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Ear on the Street --- Jan. 16 20095 {9 ?7 D( K/ R
$ f$ a2 B0 S1 e2 H6 I" EAbsolute Software (ABT : TSX : $3.36)
) ]9 n" Q% J7 K+ f" XBracing for a tough few quarters, B- Z& y. p8 C
Canaccord Capital maintains "hold", 12-month target price is $4.50
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+ ? R* e5 U) u0 [' mBarrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)3 M. G" f h" T" }
Growth outlook, challenging pipeline and high cost structure make future unclear
& V5 ~3 @! Z( bBlackmont Capital continues "hold", 12-month target price is lowered to $48.000 w! \% G$ l+ U( K
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00" _( k& N: h& w5 |
4 b) b( b- [$ `# T# k" dAstral Media (ACM.A : TSX : $22.98)$ {1 N6 {) K1 l* z3 l* @- m
Released Q1/09 results: strong, in light of challenging operating environment/ w+ m. }7 ^) R7 ?4 C
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00& i+ D( p* B0 G; b- S4 L
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00
; g+ X: G% Q. ^2 G4 e5 CGMP Securities maintains "buy", 12-month target price is reduced to $30.00
+ `/ w4 M0 | c2 a) i. j5 u) URBC Capital Markets continues "outperform", 12-month target price is raised to $31.00
( c- E1 y$ o" ?8 f' E( rScotia Capital Markets continues "sector outperform", 12-month target price is $30.00
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2 m# z! }3 H( M1 c$ }: tAgnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)
7 _8 ^ X$ V6 W; z% e/ @6 tWell positioned with gold production forecast to double this year and next. P; v- ?" J9 \3 O. J) D1 M
Blackmont Capital continues "buy", 12-month target price is lowered to $83.00" W* ?' J& Y3 Z& M8 a
TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00- i: N2 ]: k; g% a3 P+ N
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ARC Energy Trust (AET.UN : TSX : $17.15). |+ \: E7 o! p. n: V
Reduced distributions by 20%; capex also cut
/ ^( F) I6 {- \. kRBC Capital Markets continues "outperform", 12-month target price is $19.00
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# w* P" x" r5 ~. t0 t- G. K' IAndean Resources (AND : TSX : $0.75)3 x# d+ t% r% [' i6 H
Announced F09 outlook# {6 W& W' y6 e
Paradigm Capital continues "speculative buy", 12-month target price is $2.25
) t, o9 c; o0 K i$ ?TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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Bombardier Inc. (BBD.B : TSX : $4.65) s3 V. R; ^7 B
Rising challenges in Aerospace
' Y8 ?5 O) c+ A: f8 V# g- ^/ w$ UGMP Securities continues "buy", 12-month target price is $8.006 B/ O3 I, e7 a1 o
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Bank of Montreal (BMO : TSX : $31.84): d0 j, x; I, B7 F4 l; x2 |
Acquiring AIG's Canadian life insurance business
$ g9 N2 B" s: o5 ]# r. q) pTD Newcrest continues "hold", 12-month target price is $37.007 f4 k' { C% j2 H1 R
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Cogeco Cable (CCA : TSX : $33.37)" W- I1 n; E3 `( d
Q1 review: Canada results encouraging, but Portugal remains a drag
* Q( |8 j R& ~" Y$ T$ ^% ^BMO Capital Markets maintains "outperform", 12-month target price is $46.00
# Y$ B4 v7 Z7 d+ X5 M$ }* ]Desjardins Securities continues "top pick", 12-month target price is $40.00
4 \+ n3 ^& m9 U2 _0 i2 _2 C3 kRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00
- R8 w1 \& H9 P4 t# bScotia Capital Markets continues "sector outperform", 12-month target price is $55.00! @) r C& k3 l* O5 B1 l
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Corridor Resources (CDH : TSX : $2.45)
' M0 b) B1 f3 y- s* R- R0 g, o' c# [Capital budget set to expected cash flow; production guidance lowered6 t1 y9 s6 j, _: K" y! C) n
RBC Capital Markets maintains "outperform", 12-month target price is $4.252 z q$ j6 R; l, i
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COGECO Inc. (CGO : TSX : $25.14)
* x) A3 x; k& A% v; }6 YStrong radio and cable drives 39% EPS growth
/ l- P4 o% |5 M3 `* X- EScotia Capital Markets continues "sector perform", 12-month target price is $45.00# w. @; D. R4 l, |9 F
D8 u& q" u8 r3 B) f% `+ CCanWest Global Communications (CGS : TSX : $0.51) E( G% O9 d1 i I
Taking action to address tough operating environment1 a& W# x0 K8 i+ ^# n- e7 F
BMO Capital Markets maintains "underperform", no target price reported
3 u/ ~, H& l3 {4 |, {# C) uCredit Suisse maintains "neutral", 12-month target price is $1.00 ^8 T/ {6 w5 C. R. r# e
GMP Securities continues "reduce", 12-month target price is $0.50
Y: `! J3 w$ f$ WRBC Capital Markets continues "underperform", 12-month target price is $0.755 U5 J7 I9 z6 L$ m+ m" h. {
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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5 A% N; X3 S/ U6 D% o$ M. T( j+ h& b0 ]Corus Entertainment (CJR.B : TSX : $12.47)
$ D7 f8 L, E( z A1 QQ1 revenues in line, EPS beat+ X+ e4 h0 X" s/ i
BMO Capital Markets continues "market perform", 12-month target price is cut to $15.00
