 鲜花( 0)  鸡蛋( 0)
|
Ear on the Street --- Jan. 16 2009
! ^. R/ a' ^! k3 d
( D ^2 ^& F- `: uAbsolute Software (ABT : TSX : $3.36)
/ ?" S, \5 P( `- y1 b7 U! f& c6 qBracing for a tough few quarters' l; r, w6 e0 @) T8 B& n
Canaccord Capital maintains "hold", 12-month target price is $4.50
_. s, Z: A3 k0 _" q; X$ ?$ L# k- a$ m( n" ]0 f/ T% Q4 C: p4 h
Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)0 W; W* C1 g# Z7 x X5 k
Growth outlook, challenging pipeline and high cost structure make future unclear
& A0 _- d* p4 b/ F, ~9 @3 o) `Blackmont Capital continues "hold", 12-month target price is lowered to $48.00
& L8 S! D( u% K$ L% eTD Newcrest downgrades to "hold", 12-month target price is raised to US$37.001 E( P8 ^7 J3 C4 A9 q7 O$ d0 r
& I9 V; E: u2 h, O* h1 H& K
Astral Media (ACM.A : TSX : $22.98)
( B1 B6 c4 G* z0 G X! P9 M3 v; Z dReleased Q1/09 results: strong, in light of challenging operating environment" {) J5 H) x4 U p
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00+ S& F7 ?/ r( x6 C& ]8 {) _
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00
5 x% e' z$ G1 N2 wGMP Securities maintains "buy", 12-month target price is reduced to $30.00
6 x" }2 L6 q! R% D& n. WRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00
* J9 f: p/ d7 n6 R/ r: kScotia Capital Markets continues "sector outperform", 12-month target price is $30.00
1 V; q% O* y7 E6 {3 z+ r+ p: b9 v7 G8 k D, F7 }
Agnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)8 b" u* ? u/ b Y- \$ t2 x( D7 s, h
Well positioned with gold production forecast to double this year and next
! w5 O0 B& r$ A, KBlackmont Capital continues "buy", 12-month target price is lowered to $83.00
8 A+ w0 [9 g$ {( f& WTD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.004 x0 b. V: b2 K- [4 O
2 L, D3 Q) V+ q1 [
ARC Energy Trust (AET.UN : TSX : $17.15)
" b* ?& l( P7 y T9 s# NReduced distributions by 20%; capex also cut
0 f8 s1 k7 j8 ^! {0 m- SRBC Capital Markets continues "outperform", 12-month target price is $19.006 C, w( F1 j, S- x: R' B
1 z3 |1 J' V4 M
Andean Resources (AND : TSX : $0.75)
/ h- }( W0 |, x. t N6 [Announced F09 outlook
5 g9 ?3 k0 ~ \: X9 UParadigm Capital continues "speculative buy", 12-month target price is $2.25
3 [ N5 H, a% F' I* d5 d1 hTD Newcrest downgrades to "hold", 12-month target price is cut to $1.00$ @; v0 E( {$ q k% R" [0 ~
# a4 I! k/ ^8 E4 Q' o
Bombardier Inc. (BBD.B : TSX : $4.65)
H; S* N; \# M& i# W- Z' zRising challenges in Aerospace
% C$ g( U5 V: |: Z- GGMP Securities continues "buy", 12-month target price is $8.00
0 p& A2 v2 Z4 y; r$ [- `* _1 N: R! q7 W2 T5 E# a
Bank of Montreal (BMO : TSX : $31.84)! v5 w: E; L6 K1 ^
Acquiring AIG's Canadian life insurance business0 `6 a" q" ?) _& l! P
TD Newcrest continues "hold", 12-month target price is $37.00
' E: G1 i, A# P2 f% b2 U- H1 C8 U/ X& e
Cogeco Cable (CCA : TSX : $33.37) W" p+ w x1 M: B1 O' l- s; W
Q1 review: Canada results encouraging, but Portugal remains a drag8 r2 u0 B$ B, C. c( g$ z2 h
BMO Capital Markets maintains "outperform", 12-month target price is $46.00
, c- I' {( s3 U' q* A* \Desjardins Securities continues "top pick", 12-month target price is $40.00* ^0 Y0 N/ i$ F
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00" w. q: P1 \' l1 T% C0 H/ M
