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Ear on the Street --- Jan. 16 20099 R6 S4 ?: I! h6 i
+ p5 S7 r5 k! ^* o8 x0 h, j1 ?Absolute Software (ABT : TSX : $3.36)# Y$ j1 s. |6 y8 {+ H" k" U
Bracing for a tough few quarters
9 U$ U; R0 @6 s+ {5 RCanaccord Capital maintains "hold", 12-month target price is $4.50& d4 n- N y0 z) M
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Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)
/ j' X7 {2 `0 o+ tGrowth outlook, challenging pipeline and high cost structure make future unclear' q# g) n3 x v% {. O; Q$ y5 e
Blackmont Capital continues "hold", 12-month target price is lowered to $48.00. ^" ]$ h1 x6 E
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00) E1 o: l; R8 s" E. M
/ y& ~' v3 B2 e* |Astral Media (ACM.A : TSX : $22.98)5 F8 {4 \' R) J0 @8 N' ?3 y1 A
Released Q1/09 results: strong, in light of challenging operating environment, e( d# \8 t! f$ [+ n3 p
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.001 z7 q6 }( q4 A v
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00
2 h) w* O$ r* J" W/ z' z$ [GMP Securities maintains "buy", 12-month target price is reduced to $30.00
2 P" ?) m$ l, N! K# P' v8 nRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00
) u( }7 u' f3 r0 e3 I; mScotia Capital Markets continues "sector outperform", 12-month target price is $30.003 e2 I4 _+ j) x( E& Z/ p* }+ s
% Z/ F7 V h% A) \' g8 }Agnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)1 H, v \8 u- y4 G
Well positioned with gold production forecast to double this year and next3 K% X/ p- ~& [/ V3 v
Blackmont Capital continues "buy", 12-month target price is lowered to $83.00- a7 E$ ]5 U( G' k3 f+ S6 a) M
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)
2 g, x3 B- |) {7 n* dReduced distributions by 20%; capex also cut [" Y4 S! R: g5 Q' Y+ j: Q
RBC Capital Markets continues "outperform", 12-month target price is $19.00
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' C& b9 I/ J VAndean Resources (AND : TSX : $0.75), K" {8 L. n1 p$ c" R
Announced F09 outlook. f1 {! L. k( s6 H
Paradigm Capital continues "speculative buy", 12-month target price is $2.25
2 L, F5 j% v* M2 A4 W5 X8 ITD Newcrest downgrades to "hold", 12-month target price is cut to $1.00& |) b! c2 b' I2 r
0 b6 a: ]1 z; E+ i$ j+ EBombardier Inc. (BBD.B : TSX : $4.65)) C0 o V0 I! I# _) d. Z
Rising challenges in Aerospace+ B Q W" w9 w" ?5 v/ A
GMP Securities continues "buy", 12-month target price is $8.00
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$ p' d2 p/ S+ aBank of Montreal (BMO : TSX : $31.84)% `! R2 _. y3 [, X
Acquiring AIG's Canadian life insurance business
d+ W% p0 T% ]- k; d& X5 V2 BTD Newcrest continues "hold", 12-month target price is $37.005 V$ I) q. _( }6 }
. {# q W' d6 P" \1 Q$ a/ tCogeco Cable (CCA : TSX : $33.37)
6 F' _. T( } L5 JQ1 review: Canada results encouraging, but Portugal remains a drag" ^2 w* E9 T9 ]
BMO Capital Markets maintains "outperform", 12-month target price is $46.00) `+ E4 H2 C7 C" m7 r: k2 Y- n8 c
Desjardins Securities continues "top pick", 12-month target price is $40.00* p* I8 ^5 I- h% C/ o% e
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00$ l& n9 q0 V+ |$ W
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00/ `* o+ R( i' j- q- j" g# ?
