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Ear on the Street --- Jan. 16 20094 W2 K: i) R5 [ |% C
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Absolute Software (ABT : TSX : $3.36)
" X7 F, ?8 q. B* E8 sBracing for a tough few quarters$ Q# n( H2 V p; O; q1 `$ C
Canaccord Capital maintains "hold", 12-month target price is $4.50
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9 M" A: g# y7 EBarrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)
8 ~1 Z$ }' y% {! [: F$ YGrowth outlook, challenging pipeline and high cost structure make future unclear
) i$ l# x& }7 }6 t" a& NBlackmont Capital continues "hold", 12-month target price is lowered to $48.00
, s8 q# d; t5 m9 f6 V9 YTD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00
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$ k4 i v& r9 p4 q. vAstral Media (ACM.A : TSX : $22.98)
7 R; K9 b6 _7 ]! c- J$ h# ~7 vReleased Q1/09 results: strong, in light of challenging operating environment
; D J4 H; F2 y6 V" cBMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00, d& P* o: Z1 d. M
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00% W2 e X7 |) b5 T8 G
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
- o9 T0 S& Z6 G) lRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00
3 I5 r$ y b& Y4 u* ]Scotia Capital Markets continues "sector outperform", 12-month target price is $30.00
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9 W8 W( e' o/ m5 F1 zAgnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)
5 A# t) V- c0 n% z3 k. fWell positioned with gold production forecast to double this year and next
$ O/ Q$ H" D9 D. a; m2 DBlackmont Capital continues "buy", 12-month target price is lowered to $83.00
5 S' V& ^$ Q1 l8 a' Z6 g9 M OTD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00
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6 P2 T) z0 g6 H+ h" a1 kARC Energy Trust (AET.UN : TSX : $17.15)
" F- n" H! [$ I; s" s$ ?Reduced distributions by 20%; capex also cut
+ F2 r$ i1 X! c1 N2 [RBC Capital Markets continues "outperform", 12-month target price is $19.00
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8 l$ G# ~7 {1 h' i& bAndean Resources (AND : TSX : $0.75)3 K, E* S$ M& C! F) h
Announced F09 outlook
1 L+ {, }& n7 D, i* @3 I& |- FParadigm Capital continues "speculative buy", 12-month target price is $2.25- U- l# r/ G( X e! a6 A4 z7 c) l" j
TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00! V. ?* @- f$ e$ x) p
9 X( i Y4 Z' b& f2 `6 Y, YBombardier Inc. (BBD.B : TSX : $4.65)# ~4 r# h! I- ]6 E% P
Rising challenges in Aerospace# a/ F" Z, W1 w" v+ n a
GMP Securities continues "buy", 12-month target price is $8.001 V" e5 }4 i' ?2 t* U$ Z1 k% k) x
: [: V3 I Q+ qBank of Montreal (BMO : TSX : $31.84)$ k6 w/ s0 ]/ q( [3 b
Acquiring AIG's Canadian life insurance business* G( U; Q, A0 f
TD Newcrest continues "hold", 12-month target price is $37.007 F. L. K2 {* i
! b8 k. n% H4 ~; c9 d+ L2 ECogeco Cable (CCA : TSX : $33.37)
6 }& _! t. C x3 [$ ?Q1 review: Canada results encouraging, but Portugal remains a drag
' P: e5 S) O0 [0 m& ~: kBMO Capital Markets maintains "outperform", 12-month target price is $46.00
- v% }% q5 C; @3 Y6 @" W/ l7 rDesjardins Securities continues "top pick", 12-month target price is $40.00
; J" p+ w$ H- r' n! v ERBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.009 \) t$ c( z) L/ q
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00! ?/ p* l) U% p, z/ ]
3 E H. V% g4 d, m* VCorridor Resources (CDH : TSX : $2.45)% E, s( ^+ X( M' a
Capital budget set to expected cash flow; production guidance lowered6 V! N. C" w' V
RBC Capital Markets maintains "outperform", 12-month target price is $4.25
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% r, q- W: ^* X8 t! B' \- w; L' f: \( X7 w) xCOGECO Inc. (CGO : TSX : $25.14); y: a {( I( o- }) o
Strong radio and cable drives 39% EPS growth0 ]9 K; j) U# a% B
Scotia Capital Markets continues "sector perform", 12-month target price is $45.00
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CanWest Global Communications (CGS : TSX : $0.51)
0 s+ l1 f& r& T. eTaking action to address tough operating environment( h- x$ C" q8 R
BMO Capital Markets maintains "underperform", no target price reported
- U% m9 v' x# n; L' GCredit Suisse maintains "neutral", 12-month target price is $1.00
