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Ear on the Street --- Jan. 16 20098 r' l$ s8 G! T$ `# k; }7 |+ o* I
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Absolute Software (ABT : TSX : $3.36)
9 T- A) v4 U& I2 G4 `# Z# ?# G" dBracing for a tough few quarters2 U9 P- [4 A" H P7 [
Canaccord Capital maintains "hold", 12-month target price is $4.504 R' \; `9 W# Y+ t' E: k" }
L. t6 \; P( B U( p: [, V- PBarrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)
7 N3 H4 f3 Z. b2 j/ sGrowth outlook, challenging pipeline and high cost structure make future unclear6 S! @" T/ ^" I1 z3 I
Blackmont Capital continues "hold", 12-month target price is lowered to $48.00$ k* `1 J2 V2 L* \; [- |( [0 g
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00
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Astral Media (ACM.A : TSX : $22.98)7 b( v3 M; G& p) T
Released Q1/09 results: strong, in light of challenging operating environment
( M1 |8 q( z i# J6 tBMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00
& n v4 R% B( B( V6 ]' VDesjardins Securities maintains "buy", 12-month target price is slashed to $28.00* B3 o( x0 D& O) D
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
h X/ ]0 J$ W" QRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00
" C9 g5 R5 e+ q: D/ QScotia Capital Markets continues "sector outperform", 12-month target price is $30.00% D5 Q1 U# q6 e$ Q
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Agnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)9 S1 s& T `$ y. t w) p7 P
Well positioned with gold production forecast to double this year and next5 ?4 b r( C, t/ L' c# E5 R
Blackmont Capital continues "buy", 12-month target price is lowered to $83.00. o2 N& l; a2 J3 Q$ f) v
TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00
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6 ]9 I: R" X* }ARC Energy Trust (AET.UN : TSX : $17.15)
$ c- j) d# e1 C1 Q% b s" O) w/ pReduced distributions by 20%; capex also cut: z+ @0 S+ `! R; _2 U
RBC Capital Markets continues "outperform", 12-month target price is $19.00
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; ]0 z+ d! Z$ ~9 cAndean Resources (AND : TSX : $0.75)
: B+ l8 ~1 }* W3 }; L, _, ?6 `Announced F09 outlook. p, I1 u2 C, S. q& G! w& |. Q4 N+ A
Paradigm Capital continues "speculative buy", 12-month target price is $2.25# B; j$ x: r/ b; g* @
TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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. I( B6 w7 W1 gBombardier Inc. (BBD.B : TSX : $4.65)
3 Z- g7 t. }. S( l" r( TRising challenges in Aerospace& Q! q9 @, a, [$ u
GMP Securities continues "buy", 12-month target price is $8.00( E/ G2 Y+ }2 L) l4 @# v1 a
0 m; A8 ]& y1 N* z3 F% A: A% x, PBank of Montreal (BMO : TSX : $31.84)" `) A% _' e5 F: ^* X+ |
Acquiring AIG's Canadian life insurance business
: e: \0 }/ Y, ATD Newcrest continues "hold", 12-month target price is $37.00 H4 t" e& }$ V* |7 y0 {) U
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Cogeco Cable (CCA : TSX : $33.37)9 Y q9 M- v3 l9 A! G" R4 N
Q1 review: Canada results encouraging, but Portugal remains a drag/ w0 V0 Q4 U5 @- ~
BMO Capital Markets maintains "outperform", 12-month target price is $46.00
! a9 @6 `/ K4 N+ hDesjardins Securities continues "top pick", 12-month target price is $40.00
- e! _( K: A( Q+ oRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00& n( ^- G0 Y6 w: F1 v" l
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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( W. i1 Y& A- z0 u+ UCorridor Resources (CDH : TSX : $2.45)3 v5 c* ^/ B8 _1 ~- j# [
Capital budget set to expected cash flow; production guidance lowered
- ~. H4 ]: y) T2 i1 [# V3 uRBC Capital Markets maintains "outperform", 12-month target price is $4.25& @: l$ b- ]) w" ~) u$ |% V
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COGECO Inc. (CGO : TSX : $25.14)
! \7 U6 t- R+ _: mStrong radio and cable drives 39% EPS growth* N3 g' p! e( U( \3 T6 g
Scotia Capital Markets continues "sector perform", 12-month target price is $45.00
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CanWest Global Communications (CGS : TSX : $0.51)( H0 p2 [2 X) X/ }
Taking action to address tough operating environment' @1 S: r" h( [- P
BMO Capital Markets maintains "underperform", no target price reported$ z9 ?& p K; |% [7 }" t! t. Z
