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Ear on the Street --- Jan. 16 20092 v' @( @% ~2 A" R+ S- [
6 [8 W) x6 p1 ~/ @: ? BAbsolute Software (ABT : TSX : $3.36)8 G5 S9 L7 l: i& [; p6 u
Bracing for a tough few quarters
! B* j2 ]( K, f" p4 @Canaccord Capital maintains "hold", 12-month target price is $4.50$ k' s, k) h$ d( j% } e
@( G1 L' [. |! z: N {4 B& e% Y3 {Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)' o) [! i- y. }2 J
Growth outlook, challenging pipeline and high cost structure make future unclear
* A6 |" _; d) s7 k6 jBlackmont Capital continues "hold", 12-month target price is lowered to $48.00
7 i- h0 r3 k8 o% RTD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00/ v3 j# f8 `; E
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Astral Media (ACM.A : TSX : $22.98); W; B$ U _5 Q2 ~' B
Released Q1/09 results: strong, in light of challenging operating environment
% D% k, x( Y" A) KBMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00, \' Q' Z$ U5 ]! E: z" M
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.007 O$ {; R& j5 P1 R, s0 R
GMP Securities maintains "buy", 12-month target price is reduced to $30.00+ C+ ^* ^: S5 {9 u0 J/ j& f6 H
RBC Capital Markets continues "outperform", 12-month target price is raised to $31.001 |( J$ Q% T! `! `: t
Scotia Capital Markets continues "sector outperform", 12-month target price is $30.00
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7 \) G/ \! L6 |4 {Agnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)
6 F+ v6 N6 |2 t& B% B6 KWell positioned with gold production forecast to double this year and next& ^6 Q/ H) [6 ?& a1 R
Blackmont Capital continues "buy", 12-month target price is lowered to $83.000 P7 t( u" d! ^5 z: e' S5 {7 \
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 : $17.15)
9 l9 }, R$ c1 ]; `Reduced distributions by 20%; capex also cut) ]5 }" ]; u6 p* E8 @
RBC Capital Markets continues "outperform", 12-month target price is $19.00 ~& L) R r/ d2 k# e. ^0 ~
# v2 q# q: `, `3 V: \& HAndean Resources (AND : TSX : $0.75)
' E* Z9 n' C, ~% ^* q& |Announced F09 outlook0 d7 G5 A( s/ M3 _$ Z. j% r
Paradigm Capital continues "speculative buy", 12-month target price is $2.25
0 v+ ?" `/ o OTD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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Bombardier Inc. (BBD.B : TSX : $4.65)
. ^ ^+ T& M4 b0 FRising challenges in Aerospace
1 y$ [/ D9 J) D6 d3 QGMP Securities continues "buy", 12-month target price is $8.00
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Bank of Montreal (BMO : TSX : $31.84)
) I% ^' P5 o9 B; z: f3 gAcquiring AIG's Canadian life insurance business
% p. u: m" t5 j* G" e$ u& U0 bTD Newcrest continues "hold", 12-month target price is $37.00, j7 e! S0 u& e
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Cogeco Cable (CCA : TSX : $33.37)2 F: L4 Z n/ B/ x- W8 Z0 J
Q1 review: Canada results encouraging, but Portugal remains a drag
( k* J, Q: F1 ~8 \0 A! F& ], i5 X" ABMO Capital Markets maintains "outperform", 12-month target price is $46.00, z1 m8 a& C" ~4 g$ }8 h2 A; f8 k9 z
Desjardins Securities continues "top pick", 12-month target price is $40.00
1 w$ X3 y. V# F: ]7 w+ [( |RBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00
, M8 ]' ]; n( cScotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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/ U) x2 H D; A% yCorridor Resources (CDH : TSX : $2.45)
9 K( V: K2 L1 x4 DCapital budget set to expected cash flow; production guidance lowered d6 J7 `! P3 z0 t
RBC Capital Markets maintains "outperform", 12-month target price is $4.253 a; H$ z f) w( |$ q5 D
: H0 V5 S A3 U$ U& u" B& w7 RCOGECO Inc. (CGO : TSX : $25.14)' h6 @0 U2 Y; k
Strong radio and cable drives 39% EPS growth
9 M0 P5 b1 X% @$ p3 m' _4 `$ ZScotia Capital Markets continues "sector perform", 12-month target price is $45.00: }; p6 P, ]) }* a3 R4 C
3 ?) e e$ ?$ r& l L+ {* ~; Y, qCanWest Global Communications (CGS : TSX : $0.51)9 Y* z5 X( Z" J! g7 V2 _ ]
Taking action to address tough operating environment
3 ~+ [# u* A& x( j9 J4 YBMO Capital Markets maintains "underperform", no target price reported
% B4 }& x! L/ u2 GCredit Suisse maintains "neutral", 12-month target price is $1.00
v, |# Q/ U" f1 YGMP Securities continues "reduce", 12-month target price is $0.505 O4 q6 t3 e1 r. P6 h
RBC Capital Markets continues "underperform", 12-month target price is $0.75 H: f# r8 I+ _& w' P+ C8 _: s
