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Ear on the Street --- Jan. 16 2009# w: F5 F5 F0 U1 y2 I4 x- w# w- |
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Absolute Software (ABT : TSX : $3.36)
$ C( C. r" b/ ?' C/ F. a6 H6 oBracing for a tough few quarters
7 g9 l6 z/ o1 a# `" t6 S FCanaccord Capital maintains "hold", 12-month target price is $4.50- O! c# s" t" ]$ b3 }
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Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)- m4 |5 A' M# s A+ {' ~
Growth outlook, challenging pipeline and high cost structure make future unclear
1 J# m( N% j$ ZBlackmont Capital continues "hold", 12-month target price is lowered to $48.00
/ K/ L$ Q+ Q4 A6 G8 R7 |TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00 L r7 k/ m" M4 I
! Z5 X z0 e) U# E6 d- u* dAstral Media (ACM.A : TSX : $22.98)) q' O" K2 i% I7 R) b( f
Released Q1/09 results: strong, in light of challenging operating environment
5 n* w8 W9 B1 c6 W0 W3 ]4 JBMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00# J6 z( I1 l& T. ]
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.007 i8 u" u* R' b: a
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
r0 _0 l# H+ l7 HRBC Capital Markets continues "outperform", 12-month target price is raised to $31.006 f4 q0 J) \, h3 _. A8 Q, Y2 X
Scotia Capital Markets continues "sector outperform", 12-month target price is $30.00$ n( `5 _* Q: {6 ^( i9 b$ t
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Agnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07). t Y/ n5 r0 A3 G) j. i
Well positioned with gold production forecast to double this year and next
6 `4 f! t. |7 ~% _" D: H9 {. \Blackmont Capital continues "buy", 12-month target price is lowered to $83.004 ?- ^, n. K* J6 W& n7 B2 `$ U
TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00# P5 J* v) L5 ?+ e% e D
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ARC Energy Trust (AET.UN : TSX : $17.15)
" t' I% Z' G$ k) I: [0 M7 TReduced distributions by 20%; capex also cut
1 e" w. B, [ LRBC Capital Markets continues "outperform", 12-month target price is $19.00
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Andean Resources (AND : TSX : $0.75)7 }7 F2 Y4 B) Y& c6 ^) n' q5 j# [# n4 T
Announced F09 outlook* l$ A( | [5 J. {
Paradigm Capital continues "speculative buy", 12-month target price is $2.25
! ~# g0 h' C) FTD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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Bombardier Inc. (BBD.B : TSX : $4.65)$ v$ E [+ S0 V
Rising challenges in Aerospace- ?3 T* `+ D4 u8 u8 P3 R- N
GMP Securities continues "buy", 12-month target price is $8.001 d* R4 m1 A, r1 B) x& L" X4 q
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Bank of Montreal (BMO : TSX : $31.84)
( j: E9 A, q+ u- lAcquiring AIG's Canadian life insurance business
# B3 a- [1 v3 N; @6 KTD Newcrest continues "hold", 12-month target price is $37.00' p5 S8 c$ k0 i7 I0 S* {4 _: J* e: `+ K) \
) r& p' A" I! t* ~1 {# nCogeco Cable (CCA : TSX : $33.37)5 p, K+ @: w% S6 k
Q1 review: Canada results encouraging, but Portugal remains a drag
5 `8 G( B. U! ~! ?BMO Capital Markets maintains "outperform", 12-month target price is $46.00( f: ?7 H8 b- Z5 v) d9 [
Desjardins Securities continues "top pick", 12-month target price is $40.00
1 x4 Y( C! `. W! K8 ~. SRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00
Y$ F* u1 ? xScotia Capital Markets continues "sector outperform", 12-month target price is $55.00 k% e/ {: |% }: u
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Corridor Resources (CDH : TSX : $2.45)5 V% w+ ?- ^$ [! _: i, y
Capital budget set to expected cash flow; production guidance lowered0 X% S5 @) N- Q9 G$ m: l
RBC Capital Markets maintains "outperform", 12-month target price is $4.25# V5 z6 R' i$ g* \. d" g2 i
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COGECO Inc. (CGO : TSX : $25.14)5 a4 u1 w) D! o* M$ J' G0 P1 i+ z5 w, w
Strong radio and cable drives 39% EPS growth
, m w& I2 x+ A9 @ M; g# ^4 m! B+ ^Scotia Capital Markets continues "sector perform", 12-month target price is $45.006 @5 R% N: y: ?" \6 ]: {: t/ d7 `
7 x5 |* n |* }6 VCanWest Global Communications (CGS : TSX : $0.51)7 c* q* V4 Z% ~
Taking action to address tough operating environment6 D7 _; [* a* q3 @# a K
BMO Capital Markets maintains "underperform", no target price reported( i0 z5 K: x# y( v2 l. W; T: z
Credit Suisse maintains "neutral", 12-month target price is $1.00
