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Ear on the Street --- Jan. 16 20094 r4 q* l9 Y+ V# x7 Z2 J R
4 U' q9 ?0 q$ G; Q' [+ TAbsolute Software (ABT : TSX : $3.36)
6 E/ ?2 F: `) L: DBracing for a tough few quarters
: k! o' x T4 w8 x# x: oCanaccord Capital maintains "hold", 12-month target price is $4.504 u& A1 V' S9 w+ @! g
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Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)3 U1 y: h1 J6 U
Growth outlook, challenging pipeline and high cost structure make future unclear
) k7 r5 ~6 ~$ T q' _# s$ X- y- r0 ZBlackmont Capital continues "hold", 12-month target price is lowered to $48.00% f+ I4 l7 ~% s k
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.000 X2 t! K+ f% @; _% `5 ~* D
! `$ Y9 Z1 H- IAstral Media (ACM.A : TSX : $22.98)' ^( ]: R J! T
Released Q1/09 results: strong, in light of challenging operating environment
) |. h2 C/ C$ `& Z# \BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00- K* Y( ^: Q8 W- s" H4 N$ G) o
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00; Y$ E1 N, D, U+ |
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
: Z4 N2 ^8 k$ l3 N% VRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00
( f' f: _( Y9 P8 {Scotia Capital Markets continues "sector outperform", 12-month target price is $30.00
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( K. N0 w1 [6 E+ xAgnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)% F# ]* l7 H# A# { [7 ^
Well positioned with gold production forecast to double this year and next* [/ [$ T) @. y
Blackmont Capital continues "buy", 12-month target price is lowered to $83.009 p7 b8 L& H' b1 e
TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00 M+ S& ~" R) B7 W2 D& z! g
; F) I6 X# B' C* [+ K$ I' S$ D7 v6 DARC Energy Trust (AET.UN : TSX : $17.15)
" U2 z+ h; s2 `, x* X, {+ qReduced distributions by 20%; capex also cut
, l& B8 K6 h7 T/ t4 \RBC Capital Markets continues "outperform", 12-month target price is $19.00
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Andean Resources (AND : TSX : $0.75)2 l9 J' x u+ r& _7 k' c( O
Announced F09 outlook# S' N, `4 L9 W& v2 t9 {
Paradigm Capital continues "speculative buy", 12-month target price is $2.25
: {2 b A4 p7 Y NTD Newcrest downgrades to "hold", 12-month target price is cut to $1.00! {+ Z( h! z; p% T: E2 E
) d* w" X9 _5 dBombardier Inc. (BBD.B : TSX : $4.65)
* a- M8 a# U$ X3 j" X. s7 A P7 zRising challenges in Aerospace
3 Y; y: K) j# K/ n' y; dGMP Securities continues "buy", 12-month target price is $8.00, d$ _& u% T8 v7 f$ i
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Bank of Montreal (BMO : TSX : $31.84)/ K. V0 q# f2 n7 K% j
Acquiring AIG's Canadian life insurance business4 p9 |5 K8 x5 b5 J- ~) ^8 a
TD Newcrest continues "hold", 12-month target price is $37.00
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Cogeco Cable (CCA : TSX : $33.37); d+ E% l/ i% m) V# `
Q1 review: Canada results encouraging, but Portugal remains a drag
, j7 i7 L8 T7 IBMO Capital Markets maintains "outperform", 12-month target price is $46.00; O$ A# H# Z& x. B. q
Desjardins Securities continues "top pick", 12-month target price is $40.00
5 G! s$ S# y! t, [9 A* XRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.008 l. H1 A$ z6 b/ n6 f! ]7 p
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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Corridor Resources (CDH : TSX : $2.45) H# b: B# Z0 n/ K2 N
Capital budget set to expected cash flow; production guidance lowered
& u- @, W- ]8 c5 ]RBC Capital Markets maintains "outperform", 12-month target price is $4.25: d* [; s, |/ v% B. Y0 ^$ W
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COGECO Inc. (CGO : TSX : $25.14)5 D1 f. z& C8 @1 [ k4 s0 n
Strong radio and cable drives 39% EPS growth
( ], X! h- J. H" n- o- R0 O: B7 bScotia Capital Markets continues "sector perform", 12-month target price is $45.00( \$ z' v8 k: p9 `% r
7 x3 @4 c' s/ @! aCanWest Global Communications (CGS : TSX : $0.51)/ O6 n; {6 ?6 S1 x& P
Taking action to address tough operating environment
- ?8 O4 T* m, a; a- {1 R6 E5 hBMO Capital Markets maintains "underperform", no target price reported
/ k( _6 Q) z5 h7 P8 C8 U) k1 gCredit Suisse maintains "neutral", 12-month target price is $1.00
2 a2 V6 Y6 U1 D9 R1 J4 pGMP Securities continues "reduce", 12-month target price is $0.507 X4 n" P$ ^ k" k- e6 w