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.500 G6 ~' ^7 S1 ]. M& e* W9 O
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Corus Entertainment (CJR.B : TSX : $12.47)8 v* ?, v2 ]6 @3 E! F9 N, s
Q1 revenues in line, EPS beat* z8 e, F. K) Z% ]
BMO Capital Markets continues "market perform", 12-month target price is cut to $15.004 J- B! i9 H, N! x9 c8 V) b
Credit Suisse continues "outperform", 12-month target price is $20.002 F* j, n. D. M0 L
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00# E8 l& i" N. H7 R* j5 D ~: J
GMP Securities maintains "buy", 12-month target price is reduced to $17.004 C$ g5 x; i" Q4 \8 w3 {
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.500 I3 u! u$ d: I3 P+ X. O
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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Calloway REIT (CWT.UN : TSX : $11.84)4 u7 l0 h2 C2 A3 t$ R5 ^
Held investor day- \- l; S# i- I3 a5 }& K8 M7 ]3 l
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.007 W. w0 B1 F" E4 p5 C
5 _: `8 l B, P' E1 F0 G% Z8 SDaylight Resources Trust (DAY.UN : TSX : $7.77)
' x; Y s7 o! D6 z1 S) HReduced distributions by 38%; guided for lower capex
, _% z# A0 N! {6 ~, E& d5 X6 [BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00
, w5 k& I/ e! B: F/ K6 `* f, FDundee Capital Markets continues "buy", 12-month target price is $12.00
: {; Q8 ?) Z! B/ YTD Newcrest continues "hold", 12-month target price is $7.50% a6 } b' J9 s/ U
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EXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)
* ]' \5 B+ x* Z; B1 t4 @ {1 iSteady market and currency tailwind, p5 w& A0 G1 w# d: ?+ K" W
TD Newcrest maintains "buy", 12-month target price is US$5.00
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Goldcorp Inc. (G : TSX : $29.74)
8 j% p/ G, s8 O+ F" X) gRevised commodity forecasts9 K* x- d( E8 _4 Q, @! U- [4 f. x* U
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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Heritage Oil (HOC : TSX : $3.77)5 C5 d \2 t3 g$ f- S! o1 p# {) v4 u
Announced Ugandan commerciality on exploration success
4 K7 C) M; @; i w D4 NTD Newcrest maintains "speculative buy", 12-month target price is raised to $5.503 q, T- N2 W9 @) @, v
- f% G0 H7 k0 g9 a: O% Y3 c) }Harry Winston Diamond (HW : TSX : $4.98)
' ?5 W+ v0 p4 y( v0 t3 IRetail division suffers
: r& n: F2 J" x" L# L5 ZDesjardins Securities maintains "buy", 12-month target price is $12.60
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Laramide Resources (LAM : TSX : $1.84)9 o" {( [ x7 m- V& i
Westmoreland provided more high grade at Redtree's Jack Lens
) M+ f3 X; k; z% JDundee Capital Markets continues "buy", 12-month target price is $2.30
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; X8 h7 S0 O' n3 l* m/ vLockerbie & Hole (LH : TSX : $6.00)
& B) C! a Z* [9 B9 _ N( rReleased Q3/09 results: very strong, focus should be on active backlog
$ p J$ q, n' `3 _# WGMP Securities continues "buy", 12-month target price is $9.00! G9 G; A5 w D; [% r1 G0 D! `
Raymond James maintains "market perform", 6-12 month target price is $8.25
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$ M/ s+ Y/ x7 G$ {- TLivingston Intl Income Fund (LIV.UN : TSX : $6.00)
! ?: V4 A x, aReduced distributions by 70%
+ T( P' y4 w6 V( NRBC Capital Markets maintains "outperform", no target price reported0 V4 B3 A, E# [& \% S2 H2 r! Y
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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Matrikon Inc. (MTK : TSX : $2.04)
. H! [! o1 [* _8 xReleased Q1/09 results: a little light, but still respectable$ o1 f4 U+ [+ T% e5 \
BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50
% A# O3 }. f6 l. x! L3 `$ vParadigm Capital maintains "buy", 12-month target price is $4.00) r0 s/ @0 w. W0 A; l& W/ m+ z
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)
5 L+ I) s+ X# A/ t+ D( ^$ WExpecting lower CFPU on higher taxes( A3 u5 D8 Y3 H6 {5 G0 {8 I% v! c
BMO Capital Markets continues "outperform", 12-month target price is $18.00
7 G* ]" U: U; w& IRBC Capital Markets continues "sector perform", 12-month target price is $12.00
6 s0 Y7 ]( R% ]* g) `) k' QTD 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): M2 a& w! r: E8 B
Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain