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00. S& L, C$ g0 m" w2 r
, x$ n6 Q C9 D
Corridor Resources (CDH : TSX : $2.45)
1 T8 t# @- I+ x7 f% RCapital budget set to expected cash flow; production guidance lowered2 a* }- Q. z- O3 ~! P: ^2 L
RBC Capital Markets maintains "outperform", 12-month target price is $4.253 P% l& D* O. }: i u. Z
0 p* \! w; ]5 Y7 Y; ?8 P# MCOGECO Inc. (CGO : TSX : $25.14)& b# q! F" K5 E$ g& R" d" a
Strong radio and cable drives 39% EPS growth8 u5 a8 G, n. L2 [5 W
Scotia Capital Markets continues "sector perform", 12-month target price is $45.00" j, O& g, K m( U g9 `- y2 |0 s: ~
, w" G+ m* C/ T' A: T6 P# \- x
CanWest Global Communications (CGS : TSX : $0.51)2 `6 o! w$ i2 D+ i& x
Taking action to address tough operating environment
, b! T7 e4 r$ f, c \BMO Capital Markets maintains "underperform", no target price reported
4 N9 @3 E5 n) p% z: b/ T( i5 PCredit Suisse maintains "neutral", 12-month target price is $1.00; a' q% t3 t1 U
GMP Securities continues "reduce", 12-month target price is $0.50
" `' }6 f& d! d4 Y7 u" |RBC Capital Markets continues "underperform", 12-month target price is $0.75. v! l$ ` |% E) X( b. `
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50, w" t4 O9 I( u4 B$ j
+ P& i4 L; \3 U; J7 i
Corus Entertainment (CJR.B : TSX : $12.47)! h" c5 R# X( {9 Q; E
Q1 revenues in line, EPS beat! P/ {6 y5 c4 F. l7 h3 \3 P8 g l
BMO Capital Markets continues "market perform", 12-month target price is cut to $15.00: @: I# z1 R \* M6 |) A
Credit Suisse continues "outperform", 12-month target price is $20.009 x: C8 d2 t" i5 |8 r- z9 P
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00
+ r" P) f2 |' K2 R SGMP Securities maintains "buy", 12-month target price is reduced to $17.00: r% u( c" z; }
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50* D1 |3 ?& [ t* p
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00
+ W( {5 _/ ]$ _0 [" p- Z; K* O
! p8 T3 G# o( rCalloway REIT (CWT.UN : TSX : $11.84) m1 G9 a! _1 r% e2 I
Held investor day! o3 U! S) U( F3 g, ^6 I& o
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00: Z; ?8 k" D6 r
# z2 N. L6 ?( L, s( NDaylight Resources Trust (DAY.UN : TSX : $7.77)
, W$ h# I% A) _6 j( T: FReduced distributions by 38%; guided for lower capex
& [0 A* d) P2 H# u% c* e/ hBMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00
0 H% W2 c8 Z2 V4 A y/ MDundee Capital Markets continues "buy", 12-month target price is $12.00
4 u8 f) v: S. _TD Newcrest continues "hold", 12-month target price is $7.50: S" u' L/ A" g9 H% d% U. g
; ^4 @$ [8 B8 Z* W' z3 YEXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90), i) Y. ?- D/ F5 L; y+ x2 `
Steady market and currency tailwind. d, x& p/ u0 Y
TD Newcrest maintains "buy", 12-month target price is US$5.00
9 ]0 _* J2 y2 g0 E% H5 K2 x4 Z7 S" L M9 M
Goldcorp Inc. (G : TSX : $29.74)
6 f& v5 N$ t A4 G% SRevised commodity forecasts
& S% F, u v- X0 ?5 q ]( qBlackmont Capital maintains "buy", 12-month target price is reduced to $49.001 _ t# p. V6 x. \
% c: s! h9 e% q( THeritage Oil (HOC : TSX : $3.77)
* p6 w, t# N1 o; ~ ZAnnounced Ugandan commerciality on exploration success
