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Ear on the Street --- Jan. 16 2009/ m: x0 I4 w6 S3 k1 X/ D
/ f( L; ]5 \0 s; ^8 _5 b/ oAbsolute Software (ABT : TSX : $3.36)- l3 W9 d3 _1 U4 t. |
Bracing for a tough few quarters, g- c, j: ~; h2 X! x) O
Canaccord Capital maintains "hold", 12-month target price is $4.50
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Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)$ @, l* F/ d% N$ ~6 y( w9 f
Growth outlook, challenging pipeline and high cost structure make future unclear
6 K4 K( k, D/ BBlackmont Capital continues "hold", 12-month target price is lowered to $48.00& Z3 u( w- ]9 Z% b2 S: E9 z
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00
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4 F" L2 t, N9 p2 p- YAstral Media (ACM.A : TSX : $22.98)8 w; Y: [' [( d9 n' P
Released Q1/09 results: strong, in light of challenging operating environment
2 Z1 E. L; g$ l" [* wBMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00+ {+ A% L" z! e+ s" R$ ~
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00
* |0 S _. s1 J2 I2 ]8 t1 A! VGMP Securities maintains "buy", 12-month target price is reduced to $30.00" S# s2 T# X$ h' }: u, p6 m9 U
RBC Capital Markets continues "outperform", 12-month target price is raised to $31.00
1 o$ I0 ?% t; u$ {' x5 B9 YScotia Capital Markets continues "sector outperform", 12-month target price is $30.00
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Agnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)
. e8 x" U3 w) v( Q$ e) fWell positioned with gold production forecast to double this year and next
# g, P7 Y4 Q% Y2 E, n* O6 YBlackmont Capital continues "buy", 12-month target price is lowered to $83.00
( B' D9 g. N8 }3 |TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00
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a+ I# ? X" \0 bARC Energy Trust (AET.UN : TSX : $17.15)7 ]! p3 M/ `8 {) c, w
Reduced distributions by 20%; capex also cut
" k* _6 x# b5 m% I& X% T! LRBC Capital Markets continues "outperform", 12-month target price is $19.00# D) _1 i N8 E! [0 a* W
7 G7 L# g, d' l' cAndean Resources (AND : TSX : $0.75), T4 I, T& l* } H6 H
Announced F09 outlook4 g, k" |! X/ Q! e9 ?
Paradigm Capital continues "speculative buy", 12-month target price is $2.25
' E x* M1 b: F0 d4 D2 l( m& OTD Newcrest downgrades to "hold", 12-month target price is cut to $1.00& |/ F% v% V, J2 j. W+ O9 C
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Bombardier Inc. (BBD.B : TSX : $4.65)! F' i9 l1 a2 ?8 Y' a4 m
Rising challenges in Aerospace
' O' Y& C5 r: F/ M& k& b4 DGMP Securities continues "buy", 12-month target price is $8.007 T R( P, }% S1 k1 t
5 j9 p. b# x0 c- l/ o. }Bank of Montreal (BMO : TSX : $31.84), f% @8 a) }0 F6 W" U8 \
Acquiring AIG's Canadian life insurance business0 p: B! i* { d1 F6 i
TD Newcrest continues "hold", 12-month target price is $37.00
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Cogeco Cable (CCA : TSX : $33.37). Q. E3 H( W7 W/ U+ t
Q1 review: Canada results encouraging, but Portugal remains a drag" g- l4 W5 p+ x7 U+ m) k7 [
BMO Capital Markets maintains "outperform", 12-month target price is $46.00
) D* O; v8 h, d: x+ C# m+ Q& zDesjardins Securities continues "top pick", 12-month target price is $40.00
! z" J" l& n1 Z" i3 s7 I9 B# K* XRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00% r& |) A0 G/ C T
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00' @* s/ t& k8 q/ ?: p0 Q3 z
/ A0 _# V$ W# T k/ U" i% GCorridor Resources (CDH : TSX : $2.45)) p" L* G/ o+ B6 c8 S$ X/ Z
Capital budget set to expected cash flow; production guidance lowered* |2 T, e& A2 Q; u% `6 C
RBC Capital Markets maintains "outperform", 12-month target price is $4.25- P# `) ^; C# O1 f/ H, B5 ?