5 Q- y9 K, \+ n( z" U) y" P H* AGMP Securities continues "reduce", 12-month target price is $0.50( D/ u4 [- E7 x% e& x, ~$ m
RBC Capital Markets continues "underperform", 12-month target price is $0.75& E0 M5 H% l" h
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50$ p9 V8 K; E' p4 }( {1 C
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Corus Entertainment (CJR.B : TSX : $12.47), M1 `! J. g$ m ?# R6 F
Q1 revenues in line, EPS beat* b0 g! T/ F9 f" M- f
BMO Capital Markets continues "market perform", 12-month target price is cut to $15.00
, B& T" u( T' l1 g3 b0 b3 v+ SCredit Suisse continues "outperform", 12-month target price is $20.00. Z! R$ |1 Y" S0 M' p" C
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00. O7 h4 s# J2 P8 o4 ~2 k
GMP Securities maintains "buy", 12-month target price is reduced to $17.00
, N5 ~; \( V' L' X9 w8 u7 L1 F: YRBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50; d3 E0 L2 E; O/ v1 Y, @) e
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.008 e# s4 h7 {& o( b% x/ {- M
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Calloway REIT (CWT.UN : TSX : $11.84)- U) m/ M& _- {! ?1 w
Held investor day9 c8 U9 o4 j% C- s
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00
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8 v% I$ b. q* H+ y, l! aDaylight Resources Trust (DAY.UN : TSX : $7.77)
* ~# M- y5 s/ R7 PReduced distributions by 38%; guided for lower capex
# N u# L5 J8 K) u6 vBMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.001 B. k: J4 u9 p+ B& Y4 ]
Dundee Capital Markets continues "buy", 12-month target price is $12.00/ F. I1 T! z- P8 r h1 d' p
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$2.90)1 g9 J& S1 S9 j7 C7 N+ K) I# d
Steady market and currency tailwind# b2 [# S$ g* d8 e, T! j$ U
TD Newcrest maintains "buy", 12-month target price is US$5.001 y5 Y. V& ?0 \' X& H
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Goldcorp Inc. (G : TSX : $29.74)8 M' z& B( G0 V6 f+ F6 Y" m x
Revised commodity forecasts/ A1 N* g5 ]& |% }
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.000 p/ f5 b! d4 s( ^
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Heritage Oil (HOC : TSX : $3.77)$ v# N: \$ I8 o9 K( L: y) O7 Q% S
Announced Ugandan commerciality on exploration success; }6 x' k1 b9 K0 o
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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3 m% S& U) K( r- V# g0 wHarry Winston Diamond (HW : TSX : $4.98)
) ^) h7 A5 t6 q4 ?4 A# s$ L- qRetail division suffers! P: q+ p, f, @2 A; I; d8 y0 s
Desjardins Securities maintains "buy", 12-month target price is $12.607 s! d6 }) V$ Z* N) L2 }" g
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Laramide Resources (LAM : TSX : $1.84)4 H$ G0 M% o# `* t8 r, P6 F1 ~- e
Westmoreland provided more high grade at Redtree's Jack Lens
- g9 ~4 {) m8 _0 `$ P# K ADundee Capital Markets continues "buy", 12-month target price is $2.30% w0 c _9 e$ y, a* B) j
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Lockerbie & Hole (LH : TSX : $6.00)' E. B @7 i' H8 o
Released Q3/09 results: very strong, focus should be on active backlog
+ H# d+ N- a" A, p/ F% s/ BGMP Securities continues "buy", 12-month target price is $9.00
3 W9 @4 b- [0 O% u- p' BRaymond James maintains "market perform", 6-12 month target price is $8.25
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6 _$ r8 R7 n+ y, ?9 X, v* rLivingston Intl Income Fund (LIV.UN : TSX : $6.00)
8 A/ D- K9 i: w2 P0 b5 zReduced distributions by 70%
7 E7 `" O3 q! Z* IRBC Capital Markets maintains "outperform", no target price reported
. L8 }0 r# V8 l' r7 V+ @% F+ \Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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" |% S( }$ h2 W* EMatrikon Inc. (MTK : TSX : $2.04)0 a0 l& n) k$ c+ W0 t
Released Q1/09 results: a little light, but still respectable
; G1 X! c, K Q9 x% [' Q' vBMO Capital Markets continues "outperform", 12-month target price is lowered to $2.507 @: P: j h. f, R
Paradigm Capital maintains "buy", 12-month target price is $4.00
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9 f, E& [7 S9 H7 ]7 v$ ^8 CMullen Group Income Fund (MTL.UN : TSX : $10.97)2 @5 T2 q6 k% Y$ |9 X/ z6 r
Expecting lower CFPU on higher taxes
* x! v+ W. l X, jBMO Capital Markets continues "outperform", 12-month target price is $18.00
/ S, F3 _0 E ]RBC Capital Markets continues "sector perform", 12-month target price is $12.00