) `% {% Y; Y; F9 U! {7 L/ p' I! NGMP Securities continues "reduce", 12-month target price is $0.50% ~! D' z( a" x
RBC Capital Markets continues "underperform", 12-month target price is $0.75/ ]& [ E$ g( C! g: q6 V% ]: m3 d
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.504 R* Y1 R5 E# M0 w
+ U: d: n- d" b; P' s# ECorus Entertainment (CJR.B : TSX : $12.47)
) S2 }( E+ B8 x% r) H* \Q1 revenues in line, EPS beat
3 y1 ]2 J% T: O! B8 \6 VBMO Capital Markets continues "market perform", 12-month target price is cut to $15.009 q& J3 ?' C7 r9 b* H
Credit Suisse continues "outperform", 12-month target price is $20.00: l/ y+ s( T5 j: z/ {3 g
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00
3 D0 O+ p& G3 ^% ZGMP Securities maintains "buy", 12-month target price is reduced to $17.00% t; w- M% L3 O2 U* H0 N5 c/ c
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50
" `1 ]3 l7 `7 h$ f9 _2 t' cScotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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Calloway REIT (CWT.UN : TSX : $11.84)
3 e }8 g+ w- O" G6 q" Q' x$ cHeld investor day* ]9 A2 h% }( N/ F, S3 V
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00
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; s2 C2 ?5 g( |; i# s# KDaylight Resources Trust (DAY.UN : TSX : $7.77)
" ^5 @9 \* e2 t5 e( @/ t; @2 MReduced distributions by 38%; guided for lower capex
9 l3 n L- ^, i$ kBMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00* O+ a6 c8 j6 I' P
Dundee Capital Markets continues "buy", 12-month target price is $12.00
7 C- X- d! j9 z8 r. Y9 f) O/ |% vTD Newcrest continues "hold", 12-month target price is $7.50# b$ _$ s( `, h, ~. N) [1 W4 O# E0 _4 y
" O8 y; \& d uEXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)
& U3 N% g2 `( R6 V. z& NSteady market and currency tailwind
& C# R7 ]6 R f$ t" \# dTD Newcrest maintains "buy", 12-month target price is US$5.00) W2 A# i1 d C' `- a
. j' x, f9 O! y/ G/ e3 k* j" gGoldcorp Inc. (G : TSX : $29.74); G/ M6 K* L6 P- ]# `3 q3 I% ]
Revised commodity forecasts
- w4 p/ l" s9 L8 U* EBlackmont Capital maintains "buy", 12-month target price is reduced to $49.004 K% _' N {7 [9 n) D3 p: ]
# ~4 R8 k9 c9 A( }Heritage Oil (HOC : TSX : $3.77)
. ^6 U! C: f" YAnnounced Ugandan commerciality on exploration success6 U6 _- D& t2 C# O8 Z
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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5 G% O8 L/ V& y! p$ J) N8 UHarry Winston Diamond (HW : TSX : $4.98)
7 [, L0 R, q$ S1 R' {2 pRetail division suffers8 u0 {* ]+ U8 D6 x' f- R1 G5 J
Desjardins Securities maintains "buy", 12-month target price is $12.60
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Laramide Resources (LAM : TSX : $1.84)
6 [, y8 `) N$ h1 q6 dWestmoreland provided more high grade at Redtree's Jack Lens
4 b+ l. U, @- ]- b9 [Dundee Capital Markets continues "buy", 12-month target price is $2.30; G+ @% P2 h6 y; B9 t# G& T
% M/ r B/ {, g# E L7 ]; N& ALockerbie & Hole (LH : TSX : $6.00)8 g) q2 X! A$ ~1 O& E, U- J9 {0 W
Released Q3/09 results: very strong, focus should be on active backlog
; h: k4 g# d+ {6 o/ Q9 MGMP Securities continues "buy", 12-month target price is $9.00
* W/ F v9 ^+ v8 @+ A3 a9 vRaymond James maintains "market perform", 6-12 month target price is $8.25. T) g! ?2 M$ y1 ]- Q$ x
$ y% ]! w: X, V [& JLivingston Intl Income Fund (LIV.UN : TSX : $6.00)
9 T- s, H2 Z, U1 Z: M3 ?7 u! I: Y3 FReduced distributions by 70%
$ C8 [7 P+ a6 n/ z/ x* U0 x- A- JRBC Capital Markets maintains "outperform", no target price reported
) z; E4 Q U/ ], j8 r8 R3 qScotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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Matrikon Inc. (MTK : TSX : $2.04). c5 o" h) R' E6 N8 _8 b4 w( @, V
Released Q1/09 results: a little light, but still respectable/ ]+ Z, i) @5 B# M8 M1 H) [5 w
BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50: b! m l* O( A6 k+ X }4 Y7 G
Paradigm Capital maintains "buy", 12-month target price is $4.00: i3 l7 X! d; ]
1 u' b9 F) i8 i+ |7 PMullen Group Income Fund (MTL.UN : TSX : $10.97)/ Z9 \; Y3 V! T, t
Expecting lower CFPU on higher taxes, u8 K: W) X2 z
BMO Capital Markets continues "outperform", 12-month target price is $18.00* Q7 S- w2 u: h8 _+ ^# n9 {% }& [
RBC Capital Markets continues "sector perform", 12-month target price is $12.006 R, ]! [0 W2 S6 q A