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COGECO Inc. (CGO : TSX : $25.14)
s7 Y1 t% e7 ]' ?# C( lStrong radio and cable drives 39% EPS growth p( [5 z0 g: q* X4 u0 {# l
Scotia Capital Markets continues "sector perform", 12-month target price is $45.007 t5 n" V3 {" Y2 B
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CanWest Global Communications (CGS : TSX : $0.51)7 M- A0 U- k/ z( n
Taking action to address tough operating environment2 U0 t, J( E v
BMO Capital Markets maintains "underperform", no target price reported
. d3 o U$ E) `3 q ?Credit Suisse maintains "neutral", 12-month target price is $1.00
6 Y7 \. M0 i1 [, _4 z. ZGMP Securities continues "reduce", 12-month target price is $0.501 h' ~! V3 n& h9 E4 B1 K
RBC Capital Markets continues "underperform", 12-month target price is $0.75
2 I& y+ K4 i! t3 K QScotia Capital Markets continues "sector underperform", 12-month target price is $0.50% g& R. ]1 [0 T/ O1 ~1 h
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Corus Entertainment (CJR.B : TSX : $12.47)
; F0 i6 _! P1 F5 u' m8 p4 K& ?Q1 revenues in line, EPS beat
& s) {" N2 e4 r# SBMO Capital Markets continues "market perform", 12-month target price is cut to $15.00
$ {1 ]+ k! P# `- DCredit Suisse continues "outperform", 12-month target price is $20.00
# Q8 P! K: N& i+ U5 Z# f3 LDesjardins Securities maintains "buy", 12-month target price is lowered to $15.00
5 w$ s+ i: c$ E( N' ?$ aGMP Securities maintains "buy", 12-month target price is reduced to $17.00
* e+ P; y- u! o# VRBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50
/ J* K! m3 a$ V* ]) O6 U4 TScotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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Calloway REIT (CWT.UN : TSX : $11.84)
' d& L" T) }% yHeld investor day/ F X) J: ]9 y2 d) k* \8 |$ a
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.008 C, P, M6 e: d" } D' J; `
1 t% l1 `- e" R& [5 ZDaylight Resources Trust (DAY.UN : TSX : $7.77); p- s7 z0 O4 o7 N/ ~
Reduced distributions by 38%; guided for lower capex% T5 w v0 E. M! v* Y! I& H+ T8 Z+ a
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00
+ N$ z# D/ \( o6 ]" f: UDundee Capital Markets continues "buy", 12-month target price is $12.00, P3 C I5 B2 d/ [6 Q
TD Newcrest continues "hold", 12-month target price is $7.50
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f$ \- m* U0 n3 g4 G1 k' UEXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)
" n! d- j% D5 N, p6 J7 G( {Steady market and currency tailwind
8 p" P; _: \, hTD Newcrest maintains "buy", 12-month target price is US$5.00
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Goldcorp Inc. (G : TSX : $29.74)
) j: E8 H1 k1 H' N. WRevised commodity forecasts
" s; _" E9 S- ^& C4 ~2 e+ l5 [ s |Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00, O# Y& C, |, f7 E; F3 G9 l% [
- \+ q6 D, g) S& bHeritage Oil (HOC : TSX : $3.77)+ Y+ O2 t( n- N* Y# P
Announced Ugandan commerciality on exploration success# Y1 e( O/ L* q3 V, g; f" B; s8 Z0 D
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50' X, o) R7 i: p
], l( [! \1 |% E$ m% A3 RHarry Winston Diamond (HW : TSX : $4.98)% e4 q: ]( T" v) F' ^
Retail division suffers
: Q+ i3 d+ Y6 t! LDesjardins Securities maintains "buy", 12-month target price is $12.60
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Laramide Resources (LAM : TSX : $1.84)
0 g, |4 a% W5 E; L, tWestmoreland provided more high grade at Redtree's Jack Lens q' j# F8 d& Y$ \' [, L: a
Dundee Capital Markets continues "buy", 12-month target price is $2.30$ @: V, N4 z# W A$ z" k# m5 Z
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Lockerbie & Hole (LH : TSX : $6.00)
( ~+ W1 k; b: A2 l% R4 BReleased Q3/09 results: very strong, focus should be on active backlog
j; @0 x! Y3 \. {% nGMP Securities continues "buy", 12-month target price is $9.00
0 M6 U* N9 W( o/ c4 pRaymond James maintains "market perform", 6-12 month target price is $8.25$ \% j, K1 g* H! Z& ~8 z% L; h, t
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Livingston Intl Income Fund (LIV.UN : TSX : $6.00)
, |$ M# a2 ]6 R+ ~0 B) G8 ]5 MReduced distributions by 70%) u9 p7 k( _% Z( Y
RBC Capital Markets maintains "outperform", no target price reported+ _6 m% @& {0 F; N. G; b
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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Matrikon Inc. (MTK : TSX : $2.04)
- P1 a3 m5 J: K, U! AReleased Q1/09 results: a little light, but still respectable
: W! z: ? V. p c$ M- eBMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50; L* f, ]! |* |' d8 @0 S; a. m
Paradigm Capital maintains "buy", 12-month target price is $4.00
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+ t5 i/ [+ p7 kMullen Group Income Fund (MTL.UN : TSX : $10.97)
& g) C( g3 F# m7 F) o8 i' RExpecting lower CFPU on higher taxes/ V0 l' s o) x2 y' |9 Y( S
BMO Capital Markets continues "outperform", 12-month target price is $18.008 A0 ~% C; L+ q) p* q5 ?