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Corridor Resources (CDH : TSX : $2.45). h4 }! o/ a3 P' o6 o
Capital budget set to expected cash flow; production guidance lowered# [ u* T6 ?5 R! j0 {5 v w. X2 p
RBC Capital Markets maintains "outperform", 12-month target price is $4.25
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( L. q. B8 K' b0 DCOGECO Inc. (CGO : TSX : $25.14)
R3 c4 y0 M$ ~ d1 O" e0 PStrong radio and cable drives 39% EPS growth
( R7 f. P5 T5 X: M. PScotia Capital Markets continues "sector perform", 12-month target price is $45.00
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CanWest Global Communications (CGS : TSX : $0.51)
6 C0 d F6 |; D9 Y3 x! ITaking action to address tough operating environment
8 `# I* a4 O7 vBMO Capital Markets maintains "underperform", no target price reported
7 E4 q) L: [8 q, b+ K) A7 Y$ G3 JCredit Suisse maintains "neutral", 12-month target price is $1.00
# j* K4 o9 y3 J) jGMP Securities continues "reduce", 12-month target price is $0.50
2 K/ J. J( Y" e( E6 FRBC Capital Markets continues "underperform", 12-month target price is $0.754 r6 `5 b7 y6 o$ T) K
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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( L& F4 p& E& kCorus Entertainment (CJR.B : TSX : $12.47) X" @4 `' P1 j0 k8 B/ T! E8 `: v
Q1 revenues in line, EPS beat6 Y( ~- w3 Q' q3 m2 w" C
BMO Capital Markets continues "market perform", 12-month target price is cut to $15.00- a/ @5 y3 n# O! X
Credit Suisse continues "outperform", 12-month target price is $20.00
+ s; M. x4 n4 _( E2 GDesjardins Securities maintains "buy", 12-month target price is lowered to $15.00
: y8 D! A# L4 ^GMP Securities maintains "buy", 12-month target price is reduced to $17.00! R+ J9 }" x# d' {/ G) O8 O) B- d
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50# x) H n- h: @- [
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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Calloway REIT (CWT.UN : TSX : $11.84)
0 ~0 K. `6 K/ A) a7 k: `' YHeld investor day3 L% o/ @) |1 K8 ~
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00+ R% i3 L4 S$ C' u4 D# U
5 x" U. M2 B# G3 v/ F2 fDaylight Resources Trust (DAY.UN : TSX : $7.77). d0 d+ p7 ~1 d3 y; b5 `
Reduced distributions by 38%; guided for lower capex) C! ^* g$ ^ C3 F T$ f
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00/ M: i3 ?5 _ d% @
Dundee Capital Markets continues "buy", 12-month target price is $12.00
, Z u+ W1 D# u+ D7 A; eTD Newcrest continues "hold", 12-month target price is $7.50* R: T: ?3 I8 g
}5 ~9 e% G! ?* U9 |/ TEXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)
0 S9 [* e# g* p V* O0 }# c! zSteady market and currency tailwind
+ m; n, z! V$ Y1 g4 k2 ^TD Newcrest maintains "buy", 12-month target price is US$5.00
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$ S# R3 M3 W" I$ Z: T$ Y' OGoldcorp Inc. (G : TSX : $29.74)9 M' E& y s$ x
Revised commodity forecasts% z4 D3 [' S9 z4 m6 ^3 K& V
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00, s0 ^ j" j+ e/ z( x
3 U! y. V5 p8 ~* Z6 zHeritage Oil (HOC : TSX : $3.77)
7 W; \( {( b- e# \8 K6 ZAnnounced Ugandan commerciality on exploration success9 `4 A- l% u/ i' f, y* d
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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Harry Winston Diamond (HW : TSX : $4.98)
/ n& L* \' b& R! {" m$ w! DRetail division suffers2 }% _& F! ?; U+ F. J
Desjardins Securities maintains "buy", 12-month target price is $12.600 F( s4 e0 f+ v8 _
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Laramide Resources (LAM : TSX : $1.84)1 S% H" [+ x( b, j5 J
Westmoreland provided more high grade at Redtree's Jack Lens
/ d: c, t' P" r* \( B4 X8 fDundee Capital Markets continues "buy", 12-month target price is $2.30
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. R: }" w4 M2 d! {1 bLockerbie & Hole (LH : TSX : $6.00)5 O; F0 A, I5 D1 F1 C- e
Released Q3/09 results: very strong, focus should be on active backlog
; y/ I3 k" J. M: c% K1 eGMP Securities continues "buy", 12-month target price is $9.00
) V0 E& s) t+ c$ ^+ O6 B2 G. S* t; eRaymond James maintains "market perform", 6-12 month target price is $8.25
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$ q* u, D7 n0 @0 z* P. V5 mLivingston Intl Income Fund (LIV.UN : TSX : $6.00)7 b! o! [$ W7 f& m5 T; x: {
Reduced distributions by 70%
+ P, X5 ]8 V, [" h- p3 bRBC Capital Markets maintains "outperform", no target price reported' M0 c3 U ~9 E2 o
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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Matrikon Inc. (MTK : TSX : $2.04)
* R: e+ f; _0 K) E! PReleased Q1/09 results: a little light, but still respectable5 p. [& \6 O0 E
BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.502 S* M/ M+ _( g- X7 d0 v$ u, d