RBC Capital Markets continues "underperform", 12-month target price is $0.750 s1 u7 W% O3 D
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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" u2 r9 c( j' G4 _6 HCorus Entertainment (CJR.B : TSX : $12.47)! c7 W/ d3 c. ?9 V- J: w
Q1 revenues in line, EPS beat
* a+ n8 C3 S; t. dBMO Capital Markets continues "market perform", 12-month target price is cut to $15.00" z4 z2 @# U" @0 v6 `
Credit Suisse continues "outperform", 12-month target price is $20.00- q8 E0 G7 b8 B1 B+ u
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00) m5 m" U% A. i1 U7 V6 J ]6 C' I
GMP Securities maintains "buy", 12-month target price is reduced to $17.00- l# n$ e( b* ]/ ^, U4 y
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50- l0 W0 C2 Y* B* v
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.009 T& X% Z( o5 V9 C% O
) C5 b' Z C% L# n* bCalloway REIT (CWT.UN : TSX : $11.84)
9 [, Z& @6 y0 S; }$ h6 |Held investor day
3 A+ q. w8 z7 f9 x) oScotia Capital Markets maintains "sector underperform", 12-month target price is $11.00
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* v+ |1 M! M4 s5 LDaylight Resources Trust (DAY.UN : TSX : $7.77)1 `% {: T4 D+ a* C
Reduced distributions by 38%; guided for lower capex% `8 k! Q3 L" v+ O( w6 u
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00+ E5 j: f# [, y: S
Dundee Capital Markets continues "buy", 12-month target price is $12.007 V) T7 r& z9 V% V3 @5 J; d6 `
TD 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$2.90)
, M3 d U# J: @( L5 G: USteady market and currency tailwind" M2 j9 d+ h$ \/ i8 E
TD Newcrest maintains "buy", 12-month target price is US$5.00
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Goldcorp Inc. (G : TSX : $29.74)
3 W) S* F( v3 gRevised commodity forecasts
% ]3 H1 j3 ]% \: F& y* kBlackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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- q+ b0 O) s% k% G3 }/ {8 OHeritage Oil (HOC : TSX : $3.77)/ N8 u6 q# m9 k6 [! [ [
Announced Ugandan commerciality on exploration success
' X2 {. [& q1 b5 H3 ^# s3 hTD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50) q4 f5 u. ~% _& ]8 e: m" T& N7 ~
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Harry Winston Diamond (HW : TSX : $4.98)& g1 e% j, c/ H
Retail division suffers
; L7 Z0 C& h$ XDesjardins Securities maintains "buy", 12-month target price is $12.60/ F1 u$ l1 L# z) s n: d& [& l$ C
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Laramide Resources (LAM : TSX : $1.84)
1 o1 \8 d$ y6 C( W2 N4 q5 TWestmoreland provided more high grade at Redtree's Jack Lens
) [. F5 [7 V9 PDundee Capital Markets continues "buy", 12-month target price is $2.30: J6 `0 I0 C; I% a; a6 X+ @4 ^
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Lockerbie & Hole (LH : TSX : $6.00). c6 N p) D/ ?) v& {4 R) v3 r' Y
Released Q3/09 results: very strong, focus should be on active backlog- o4 j5 y% _5 w( X# `4 k
GMP Securities continues "buy", 12-month target price is $9.00) o8 r. P" }) O" \, ~6 T
Raymond James maintains "market perform", 6-12 month target price is $8.25
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Livingston Intl Income Fund (LIV.UN : TSX : $6.00)
( `! w7 p7 u9 q; bReduced distributions by 70%! b* v1 V, T! C0 `
RBC Capital Markets maintains "outperform", no target price reported+ r' ~, N2 o; h+ p; N/ L$ W y
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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Matrikon Inc. (MTK : TSX : $2.04)* t8 V( R, N! C8 T5 y
Released Q1/09 results: a little light, but still respectable
' h/ D7 Z+ v8 O3 ~0 C( Z/ HBMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50& y9 x$ {$ v- z. Q4 b
Paradigm Capital maintains "buy", 12-month target price is $4.00" H3 g8 c. O7 Q2 o( p8 }
( F( `. y; |7 l! Q3 Z" tMullen Group Income Fund (MTL.UN : TSX : $10.97)* O# R5 z: V" j; q% }8 y
Expecting lower CFPU on higher taxes9 n* Q, }/ x/ P- Y+ ]7 N
BMO Capital Markets continues "outperform", 12-month target price is $18.002 ?) U% N# q" H' @+ X
RBC Capital Markets continues "sector perform", 12-month target price is $12.00, g- j) U2 }$ |1 _5 B
TD Newcrest continues "buy", 12-month target price is $17.00. ?: E s% i0 j( W! ~1 ^
. G5 w) r( b2 n5 P6 [Northgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)) d+ r+ ~$ @3 y8 U! r
Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain; M5 y5 B; X" ~3 P! |$ z# H+ _