& p+ E% z: Q7 A( _6 eBlackmont Capital continues "hold", 12-month target price is reduced to $1.25
E( |4 x6 w- i* yCredit Suisse maintains "neutral", 12-month target price is US$1.000 a/ {9 f: l- M2 M# D: [
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80) h; f% L3 g4 ~7 V% C+ f' r7 N
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Neptune Tech & Bioresources (NTB : TSX-V : $0.79)
3 M4 r3 l' ^. E; g' ~ TDietary supplement business facing headwinds6 W# e! v8 Y6 {8 P- c. ~& c
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00
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& L6 O$ @) k+ D/ G) o. pOpen Range Energy (ONR : TSX : $1.18)* x* X5 X# D" e9 @6 h( ?; O! B! f
Provided operational update and F09 guidance# W, J. ~+ k- }0 ]3 T( ^7 z
Haywood Securities continues "sector outperform", 12-month target price is $3.25
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+ F- X) O l" b+ D) [& ]# POsisko Mining (OSK : TSX : $3.13)6 q$ L* `& z* p3 {7 R. _# s' k2 v
South Barnat resource around the corner
) N9 E$ u9 U; p9 P) @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)" B* g& e' V( M1 Y+ ^- ^0 ]; b) I
Provided operational update
2 j3 P9 w# T7 F" c- PBlackmont Capital maintains "hold", 12-month target price is lowered to $19.00
0 Y$ [! g" h8 o. i; \9 G% zTD Newcrest downgrades to "hold", 12-month target price is raised to US$17.502 ` H/ s/ @1 z: m! L* p0 E. [: _
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Paramount Resources (POU : TSX : $7.85): ~$ r" _% D; _8 y4 N
Provided operational update: Grande Prairie emerging as the key focus for F098 T, s. I, E; E) q0 A0 Z" i, K0 s
GMP Securities maintains "buy", 12-month target price is $12.00( g" y5 s7 ~$ V
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Rockwell Diamonds (RDI : TSX : $0.07)
1 ?. j7 S/ S& Q: Y) x: L8 |Operations starting to turn the corner
( p3 W e" R- o& d7 @/ D7 k3 H+ URBC Capital Markets maintains "outperform", no target price reported: c% p. F. P( D& T3 t( ^ n+ M8 l
# K' b7 A- Q1 B c2 v8 G+ D0 r( YShaw Communications (SJR.B : TSX : $20.13)+ U- n) t+ I2 q2 L" ~% C
Released Q1/09 results: in line, subscribers ahead1 U% l$ b' ^& E& m
Credit Suisse maintains "neutral", 12-month target price is $25.50& d5 k7 q5 t% {/ U' ?- Q& Q$ O
GMP Securities continues "buy", 12-month target price is $26.50
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4 e( r5 l8 d6 k2 A. E" dSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48); I& q+ y+ W$ W( {, b" S9 _
Held a sell-side lunch showcasing new U.S. team. n( J0 [" j& e1 w; k7 X
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.000 l9 y7 z( v: P) g
2 c: i- R `3 A( JTrican Well Service (TCW : TSX : $6.93)8 R1 ]" H; I# h0 u5 i; @
Awarded Russian contracts4 m" H; V- B H( d+ l2 y& F
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75% C& \6 j0 R! ^6 V- p
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.009 ^* w' a! Q1 F& X
RBC Capital Markets maintains "sector perform", 12-month target price is $10.00' P- ]7 d& l5 @
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Sino-Forest Corp. (TRE : TSX : $8.93)
: I5 Z( ~. e8 @Chinese furniture exports rose in November1 y3 t# [+ d* Z- _) [3 w u
Dundee Capital Markets maintains "buy", 12-month target price is $23.50( r: N* @# ^% V0 x) W& G
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UEX Corp. (UEX : TSX : $0.88)0 ^1 N" v/ y# D3 S" z0 E9 B
Shea Creek's two largest deposits have become one
' k m' H/ W% l6 y+ J" K9 T& B @Dundee Capital Markets maintains "buy", 12-month target price is $2.759 i4 X w- u1 Q" ]- E9 U- q
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Vero Energy (VRO : TSX : $4.72)
2 I' w% E* z) U4 z; \2 oReleased Q4/08 results: horizontal focus to continue in F09
" D$ O9 u7 b% KDundee Capital Markets continues "buy", 12-month target price is $8.00
$ p% y' p1 P1 Y9 i. ?& X" gGMP Securities continues "buy", 12-month target price is $7.50. ^- g9 f3 V' S4 \% \3 N8 i, n
Paradigm Capital continues "buy", 12-month target price is $12.00
5 B. C% ^ g! b5 `; j. K" I) hRBC Capital Markets maintains "outperform", 12-month target price is $8.50" P j, w$ _- ~
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Wi-Lan Inc (WIN : TSX : $1.75)4 S0 l) o7 Q8 N, f. E) p& I1 U7 `
Hit homerun with Samsung3 @! {& t1 e8 O4 g2 r4 m7 m: U* c; I
Paradigm Capital continues "buy", 12-month target price is $3.50 |
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