% [2 H; J) F- a$ N' z8 zTD Newcrest maintains "speculative buy", 12-month target price is raised to $5.506 o& h. P5 I5 W5 Z
5 S0 e5 M" Q6 }9 {
Harry Winston Diamond (HW : TSX : $4.98)
6 n$ A9 Z4 i; B2 A ERetail division suffers
* o7 E6 j5 ?& |7 m- f( y5 z" ODesjardins Securities maintains "buy", 12-month target price is $12.60! V. i* \3 L% } _
/ _) w! T- i- G$ x' D$ L, dLaramide Resources (LAM : TSX : $1.84)
\- @3 f) ^ z* OWestmoreland provided more high grade at Redtree's Jack Lens' | G1 `: q# W8 V' K; l& [ h
Dundee Capital Markets continues "buy", 12-month target price is $2.30
( Z# ~* K) \4 P6 p( m
0 e- J# t* p1 K% B4 SLockerbie & Hole (LH : TSX : $6.00)1 b6 C6 ~/ S+ P) [0 D! I
Released Q3/09 results: very strong, focus should be on active backlog
W7 c" W; f: u- z5 P% p3 D# tGMP Securities continues "buy", 12-month target price is $9.009 Z: ^! G% {. g* @6 F% ]0 S6 m8 T
Raymond James maintains "market perform", 6-12 month target price is $8.25+ N, ^0 h* v2 f4 D2 M4 Z
' w& [* y# {, F8 }Livingston Intl Income Fund (LIV.UN : TSX : $6.00)
" m0 L$ [( h9 Y3 g' ?: J6 MReduced distributions by 70%) d# M4 t8 d, y2 B3 ?$ V+ n: |
RBC Capital Markets maintains "outperform", no target price reported
# ~2 `% @3 ~0 X0 TScotia Capital Markets continues "sector underperform", 12-month target price is $6.50$ Z8 r# Z- @$ }! N% d
+ u$ ~4 r4 X/ { j& s) M
Matrikon Inc. (MTK : TSX : $2.04): }; p# k+ c5 l2 i8 M* [8 {7 y
Released Q1/09 results: a little light, but still respectable9 U, f9 u6 s) t3 N# J; K! q/ r
BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50- u8 v+ u0 W, a( R! k4 h) K: ~
Paradigm Capital maintains "buy", 12-month target price is $4.00
c. u7 x u, b. n: ^( O) C9 L' }8 C5 _+ c2 r! K" j5 p
Mullen Group Income Fund (MTL.UN : TSX : $10.97)
8 ^5 S, H) Y# E1 G3 r* \& H- BExpecting lower CFPU on higher taxes- P2 n/ x5 l2 I; j- L% }
BMO Capital Markets continues "outperform", 12-month target price is $18.00
$ T7 \) `' h& m5 |; o4 yRBC Capital Markets continues "sector perform", 12-month target price is $12.000 H4 f3 A" f ]: @4 B: y1 Q6 D
TD Newcrest continues "buy", 12-month target price is $17.00
7 L' R( s' h5 d& a5 _ m+ Z" z& j0 b' L5 x' f5 i
Northgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)
: O) n% ^" i7 }2 s+ VReleased Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain
5 ?8 x- [, \) v2 E! ?4 m) C& KBlackmont Capital continues "hold", 12-month target price is reduced to $1.25
' k `' n( K7 J: Y7 cCredit Suisse maintains "neutral", 12-month target price is US$1.00
5 U6 s- e$ t! ^: B5 w# |& tScotia Capital Markets continues "sector underperform", 12-month target price is US$0.805 ^" d7 L# C+ {% H& W
% R0 x3 S- v' b3 {% T, {
Neptune Tech & Bioresources (NTB : TSX-V : $0.79)$ K( }- U6 {2 m# Q( J9 m
Dietary supplement business facing headwinds
7 @. l8 E# B; x- ^Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00
# e6 k _" j' H4 P" Q$ w. a
4 v: d' y3 ~5 U2 ^; u0 OOpen Range Energy (ONR : TSX : $1.18)& k& h" X1 K8 q2 a. R% R
Provided operational update and F09 guidance* @7 m8 K" `5 W
Haywood Securities continues "sector outperform", 12-month target price is $3.258 F. m$ e* |# x8 S! p
6 ]* s) T5 ^: @0 L! y4 YOsisko Mining (OSK : TSX : $3.13)
% ~5 ]) S j. ^4 x* v% BSouth Barnat resource around the corner