Credit Suisse maintains "neutral", 12-month target price is $1.00' N/ [6 I) w+ `" e+ c/ P
GMP Securities continues "reduce", 12-month target price is $0.50, C7 p6 @# }; T! B% u
RBC Capital Markets continues "underperform", 12-month target price is $0.75: ^3 p+ I: I' R
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50" ~2 u! v5 I' F
. q7 h& V9 @# p" }7 y' pCorus Entertainment (CJR.B : TSX : $12.47); B# J; u2 L" n n
Q1 revenues in line, EPS beat
, Q" C d1 x$ A. G3 rBMO Capital Markets continues "market perform", 12-month target price is cut to $15.00* C) @+ o5 C! F- U8 z
Credit Suisse continues "outperform", 12-month target price is $20.001 s5 s& S, h+ X4 C$ X5 U' V, \
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00
+ l/ ?+ R; l! V/ W) W1 m1 k" jGMP Securities maintains "buy", 12-month target price is reduced to $17.00
$ ]. s: j# C5 Q/ ^# ARBC Capital Markets maintains "outperform", 12-month target price is raised to $18.502 m' m J9 I2 M2 u2 b4 W4 p
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00' }: _$ [0 n% {; z
) P& I) z( ^- Q" U! mCalloway REIT (CWT.UN : TSX : $11.84)+ u! u! w+ L# ?+ {9 N6 z' L! p
Held investor day& I9 n. G' L( @8 |0 H+ l2 ]0 T
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00. N2 l9 n# o; w7 h: d1 q1 {; _
3 O! \$ f# G. r w7 t, n2 BDaylight Resources Trust (DAY.UN : TSX : $7.77)' q7 J4 E6 X% c! P/ ^: u
Reduced distributions by 38%; guided for lower capex% G' r0 _1 O) W8 R; d* n6 C
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.009 u0 g# a' j* V# Q4 E. k
Dundee Capital Markets continues "buy", 12-month target price is $12.00' S8 A4 a3 b) h1 ?0 n1 y* o9 a
TD Newcrest continues "hold", 12-month target price is $7.50# j- L8 R- Q: `: u2 D# F% v8 f
. B/ L6 N. a4 q0 v8 B& B8 Z& i1 wEXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)2 _* ]. w' D- ]
Steady market and currency tailwind
5 H. L. p4 A0 W3 ATD Newcrest maintains "buy", 12-month target price is US$5.00
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Goldcorp Inc. (G : TSX : $29.74)
- V! C1 F- U t+ a J! CRevised commodity forecasts
9 \# U1 T; K# N. B9 u0 H6 ~Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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# \! x$ v* y* B4 Y) WHeritage Oil (HOC : TSX : $3.77)% D4 |' F' w4 ^9 Z) V k8 v
Announced Ugandan commerciality on exploration success0 R# ]0 v& a& n
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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0 x) ~8 C, Q5 C5 p/ g* _Harry Winston Diamond (HW : TSX : $4.98)
* j9 H' u3 u- a" {/ d6 ZRetail division suffers
$ H, ?- U, M* N* W6 [' Y5 yDesjardins Securities maintains "buy", 12-month target price is $12.607 X7 W# F. s3 W: e
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Laramide Resources (LAM : TSX : $1.84)3 z4 y, x) _. H# h$ `1 q
Westmoreland provided more high grade at Redtree's Jack Lens
+ L0 D4 I# {4 `Dundee Capital Markets continues "buy", 12-month target price is $2.30: D; n* p3 s1 {/ `) @2 S
3 w" v% E' i' i4 \: a4 {4 rLockerbie & Hole (LH : TSX : $6.00)6 R! t. r- s5 @+ X. u. R
Released Q3/09 results: very strong, focus should be on active backlog1 S5 |6 q% w1 {4 I4 F
GMP Securities continues "buy", 12-month target price is $9.00' s# `1 P) H2 G2 p
Raymond James maintains "market perform", 6-12 month target price is $8.25
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4 y4 ^# i8 L+ B; w6 z; V% TLivingston Intl Income Fund (LIV.UN : TSX : $6.00): l! O( I9 P8 u' h
Reduced distributions by 70%
/ ?1 H) y P8 N" ~/ ]& ?3 BRBC Capital Markets maintains "outperform", no target price reported; c! W# c3 Z; v! C( @* a3 h
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50& o; |' G* {% S4 z
/ }6 b( Z) R! r7 n) }) D- @Matrikon Inc. (MTK : TSX : $2.04)
6 K& n7 H- S' ?2 @0 ^$ w1 LReleased Q1/09 results: a little light, but still respectable
4 l! t% p1 w3 m- [* n; w f% U9 SBMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50
2 ]1 @- t& N6 x; zParadigm Capital maintains "buy", 12-month target price is $4.00; f0 W: x0 t1 j+ s6 c" {/ ]0 @
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)
' k3 q6 U) r: x) K9 V- h% hExpecting lower CFPU on higher taxes
G6 e: T4 O. f' k& YBMO Capital Markets continues "outperform", 12-month target price is $18.006 F# A: e/ c/ ?$ o" }( r6 D