7 H* x/ H. m7 |& ]! k) vCredit Suisse continues "outperform", 12-month target price is $20.00
7 O( K5 [4 T. @( A! |Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00/ S: k. F" D& p2 x" u. w2 ?
GMP Securities maintains "buy", 12-month target price is reduced to $17.00
9 N' k. G2 l, ^, ?RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50
: `" W& Q2 Z' a. W6 b) UScotia Capital Markets continues "sector outperform", 12-month target price is $18.004 N" D* C8 x$ ?+ o$ c I/ y
7 f0 g+ b& G- W5 e# H1 RCalloway REIT (CWT.UN : TSX : $11.84)9 v; m: p' N* X6 o; T! D
Held investor day* o# \. M1 x' c: V) n
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00
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) w2 G) e- n- F* j) fDaylight Resources Trust (DAY.UN : TSX : $7.77)
! U/ K: P# u6 i: }+ }9 i% UReduced distributions by 38%; guided for lower capex
: i) v3 Q* E# U# R, i! }- SBMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.007 K r8 n6 U, Y, G% ~3 [% p* Y5 d
Dundee Capital Markets continues "buy", 12-month target price is $12.00- u+ M5 [5 J/ @9 ?: b
TD Newcrest continues "hold", 12-month target price is $7.50
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2 C( v' H$ v! j6 R; HEXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)
* n. I- Y& m. p0 D7 ^! J4 K0 }- ~Steady market and currency tailwind
5 S7 \2 [4 y ?' _$ uTD Newcrest maintains "buy", 12-month target price is US$5.00
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Goldcorp Inc. (G : TSX : $29.74)
& a. Q: F# j: K n8 q \" X! H1 nRevised commodity forecasts
4 Y3 H- m m& Y3 d& HBlackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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Heritage Oil (HOC : TSX : $3.77)
8 o+ s( q, t; X1 j3 }2 OAnnounced Ugandan commerciality on exploration success
' X( b' y/ `& \: Y% M/ g BTD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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Harry Winston Diamond (HW : TSX : $4.98)+ ~/ ~, w! [- {! |
Retail division suffers. J5 N! }( O# V
Desjardins Securities maintains "buy", 12-month target price is $12.60
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Laramide Resources (LAM : TSX : $1.84)
& u5 w. O; D: }. \ J! Z" y" KWestmoreland provided more high grade at Redtree's Jack Lens
# q9 w/ o/ c. D* G w/ c: SDundee Capital Markets continues "buy", 12-month target price is $2.30
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Lockerbie & Hole (LH : TSX : $6.00)
9 s8 x2 k; z; R: a0 [3 g& dReleased Q3/09 results: very strong, focus should be on active backlog
n v' @- ]) |$ N9 UGMP Securities continues "buy", 12-month target price is $9.00
. \: c Y# F8 C: _Raymond James maintains "market perform", 6-12 month target price is $8.25
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, p/ D! T- p0 R' ?1 aLivingston Intl Income Fund (LIV.UN : TSX : $6.00)3 H/ S3 M0 V0 |* @5 q
Reduced distributions by 70%0 f& q% ~ C3 Y- l) S
RBC Capital Markets maintains "outperform", no target price reported% o8 V# c6 I) H8 m: v3 u5 V
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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Matrikon Inc. (MTK : TSX : $2.04)9 T$ g2 T4 _- [& K7 I, `" H
Released Q1/09 results: a little light, but still respectable" H5 ]- a2 \/ }# Z
BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.504 W. x3 @ U0 U
Paradigm Capital maintains "buy", 12-month target price is $4.00
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)
9 J) s, ]+ {8 k7 O- x, bExpecting lower CFPU on higher taxes. t0 w' D! [+ d2 m
BMO Capital Markets continues "outperform", 12-month target price is $18.00
* F: E K8 M# G- r( C8 jRBC Capital Markets continues "sector perform", 12-month target price is $12.00. F9 _2 \) v3 D( `# V
TD 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)
2 @+ k+ n0 \% F2 r, q8 N: SReleased Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain! v1 C9 |( P" L
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25# @) h; t, h) r/ H4 c$ f
Credit Suisse maintains "neutral", 12-month target price is US$1.00
6 c1 [- `5 k& d+ _/ b/ [Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80 d( p" a8 k1 g6 a# ?1 v4 C( U