Blackmont Capital continues "hold", 12-month target price is reduced to $1.259 ]7 G8 k6 R8 T
Credit Suisse maintains "neutral", 12-month target price is US$1.00" u# z1 Z: A2 S3 A7 e* r+ Y
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80
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Neptune Tech & Bioresources (NTB : TSX-V : $0.79)
: ?$ T6 S- ?& GDietary supplement business facing headwinds
7 J& \0 A: Q1 n& lParadigm Capital maintains "buy", 12-month target price is reduced to $4.008 f9 a; w- L2 E# h/ T7 E3 Q- [
. f( m# Z/ M0 g+ F) qOpen Range Energy (ONR : TSX : $1.18)
6 R- Y" n) E J4 ]1 i2 M9 hProvided operational update and F09 guidance: R! i% u* s# b* B& L2 X1 t$ N
Haywood Securities continues "sector outperform", 12-month target price is $3.258 t1 t8 z5 W2 ^+ q+ \) x+ Z
/ ^7 v7 I8 j9 b/ \! pOsisko Mining (OSK : TSX : $3.13)8 K4 m$ m* m- a% M# a+ i) x
South Barnat resource around the corner
- k9 ~- W; }$ j& Z% _9 P2 NParadigm Capital continues "speculative buy", 12-month target price is $4.75$ S! ]+ R7 i3 J$ I: ~" x0 L$ {
% X) X' _" f' I) IPan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)
, ]# E, O8 j* @5 kProvided operational update5 X4 Q' e6 I) o& E+ ~# ~) w( G
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.00% Y" S- f# k( g& E a; t2 @5 e
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
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* O& K/ f( [! v8 QParamount Resources (POU : TSX : $7.85)
; R! Y2 b z3 C4 T! K( x7 i5 S; HProvided operational update: Grande Prairie emerging as the key focus for F09( g5 C. C4 g+ t6 T" o
GMP Securities maintains "buy", 12-month target price is $12.00
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$ i0 z$ k0 u( C& {+ q( r; X qRockwell Diamonds (RDI : TSX : $0.07)
8 \8 S* B1 g" oOperations starting to turn the corner- ?3 Z6 ]. v. J- b0 h, {) F
RBC Capital Markets maintains "outperform", no target price reported
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: x1 @' J; t0 \+ a* RShaw Communications (SJR.B : TSX : $20.13)9 ^" G* c0 @& a, W' J# F
Released Q1/09 results: in line, subscribers ahead/ e. e+ t* ]: t! i- C! u
Credit Suisse maintains "neutral", 12-month target price is $25.50
1 n5 O/ L% O; T7 S5 A8 b3 t3 dGMP Securities continues "buy", 12-month target price is $26.50/ }( |8 W% H# d( ^+ C
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Sun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)% M' d! X# |4 f" Q3 S" k$ H
Held a sell-side lunch showcasing new U.S. team. F, f* K* o( i; p# Y
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.00! s4 Y. z- L& L; B G& o* a) d
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Trican Well Service (TCW : TSX : $6.93)
6 z) r2 w6 I% ^3 n; ]Awarded Russian contracts( D1 d; ]* G R4 P/ S" q% f
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75
0 |* ]% A9 \3 l3 H9 QRaymond James maintains "market perform", 6-12 month target price is lowered to $9.00
8 p' A/ e) y; O8 ]RBC Capital Markets maintains "sector perform", 12-month target price is $10.007 G/ M0 |" [( j! E$ [6 O
$ y+ D" y' _" |1 B1 VSino-Forest Corp. (TRE : TSX : $8.93)! ~ m4 ~. M4 u) b
Chinese furniture exports rose in November1 S6 |* d+ e& ]: V# Y
Dundee Capital Markets maintains "buy", 12-month target price is $23.50
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UEX Corp. (UEX : TSX : $0.88)" _- D5 X g. e$ r" H
Shea Creek's two largest deposits have become one
1 P: x) Z# n% z7 [Dundee Capital Markets maintains "buy", 12-month target price is $2.75
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. `* g* _; G6 F7 F# VVero Energy (VRO : TSX : $4.72)
7 c/ u9 b* r6 j5 j- d( dReleased Q4/08 results: horizontal focus to continue in F090 Y G! i1 k/ M2 \/ l6 s; {- C7 V! n
Dundee Capital Markets continues "buy", 12-month target price is $8.00+ C' J% [8 e8 ]% X2 [1 G
GMP Securities continues "buy", 12-month target price is $7.50
! n' S. Q& H! @) ZParadigm Capital continues "buy", 12-month target price is $12.00
! C8 b- G8 Y0 S L8 jRBC Capital Markets maintains "outperform", 12-month target price is $8.50. H6 t+ l0 k8 `$ e2 {
1 I' {0 P- J2 N5 m3 b! SWi-Lan Inc (WIN : TSX : $1.75)% U! g" E+ R1 L t( ^# I) g
Hit homerun with Samsung
2 v7 Q, f( L* Y/ e+ PParadigm Capital continues "buy", 12-month target price is $3.50 |
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