TD Newcrest continues "buy", 12-month target price is $17.00
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3 }7 b1 @& C. K+ T2 w6 `Northgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)2 f* S* L. c+ S
Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain" `# l* F" l C& K/ v2 a9 ]2 H4 j
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25
; A3 @! o6 l6 q2 V# Q- C NCredit Suisse maintains "neutral", 12-month target price is US$1.00
9 R1 O/ p8 e( D! H/ `* r; uScotia Capital Markets continues "sector underperform", 12-month target price is US$0.80% r- y0 V7 X6 I% P- R% e1 [8 `
& M; W- i; ?( W" B/ e$ XNeptune Tech & Bioresources (NTB : TSX-V : $0.79)
8 v t" r2 t$ \6 NDietary supplement business facing headwinds
9 I& ^- G1 ?( ~! U! \* j. Z/ {Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00
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Open Range Energy (ONR : TSX : $1.18)4 h; L3 E! v) O
Provided operational update and F09 guidance
& r' Y' W' E- K) ?; mHaywood Securities continues "sector outperform", 12-month target price is $3.25
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Osisko Mining (OSK : TSX : $3.13)0 o5 g! @% L L P; U; m/ I
South Barnat resource around the corner& w, R! {! ?3 a0 L2 n. w
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)
2 r& N) c2 ~' V/ Z) qProvided operational update/ L: {, X# H7 a+ X
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.00/ x; Z v6 S% [) H
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
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; c. d4 {, a; i! g& d+ @Paramount Resources (POU : TSX : $7.85)1 |7 `1 p6 @! x# Z* F
Provided operational update: Grande Prairie emerging as the key focus for F093 b4 m$ c7 k0 }
GMP Securities maintains "buy", 12-month target price is $12.002 ?; ]! Q- g% i7 [; C3 ]
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Rockwell Diamonds (RDI : TSX : $0.07)9 o7 A5 F! U6 V; s
Operations starting to turn the corner
. G+ W5 n7 J" c: F4 m. Y [RBC Capital Markets maintains "outperform", no target price reported
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\" D' X% w0 F. iShaw Communications (SJR.B : TSX : $20.13)
1 V* ?: R2 ~* [9 g/ {Released Q1/09 results: in line, subscribers ahead. P/ I$ w+ d& ^$ }1 V7 T0 G
Credit Suisse maintains "neutral", 12-month target price is $25.50
; g9 o1 Q4 v- G. u+ |( |- EGMP Securities continues "buy", 12-month target price is $26.508 Q8 I& S& _. ^& e* i3 c
9 r: ~9 ]3 s! |Sun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)
* F6 Y: H1 Q7 Q/ B) F$ ~4 O0 E; KHeld a sell-side lunch showcasing new U.S. team9 M1 M# x4 n6 v7 G% O/ ?
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.00- x) o% }5 H6 u
9 e ~) |5 S" xTrican Well Service (TCW : TSX : $6.93)
% K) X7 x' q t1 A7 ]4 ^8 n+ zAwarded Russian contracts3 E3 H/ V6 O+ @$ M
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75
* D1 N1 X0 ^% S* [ A" ZRaymond James maintains "market perform", 6-12 month target price is lowered to $9.00
, @* f3 m: G6 k. zRBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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Sino-Forest Corp. (TRE : TSX : $8.93); f# ^( o3 X' e
Chinese furniture exports rose in November
! V' f0 ?. X! q+ m) T8 v1 aDundee Capital Markets maintains "buy", 12-month target price is $23.50+ F3 Z6 D0 [7 f
+ R5 \2 ~& a: G! BUEX Corp. (UEX : TSX : $0.88)9 t, w+ J* K8 Q8 k! |" U
Shea Creek's two largest deposits have become one
9 s% N& F9 t! g3 [1 p- B- ~Dundee Capital Markets maintains "buy", 12-month target price is $2.75
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- _; ^+ O$ y1 Z6 h. bVero Energy (VRO : TSX : $4.72) U( {" v5 L0 ]2 h" L& k% z* {: ?
Released Q4/08 results: horizontal focus to continue in F09
0 \' F% s# e, A# [) D qDundee Capital Markets continues "buy", 12-month target price is $8.00
; f& m) u- M; |GMP Securities continues "buy", 12-month target price is $7.50
: s6 L! \/ A; M% d0 F IParadigm Capital continues "buy", 12-month target price is $12.00
; |. S- g/ Y y. j' KRBC Capital Markets maintains "outperform", 12-month target price is $8.50$ c4 c3 C0 c4 H
$ L* V- r% d+ ^+ g; [" dWi-Lan Inc (WIN : TSX : $1.75)( _9 l2 G7 g+ y+ {. Z
Hit homerun with Samsung
P1 V J9 \% u: T& [Paradigm Capital continues "buy", 12-month target price is $3.50 |
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