. e& V6 E2 g' ^1 `Neptune Tech & Bioresources (NTB : TSX-V : $0.79)
3 A) k5 c$ T9 s& H0 IDietary supplement business facing headwinds
6 Q+ z, n( ]: A1 y# gParadigm Capital maintains "buy", 12-month target price is reduced to $4.00
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Open Range Energy (ONR : TSX : $1.18)
; ^+ H8 @4 T0 `8 b7 dProvided operational update and F09 guidance
9 E. Z8 g+ o/ n T9 F+ W- @Haywood Securities continues "sector outperform", 12-month target price is $3.25+ U( }; {6 U5 k4 C0 Q
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Osisko Mining (OSK : TSX : $3.13)2 S* n4 t; P# a$ g( W F1 f Q
South Barnat resource around the corner/ n& i; o4 s/ o3 V# T0 Q) i
Paradigm Capital continues "speculative buy", 12-month target price is $4.75* w0 [6 m5 K3 [2 G! q+ r$ C
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Pan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)
3 S" C; ]3 ?' X; j& F) XProvided operational update+ P, h4 v8 k1 p/ Q
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.003 L; o m5 N! i, s
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.500 W! p t% X5 c
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Paramount Resources (POU : TSX : $7.85)" W1 X: N- Z9 c4 C& _5 P% D* g
Provided operational update: Grande Prairie emerging as the key focus for F09
# L8 _0 a/ c& t, E' F/ jGMP Securities maintains "buy", 12-month target price is $12.00
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Rockwell Diamonds (RDI : TSX : $0.07)
( |% G) k7 k nOperations starting to turn the corner
' r# [0 `7 d, p% C( G' P! eRBC Capital Markets maintains "outperform", no target price reported
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5 d4 i' ^. Z3 t$ dShaw Communications (SJR.B : TSX : $20.13)5 U- C% ~5 R1 q4 V
Released Q1/09 results: in line, subscribers ahead- J6 |0 {5 V' V% R( w& H) X: |& D' B
Credit Suisse maintains "neutral", 12-month target price is $25.50 l6 @* G6 C- g J* k$ a" g
GMP Securities continues "buy", 12-month target price is $26.50
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- Q: r# B! d- P! C* k0 b2 O3 c4 G7 l) ZSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)! {/ Z4 J d- u4 H, q" M8 r0 {
Held a sell-side lunch showcasing new U.S. team' S3 E3 a% X; F2 z* D% o: t7 a
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.002 x5 l$ P4 Z1 A4 d3 r
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Trican Well Service (TCW : TSX : $6.93) `; b, d; O2 r& M9 l* S6 G
Awarded Russian contracts: D2 x$ O& X6 ^
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.753 b9 j: j5 U) x. E8 Q
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00. {1 K& X$ o. z. H
RBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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1 `9 d) s8 h5 [. n; \% SSino-Forest Corp. (TRE : TSX : $8.93)
% M) F; p# {2 S( N5 E. ZChinese furniture exports rose in November4 z5 C1 H7 a3 I+ U
Dundee Capital Markets maintains "buy", 12-month target price is $23.50
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UEX Corp. (UEX : TSX : $0.88)
9 b, u, M$ w# W$ p zShea Creek's two largest deposits have become one
^! z# i' `/ e6 I3 E3 T; aDundee Capital Markets maintains "buy", 12-month target price is $2.75
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% V# |4 L2 o1 c3 {6 N# F8 T/ Z' aVero Energy (VRO : TSX : $4.72)
5 w+ T$ \7 p: s3 B5 ~+ DReleased Q4/08 results: horizontal focus to continue in F09
5 r# I9 k1 v8 r5 q0 o3 eDundee Capital Markets continues "buy", 12-month target price is $8.00
. E, H% O. j8 j# m3 j6 X) QGMP Securities continues "buy", 12-month target price is $7.50. t1 s' b9 A9 M. t
Paradigm Capital continues "buy", 12-month target price is $12.00
^, y! j: U. P) R3 N" I# _' xRBC Capital Markets maintains "outperform", 12-month target price is $8.50) G7 \5 A' s; z+ }9 x$ d+ ^& J
5 W, ~4 O, Y& {' U7 U A2 GWi-Lan Inc (WIN : TSX : $1.75)
# ]: }' J" L; }; p FHit homerun with Samsung& i3 C# B* g6 Z6 O) T7 N4 |% a
Paradigm Capital continues "buy", 12-month target price is $3.50 |
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