Paradigm Capital maintains "buy", 12-month target price is $4.000 Z# l+ R# a5 T$ D* N1 A# K+ N5 s
( F# @9 S4 b7 |Mullen Group Income Fund (MTL.UN : TSX : $10.97)6 `8 M# u* z4 O' i
Expecting lower CFPU on higher taxes
. \9 H" O8 A0 a4 G( dBMO Capital Markets continues "outperform", 12-month target price is $18.00
0 ]7 @& D0 ^2 S; ^RBC Capital Markets continues "sector perform", 12-month target price is $12.00
2 R. ]1 c& z. K* }. w* d) e3 vTD 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)
7 W+ i0 ^9 P" X' V4 g0 jReleased Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain
: \+ G6 K7 e O1 RBlackmont Capital continues "hold", 12-month target price is reduced to $1.25
7 x- _; n/ Q8 O% Y6 W! [Credit Suisse maintains "neutral", 12-month target price is US$1.00! ]0 @9 b$ Q5 {6 l6 ?8 l0 h) _% L) ~
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.804 U- f, J* k+ Z) \, t5 ^8 @
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Neptune Tech & Bioresources (NTB : TSX-V : $0.79)
* P9 u v' ~# h% j; rDietary supplement business facing headwinds) p6 g' X+ e' r1 F2 d) D, T
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.007 n6 q8 I, l( y+ S* D
4 O' r7 i6 P$ p' p# g# HOpen Range Energy (ONR : TSX : $1.18)
8 I7 i& _- T# |, z9 A: yProvided operational update and F09 guidance
7 K7 b0 N$ d r, O( d6 WHaywood Securities continues "sector outperform", 12-month target price is $3.25
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Osisko Mining (OSK : TSX : $3.13)$ s% H7 h+ d$ I
South Barnat resource around the corner9 I t, q0 S7 C4 a! k. n) u1 b
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$13.75)
5 W6 c$ x& G7 b. C& |8 RProvided operational update" N1 @6 T- e5 M T, P/ c
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.00
4 I! j3 b- u1 R6 S9 [TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50 }! t( v7 b; S$ K
% H8 n" S5 P; U: k oParamount Resources (POU : TSX : $7.85)
' {0 P _! s E8 @Provided operational update: Grande Prairie emerging as the key focus for F09! r- e; A/ t" B' G% Z
GMP Securities maintains "buy", 12-month target price is $12.00) e8 e- |6 Y! r ~4 ?
6 @5 L. k9 |) h8 u4 _& yRockwell Diamonds (RDI : TSX : $0.07)2 j' e( C9 I, W3 |( H# c }
Operations starting to turn the corner# b8 W) V6 X4 K) N. p7 @- ^& U6 C
RBC Capital Markets maintains "outperform", no target price reported
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Shaw Communications (SJR.B : TSX : $20.13)" t; o- A8 |0 n) o9 O& @! U* l
Released Q1/09 results: in line, subscribers ahead
# I- [ O5 |4 Z+ g7 y/ `Credit Suisse maintains "neutral", 12-month target price is $25.50
- B! c7 }2 R- d1 V3 X' w, l, P0 QGMP Securities continues "buy", 12-month target price is $26.50, B& \/ c9 u8 R% C; M4 S
7 F( Y- g) \8 Y. q5 TSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)% ]2 P, n* q' n Q4 Z* F
Held a sell-side lunch showcasing new U.S. team/ D3 q3 H% ^2 E3 p5 Y# D6 q
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.00
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Trican Well Service (TCW : TSX : $6.93)1 G+ b' \! K4 o8 d2 q9 \
Awarded Russian contracts2 F: r" k( C! t$ r# b/ P
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75
/ Z& _/ n. z( {* c; G3 M0 o' gRaymond James maintains "market perform", 6-12 month target price is lowered to $9.00, D% K! F+ O) C1 s, ^' o; _
RBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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Sino-Forest Corp. (TRE : TSX : $8.93)- i4 p/ X; m/ e* s. ~3 M0 T1 G
Chinese furniture exports rose in November- P0 ~ c4 I9 Y% O7 n. x- `* L
Dundee Capital Markets maintains "buy", 12-month target price is $23.502 A7 O4 |; C7 ?% \6 c
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UEX Corp. (UEX : TSX : $0.88)
$ ^2 d( l# F0 A' x- Z1 iShea Creek's two largest deposits have become one
2 Y% ~+ d+ J/ \2 L" {3 |. r; ^Dundee Capital Markets maintains "buy", 12-month target price is $2.75! p) {1 F% x, ?- X& w; ]
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Vero Energy (VRO : TSX : $4.72)! z9 A5 V( f( z3 w* \( j
Released Q4/08 results: horizontal focus to continue in F09
! h% H q, f3 ?2 R6 RDundee Capital Markets continues "buy", 12-month target price is $8.00
8 s4 ]/ V; C" Y* g9 H. p) BGMP Securities continues "buy", 12-month target price is $7.50
4 ^1 Y* j6 A# } F: H( |Paradigm Capital continues "buy", 12-month target price is $12.00
9 O0 S# o# ^3 R4 T, i& D6 M9 a9 N- qRBC Capital Markets maintains "outperform", 12-month target price is $8.504 s6 G0 W; l5 H
{7 B1 F" L- WWi-Lan Inc (WIN : TSX : $1.75)
! Y6 R6 w O. y: K% CHit homerun with Samsung
$ I; \! t+ \. F) p0 F1 f* XParadigm Capital continues "buy", 12-month target price is $3.50 |
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