
RBC Capital Markets maintains "outperform", no target price reported
- c. _ P" [7 C. v9 O0 R) ~2 |) dScotia Capital Markets continues "sector underperform", 12-month target price is $6.509 t) |9 r& v3 m& Q
( l* O9 ^5 [. A( z+ k) sMatrikon Inc. (MTK : TSX : $2.04)
& H0 p2 z( G# L$ J! \Released Q1/09 results: a little light, but still respectable6 O* g$ h$ U" C! U: i+ p/ n' _6 N
BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50/ j* p! {7 N; t: x. d0 x7 R
Paradigm Capital maintains "buy", 12-month target price is $4.00
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3 E0 E7 P3 i9 H' `Mullen Group Income Fund (MTL.UN : TSX : $10.97)5 b1 d* O' ]5 D, r+ K) j5 N0 |% V/ p
Expecting lower CFPU on higher taxes
1 n- U/ T8 y' SBMO Capital Markets continues "outperform", 12-month target price is $18.00
5 X- t, ?4 c! n3 K& A: {RBC Capital Markets continues "sector perform", 12-month target price is $12.006 w3 L% L# Y) d
TD Newcrest continues "buy", 12-month target price is $17.00
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6 F: R5 { o& wNorthgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)
! t/ J# M. F; D2 v* S6 A \Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain2 p4 d7 m( J( O* m2 o( M
Blackmont Capital continues "hold", 12-month target price is reduced to $1.250 @* @' [8 b& j x9 J- u
Credit Suisse maintains "neutral", 12-month target price is US$1.00
/ ^+ u' j7 k s5 @Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80
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Neptune Tech & Bioresources (NTB : TSX-V : $0.79): c/ x5 L& T, Q; |
Dietary supplement business facing headwinds; T( y2 N$ P6 R5 p2 K0 d
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00
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0 _* K4 Q/ L, OOpen Range Energy (ONR : TSX : $1.18)9 [! }% D9 a9 @+ K, U8 g
Provided operational update and F09 guidance8 {) X/ E$ z K; Z* U
Haywood Securities continues "sector outperform", 12-month target price is $3.254 x7 p: \/ M5 }- L/ B8 @0 U0 ]
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Osisko Mining (OSK : TSX : $3.13)' s( [+ p( R0 s" b, @
South Barnat resource around the corner
% D, F9 h7 E' xParadigm 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" v" s4 S7 B' i: KProvided operational update7 E C* D: j! H4 t
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.005 @$ V* V6 H* S! ^
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
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Paramount Resources (POU : TSX : $7.85)
3 x) m$ B0 \! n" g* ^( ]Provided operational update: Grande Prairie emerging as the key focus for F09
$ k7 x( x5 ^& D* }# ^4 C* q: EGMP Securities maintains "buy", 12-month target price is $12.00
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4 P0 l' P7 }' bRockwell Diamonds (RDI : TSX : $0.07)/ z9 ^: U* \9 N/ Q
Operations starting to turn the corner$ N: k- T' r$ d7 ~ }0 H" T a |
RBC Capital Markets maintains "outperform", no target price reported
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Shaw Communications (SJR.B : TSX : $20.13)' Q8 \; w( f! K+ @# t0 X* l. A
Released Q1/09 results: in line, subscribers ahead
% V& i* x: {: g5 Y+ i; w% h; yCredit Suisse maintains "neutral", 12-month target price is $25.50
% Y! f- i6 s! [GMP Securities continues "buy", 12-month target price is $26.50( k! E- p3 `1 t& K6 u: A* \% |/ S
l4 q& m8 q8 G% fSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)0 \9 M: t/ D/ A @3 I
Held a sell-side lunch showcasing new U.S. team, x, g7 `6 ^9 C4 O- u; Q" k
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* z4 b6 a/ u- Z7 fAwarded Russian contracts; H0 B/ i; m% T
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.750 A) L+ `) V1 {/ b. l" V
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00
, d" B1 U8 F3 E% Y- D ZRBC Capital Markets maintains "sector perform", 12-month target price is $10.003 O6 o; n5 u {4 u
; i7 _! V2 g1 B; [# O5 l- E) tSino-Forest Corp. (TRE : TSX : $8.93)8 u" n" J4 a8 K! C/ O7 M5 l5 K
Chinese furniture exports rose in November4 Z0 U* o* A- u
Dundee Capital Markets maintains "buy", 12-month target price is $23.50. ] G7 j: ?- F4 @/ ?9 ~9 f. M
8 _- l+ r# ^+ M8 qUEX Corp. (UEX : TSX : $0.88)
! w. O! u5 [, @ N7 L) n, CShea Creek's two largest deposits have become one' z5 ?% {0 G+ ?" }
Dundee Capital Markets maintains "buy", 12-month target price is $2.75# o* n( f2 Y$ Y4 A
/ r1 u2 C v5 }/ U& T, Q9 kVero Energy (VRO : TSX : $4.72)% ^5 n: {% T) ?. w; Y- Q& c
Released Q4/08 results: horizontal focus to continue in F09& Q5 ?7 A* B3 L: y1 s# {! W
Dundee Capital Markets continues "buy", 12-month target price is $8.00
) [# p% ^& y) e+ G% e1 iGMP Securities continues "buy", 12-month target price is $7.50
6 \- v0 u) P6 ]0 v5 I9 {, gParadigm Capital continues "buy", 12-month target price is $12.00
( e- Z b$ g) j$ }% gRBC Capital Markets maintains "outperform", 12-month target price is $8.50
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Wi-Lan Inc (WIN : TSX : $1.75)0 S8 i/ T/ z1 }6 s1 X" \8 J
Hit homerun with Samsung
0 P, ] \4 `; NParadigm Capital continues "buy", 12-month target price is $3.50 |
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