* o- u; e' [- D7 e' D/ pTD 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)
) \! ]" P, w% f0 @Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain( W7 H% B j" ~ Z/ G6 R3 t+ _ ~
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25
3 I5 ^! l+ O$ YCredit Suisse maintains "neutral", 12-month target price is US$1.001 w# W( o. i' h0 _' P3 w
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.804 W. D! ]# ?# S: R& P, B$ o* _1 s
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Neptune Tech & Bioresources (NTB : TSX-V : $0.79)
/ A. p: `+ o, l1 q' uDietary supplement business facing headwinds
! H3 p5 U0 T Y8 c3 h4 k0 sParadigm Capital maintains "buy", 12-month target price is reduced to $4.00
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Open Range Energy (ONR : TSX : $1.18). @. V# C6 h( { I P
Provided operational update and F09 guidance( g% u9 {5 F" V# f* W" E U# A
Haywood Securities continues "sector outperform", 12-month target price is $3.25 A5 z$ W5 c3 c
# m! s" k+ \, R/ ?, t7 G$ \Osisko Mining (OSK : TSX : $3.13)5 I4 ]8 g. _! E1 }
South Barnat resource around the corner+ F- Q% p f7 `/ q7 r
Paradigm Capital continues "speculative buy", 12-month target price is $4.75
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4 i, w# g( i8 r( z8 G9 F/ DPan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)" t- a8 l4 ]; o5 L
Provided operational update
; M# ]5 F& q+ M" `4 p( SBlackmont Capital maintains "hold", 12-month target price is lowered to $19.00
8 ?# l1 b# z. q4 Y: J$ A! r7 jTD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50/ X6 O* b9 }+ b' h3 W
9 {, K, x) U7 ~9 m# w* V3 m" |Paramount Resources (POU : TSX : $7.85)3 P8 ]- I) V* }. [" g1 E/ x
Provided operational update: Grande Prairie emerging as the key focus for F09
8 Y2 @ o c* z# R" u# [. YGMP Securities maintains "buy", 12-month target price is $12.00# h' V" {, u) t+ }. G& c8 u1 V. g
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Rockwell Diamonds (RDI : TSX : $0.07)
1 H1 m- G. H+ b1 _/ ~8 N* wOperations starting to turn the corner
0 g( \5 A6 j9 ]( b$ oRBC Capital Markets maintains "outperform", no target price reported
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Shaw Communications (SJR.B : TSX : $20.13)
" ~' S2 ]2 }& T9 T: m: [Released Q1/09 results: in line, subscribers ahead" `( E/ Q U$ l- p4 B5 F
Credit Suisse maintains "neutral", 12-month target price is $25.504 z0 R- e/ U' ?9 }% z
GMP Securities continues "buy", 12-month target price is $26.50# c6 j9 I i5 Z) N6 q) {5 ^
. n0 D* }; G# `, ~3 q z8 J3 e JSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)6 }9 ~" k; [9 y' N% r* j! a8 i( e
Held a sell-side lunch showcasing new U.S. team g( e/ C' s6 c- z$ B
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.005 ], e+ x7 _1 f; ]
D0 \3 o; k9 P8 f0 w% qTrican Well Service (TCW : TSX : $6.93)
. w# b' s. j# u# k9 PAwarded Russian contracts( u2 N+ D2 ~2 P R
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75
! ~$ B3 c( K/ j. m9 m/ O# f0 ORaymond James maintains "market perform", 6-12 month target price is lowered to $9.00
2 x4 D1 V' z3 XRBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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" r- K2 A( q5 g2 C: b$ C S8 H! {Sino-Forest Corp. (TRE : TSX : $8.93)! ~) s( G( O3 }+ b" L
Chinese furniture exports rose in November3 @/ C2 s/ w T' J6 r
Dundee Capital Markets maintains "buy", 12-month target price is $23.50% `, ~! J {2 A6 e
" o# U2 b D4 g& L2 A, v9 w- PUEX Corp. (UEX : TSX : $0.88)
; c8 n6 h5 u7 j4 yShea Creek's two largest deposits have become one- \& E5 d: r& S& v; d9 r
Dundee Capital Markets maintains "buy", 12-month target price is $2.75
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Vero Energy (VRO : TSX : $4.72)0 e& M% j2 C q6 S( h! X# g8 j
Released Q4/08 results: horizontal focus to continue in F09; m5 Q ?; G r ]( v ?$ ?
Dundee Capital Markets continues "buy", 12-month target price is $8.00
% N' r& H8 F7 L, k7 e, tGMP Securities continues "buy", 12-month target price is $7.50
7 i4 R8 Y e; c) v+ `8 DParadigm Capital continues "buy", 12-month target price is $12.00! b- U" U# q: w. I3 y
RBC Capital Markets maintains "outperform", 12-month target price is $8.50
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+ s. M7 w" h SWi-Lan Inc (WIN : TSX : $1.75)$ ?, k3 }( F: T6 i9 V
Hit homerun with Samsung! F! C1 f4 D; K& P) ]
Paradigm Capital continues "buy", 12-month target price is $3.50 |
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