RBC Capital Markets continues "sector perform", 12-month target price is $12.00# ?% p! c. _9 c9 G: E
TD Newcrest continues "buy", 12-month target price is $17.00" q1 z! A: }1 E
6 @& ^+ q0 S+ n$ W3 p6 m0 u9 {Northgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)) d+ s7 ~# U; }' ]
Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain5 S& u( b7 W9 \5 B6 K
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25
( P, l( L# _5 Z R( s' | S. n8 nCredit Suisse maintains "neutral", 12-month target price is US$1.00
4 t( R! o( \1 a) M8 I) kScotia 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)+ O( r1 z: u( W+ d; W+ g- G
Dietary supplement business facing headwinds
7 J7 q, A5 W0 W& _/ q) IParadigm Capital maintains "buy", 12-month target price is reduced to $4.00
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Open Range Energy (ONR : TSX : $1.18)
, Y$ k" g2 f" fProvided operational update and F09 guidance
" O" Y- [- O" [6 F y7 EHaywood Securities continues "sector outperform", 12-month target price is $3.25
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Osisko Mining (OSK : TSX : $3.13)
! |- J) N) j5 D5 I; A5 {1 r9 ~0 sSouth Barnat resource around the corner
0 p. `# u$ B! q! qParadigm 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$13.75)
! z2 d, q; H0 i2 u8 ?: GProvided operational update9 W! a% ]. I# Q+ I; N$ [
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.00
0 y; V5 B% j; d& Y; G, HTD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50, V$ Z) U! _, E* |
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Paramount Resources (POU : TSX : $7.85)
; x# \+ v _# ?! ~" WProvided operational update: Grande Prairie emerging as the key focus for F097 V2 h. M4 g) r% Q
GMP Securities maintains "buy", 12-month target price is $12.00
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Rockwell Diamonds (RDI : TSX : $0.07)
( W2 _2 c1 V1 KOperations starting to turn the corner# L7 y/ S5 s$ u) e: Y" Q1 @& c6 g6 H
RBC Capital Markets maintains "outperform", no target price reported
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Shaw Communications (SJR.B : TSX : $20.13)7 m9 C) U# q4 z5 ]; g' U6 e4 s
Released Q1/09 results: in line, subscribers ahead3 y- Z- Q6 |8 r* {% x: E
Credit Suisse maintains "neutral", 12-month target price is $25.506 S% v- C4 Q4 W" k( M
GMP Securities continues "buy", 12-month target price is $26.50
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Sun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)- u2 T0 S! ~* m4 c3 s
Held a sell-side lunch showcasing new U.S. team% G, m$ @: ~- ?2 c
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.00 y( W" Z9 D$ k" O h
: _+ }1 S4 h4 |Trican Well Service (TCW : TSX : $6.93)
# Y. A) ^* g; o+ c0 C5 iAwarded Russian contracts( R6 A1 w8 V/ g5 p1 i' v
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75
$ S9 c$ \$ ^/ @2 QRaymond James maintains "market perform", 6-12 month target price is lowered to $9.00
3 k% C( l5 S: G) `, L6 u0 KRBC Capital Markets maintains "sector perform", 12-month target price is $10.00$ Y' z9 T( }, r/ t o j
4 H0 S& Y4 K. y" ~Sino-Forest Corp. (TRE : TSX : $8.93)6 Y3 Q7 N) K }
Chinese furniture exports rose in November+ F+ _- }0 b- b
Dundee Capital Markets maintains "buy", 12-month target price is $23.50
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+ [2 F4 d4 `8 ]! M. X0 h! dUEX Corp. (UEX : TSX : $0.88)
; O) b2 H: H+ p+ YShea Creek's two largest deposits have become one9 [- b: y4 y0 ^6 \
Dundee Capital Markets maintains "buy", 12-month target price is $2.75! p, Y( g" e( p9 a8 w
5 {8 J* C" R" G) e% C! bVero Energy (VRO : TSX : $4.72)& o/ _/ e: |- B& B P4 _
Released Q4/08 results: horizontal focus to continue in F09- `' P% ]$ s" Y3 X
Dundee Capital Markets continues "buy", 12-month target price is $8.00
, p3 w+ E) j2 v/ Y6 xGMP Securities continues "buy", 12-month target price is $7.50
2 P( Z6 O" x0 c6 ~! \$ @$ K+ {Paradigm Capital continues "buy", 12-month target price is $12.00& X( t* E7 M, m( o
RBC Capital Markets maintains "outperform", 12-month target price is $8.50" i" }! r2 G3 }7 V" d* m( r7 b
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Wi-Lan Inc (WIN : TSX : $1.75)
$ ~: c' [% Y3 T- H. JHit homerun with Samsung+ \5 j: j9 ~* E1 l
Paradigm Capital continues "buy", 12-month target price is $3.50 |
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