RBC Capital Markets continues "sector perform", 12-month target price is $12.00; S6 @6 `0 e6 v5 J) u6 Z9 M# |( x
TD Newcrest continues "buy", 12-month target price is $17.00
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+ c. b! |7 r6 H" h% X8 y1 \, ONorthgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)8 Z. v3 P# A+ |/ C h8 X5 E
Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain
9 X) C6 z8 X( cBlackmont Capital continues "hold", 12-month target price is reduced to $1.25
% L* ? s# c( W$ |, }) q4 uCredit Suisse maintains "neutral", 12-month target price is US$1.002 {/ b' n. w" J5 u
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80
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3 ]: j7 f- [: }. S6 rNeptune Tech & Bioresources (NTB : TSX-V : $0.79)
/ S2 Z6 z6 w4 x2 V+ \1 GDietary supplement business facing headwinds. }6 n3 w4 e0 h$ b$ f
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00$ l; s C' @3 a6 V
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Open Range Energy (ONR : TSX : $1.18)
, Q- |- I) d4 b! z. V( A6 X1 _ rProvided operational update and F09 guidance3 B" V7 \! H0 R7 k& _. h2 U4 _9 a. |) O
Haywood Securities continues "sector outperform", 12-month target price is $3.251 W, e* b- A! `8 I" }$ S3 \ d
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Osisko Mining (OSK : TSX : $3.13)
- Q) R; F8 c% H' b) |1 m& zSouth Barnat resource around the corner
# \5 u0 j! v& I1 o3 y% R! s/ LParadigm Capital continues "speculative buy", 12-month target price is $4.751 l. V( ^7 V6 ~& o2 a: J
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Pan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)! _( r! l6 p8 i# Y
Provided operational update9 e Y; o; t- O4 O
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.00
2 Y. ^3 \+ U$ ?' R3 d* {TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50! T0 k0 ^- i7 ~8 D* n; s( R f4 v
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Paramount Resources (POU : TSX : $7.85)
3 N( @9 X |7 l8 X# l5 i/ KProvided operational update: Grande Prairie emerging as the key focus for F09
5 O1 G! ]- g6 a B/ I: P& nGMP Securities maintains "buy", 12-month target price is $12.004 u' G/ z0 g7 m
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Rockwell Diamonds (RDI : TSX : $0.07)/ r6 K" ^9 V6 `; O( J$ G! R0 V9 Q
Operations starting to turn the corner
8 I8 ]& h! O- ^; TRBC Capital Markets maintains "outperform", no target price reported5 m# s- [" I9 H$ V( x( g% y( Y' E
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Shaw Communications (SJR.B : TSX : $20.13)9 E& e, |. g) W6 _2 i9 S1 J
Released Q1/09 results: in line, subscribers ahead
, s% {! G! n" qCredit Suisse maintains "neutral", 12-month target price is $25.503 W% g$ v8 }6 o* u- Y
GMP Securities continues "buy", 12-month target price is $26.50/ _7 B `3 x# @
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Sun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)
! k* X* ^. A% z) }4 OHeld a sell-side lunch showcasing new U.S. team
, j" F2 E, n1 K7 m0 }Scotia Capital Markets maintains "sector perform", 12-month target price is $33.005 Y% b& V9 Z L
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Trican Well Service (TCW : TSX : $6.93). Z' n/ S& f% ]/ B: E
Awarded Russian contracts
3 \( x" t3 R6 z/ z# [4 CBlackmont Capital maintains "hold", 12-month target price is reduced to $8.75
- f8 e. Q# H, S1 J2 ARaymond James maintains "market perform", 6-12 month target price is lowered to $9.00% e+ j8 S2 N' O3 T
RBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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9 P" V: L0 P! @* l; tSino-Forest Corp. (TRE : TSX : $8.93)
0 k( c* a' m' J4 S0 ?- g! ^Chinese furniture exports rose in November" J* I5 e, D: [; g) t
Dundee Capital Markets maintains "buy", 12-month target price is $23.504 F. U B+ q9 A( s; p
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UEX Corp. (UEX : TSX : $0.88)
. z7 j: P: w: P0 KShea Creek's two largest deposits have become one
' r1 g3 N8 }! {$ J- u7 ?Dundee Capital Markets maintains "buy", 12-month target price is $2.75# b$ b9 q1 o. K
0 g* W! }- a: B; l5 i( QVero Energy (VRO : TSX : $4.72)
8 y; j- d% J% ? aReleased Q4/08 results: horizontal focus to continue in F09
* d2 |& h2 W1 k- bDundee Capital Markets continues "buy", 12-month target price is $8.00/ }2 {( V8 @( D2 X( b2 [9 n
GMP Securities continues "buy", 12-month target price is $7.502 n/ M$ j: _, x/ P9 I5 Y2 Q
Paradigm Capital continues "buy", 12-month target price is $12.00
& r5 M* F2 t9 Z/ A5 w7 P+ eRBC Capital Markets maintains "outperform", 12-month target price is $8.50
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# ^4 G, b, d* D# I' YWi-Lan Inc (WIN : TSX : $1.75)- x: L( J! Q. D; V8 F4 g
Hit homerun with Samsung
- u3 e; c9 g# {, _Paradigm Capital continues "buy", 12-month target price is $3.50 |
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