$ h* ~/ v' ]6 Z' BParadigm Capital continues "speculative buy", 12-month target price is $4.75. h" C$ R( W2 x9 \0 L) [
, @* x& T a3 R% R! Y* F! cPan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)) K5 e c: ~& D: z. {) e, Z
Provided operational update
# }; k. p0 ^9 T: h0 ^$ M+ jBlackmont Capital maintains "hold", 12-month target price is lowered to $19.00
! E9 w+ x. Z5 o1 `; O) I( _TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
" ~& x2 `% J% A# D. }) i9 M$ O; ]
" F+ F& Q" \; i, Z1 h& YParamount Resources (POU : TSX : $7.85)
' g* e& m& Z# F4 a8 k8 e! k: P3 G5 S$ HProvided operational update: Grande Prairie emerging as the key focus for F09" p6 \8 _" G4 |" y: {4 L0 I
GMP Securities maintains "buy", 12-month target price is $12.00
& E3 l: y0 ]9 N+ |
+ n4 n: Z# @. O1 \0 o+ ^" qRockwell Diamonds (RDI : TSX : $0.07)
6 M; o. z: z+ l! Q% [: w8 cOperations starting to turn the corner, q+ U! U! a% I
RBC Capital Markets maintains "outperform", no target price reported
4 J8 i/ F l! G2 Z, ?/ o! i/ [0 |7 G: @9 U( g) Y/ r, C: i% Y
Shaw Communications (SJR.B : TSX : $20.13)! s/ m0 S0 q! u3 [6 V8 j
Released Q1/09 results: in line, subscribers ahead
9 H2 {. A* c- o; b) dCredit Suisse maintains "neutral", 12-month target price is $25.50
J+ _3 A- U& s: b9 Y* u) ?GMP Securities continues "buy", 12-month target price is $26.50
) B/ U& T$ A# z5 `& N: K1 q- U ]* u2 Y
Sun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)5 E! m# V2 R( f. p) l1 z' i
Held a sell-side lunch showcasing new U.S. team& i4 H, z4 R; |, T! Z) w1 O
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.00' V2 r( I2 M: \' A1 E$ O: Q
2 z" p$ u9 w& z$ `$ YTrican Well Service (TCW : TSX : $6.93)
6 y: i9 ^2 S2 P: Y( e3 wAwarded Russian contracts
1 _ V, {, i/ N C- ~Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75. U: B( N+ v, {% w9 j4 N2 J
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00
/ S$ v/ u/ F. P O7 t8 n- s5 yRBC Capital Markets maintains "sector perform", 12-month target price is $10.00
- ?( _9 |. K8 X: Y4 f# R7 h
& }) B( D* b- |- H% z- h9 t3 @Sino-Forest Corp. (TRE : TSX : $8.93); k' W' S( g. a j% R h8 k7 b
Chinese furniture exports rose in November6 z5 ?0 h# Z( F# h* d! A
Dundee Capital Markets maintains "buy", 12-month target price is $23.50% J) d9 T1 t# W% F ?4 \' [8 V, L
2 o4 @+ K" E& xUEX Corp. (UEX : TSX : $0.88): s/ ?2 r( R6 c [5 V" {
Shea Creek's two largest deposits have become one
# U4 r, x+ ?: C8 Z) i' g$ eDundee Capital Markets maintains "buy", 12-month target price is $2.75
0 d* ]( b) y/ _1 v1 Q
* z# T6 b7 X7 N% YVero Energy (VRO : TSX : $4.72) \, ]) r6 F4 \
Released Q4/08 results: horizontal focus to continue in F090 m; w! d4 F3 \( p8 l, ^! F* i
Dundee Capital Markets continues "buy", 12-month target price is $8.00
+ o+ q- V$ n, _: {* KGMP Securities continues "buy", 12-month target price is $7.50
# d& h' d ^; GParadigm Capital continues "buy", 12-month target price is $12.004 R, O: x$ Y0 S5 A' U8 v: l
RBC Capital Markets maintains "outperform", 12-month target price is $8.500 O* w6 v: I* A9 ^' J: u3 G
% {& G. S1 i' @Wi-Lan Inc (WIN : TSX : $1.75)
1 o v0 N3 j' [0 M; q# y$ ~6 kHit homerun with Samsung0 Z9 U& d! c+ B
Paradigm Capital continues "buy", 12-month target price is $3.50 |
|