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Ear on the Street --- Jan. 16 2009 G% ]* E) h: [3 u8 K; p% H
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Absolute Software (ABT : TSX : $3.36)9 z* L# \4 a. a
Bracing for a tough few quarters, j, @( z& U9 { l- _5 @
Canaccord Capital maintains "hold", 12-month target price is $4.50: a" J5 I" {( ]
: S2 v8 Y6 g7 S7 P6 ~Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)
m. V7 [# [% e8 N/ h0 J, AGrowth outlook, challenging pipeline and high cost structure make future unclear }$ X" I: h: ~; u* [
Blackmont Capital continues "hold", 12-month target price is lowered to $48.00
. }3 o7 b$ ^. ^ hTD 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)
M) ]1 h! ]/ t( `# }+ d5 UReleased Q1/09 results: strong, in light of challenging operating environment, n( q. N G% R5 a
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.009 I7 X, ]8 c" f
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00% J/ T* |% Z' d: A$ i
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
3 L+ L8 g& ?0 u0 w% cRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00
8 x% i7 Y3 L. {1 CScotia Capital Markets continues "sector outperform", 12-month target price is $30.00
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4 ]+ o. h; C' p. IAgnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)7 p4 m- Q) _7 k# m' x
Well positioned with gold production forecast to double this year and next
2 l% s! K2 @$ k; b9 P5 c/ a5 wBlackmont Capital continues "buy", 12-month target price is lowered to $83.000 c% n7 ]& s3 f" B2 L
TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00
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5 m7 O/ [* H0 @4 G- zARC Energy Trust (AET.UN : TSX : $17.15)
a0 [2 A, W0 D8 I, f3 L! kReduced distributions by 20%; capex also cut+ V* ]' f3 g/ J# s( @
RBC Capital Markets continues "outperform", 12-month target price is $19.00$ t0 U8 R9 W) M* e/ T3 U
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Andean Resources (AND : TSX : $0.75)
2 z/ | N& W+ _; N( N( t; W$ N4 b$ ^2 QAnnounced F09 outlook! s+ b- h/ X2 W; R( d, s$ m
Paradigm Capital continues "speculative buy", 12-month target price is $2.25
, J: G, c: H: A6 r( Y; e+ {! iTD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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Bombardier Inc. (BBD.B : TSX : $4.65)
* _9 f( ~5 ~9 M2 x: wRising challenges in Aerospace$ u' O/ i6 N) l# |" J
GMP Securities continues "buy", 12-month target price is $8.00
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Bank of Montreal (BMO : TSX : $31.84). c. }' p9 u4 I5 j( K( E6 {
Acquiring AIG's Canadian life insurance business, d/ j* }/ b9 J7 Y. o4 ~& O
TD Newcrest continues "hold", 12-month target price is $37.002 B# k# o8 { Q
% a1 b$ Q* f6 n5 M E4 ]* }Cogeco Cable (CCA : TSX : $33.37)
2 h- Z. x* c$ ?% m) P0 X; xQ1 review: Canada results encouraging, but Portugal remains a drag! E# K! J8 ~# b( K/ @( N
BMO Capital Markets maintains "outperform", 12-month target price is $46.00
% k/ i9 v6 ?% s- b! ~Desjardins Securities continues "top pick", 12-month target price is $40.00
6 T% b5 M% r$ f+ `1 [; vRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00
+ {3 D- ]0 `( j7 x9 MScotia Capital Markets continues "sector outperform", 12-month target price is $55.00) Q7 A/ H- I! o: r9 n
* U$ F5 D. b" p( r; ?Corridor Resources (CDH : TSX : $2.45) {1 X& `3 B, |6 P# Z' c* p8 G
Capital budget set to expected cash flow; production guidance lowered
- e: G; V- z& Z# YRBC Capital Markets maintains "outperform", 12-month target price is $4.25
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COGECO Inc. (CGO : TSX : $25.14)
% G( ?, R6 A! m, l8 h- U9 A/ CStrong radio and cable drives 39% EPS growth
: W( L6 e, }! Y4 S$ jScotia Capital Markets continues "sector perform", 12-month target price is $45.00! @/ @& {9 F4 O8 K+ @
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CanWest Global Communications (CGS : TSX : $0.51)5 a1 g6 x5 Y4 y; I* \$ X& s
Taking action to address tough operating environment
9 ]8 H. D5 {: e0 b, S; @5 pBMO Capital Markets maintains "underperform", no target price reported& \2 M) n, B* _' S b+ _7 _( Z
Credit Suisse maintains "neutral", 12-month target price is $1.001 d3 Z% G4 ?, ]3 t+ t2 t
GMP Securities continues "reduce", 12-month target price is $0.50: T+ ~9 c3 h3 S8 A4 p* v
RBC Capital Markets continues "underperform", 12-month target price is $0.75( F- @1 c5 Q9 H! D* F
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50' a& u l1 N9 z0 D6 g4 L/ \3 d
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Corus Entertainment (CJR.B : TSX : $12.47)
6 ]/ @! T( U( MQ1 revenues in line, EPS beat
8 Y* _4 y, E* M5 rBMO Capital Markets continues "market perform", 12-month target price is cut to $15.00
+ H5 p1 T) f5 }7 e; ^* @+ cCredit Suisse continues "outperform", 12-month target price is $20.00
5 M: p7 d' v( m* qDesjardins Securities maintains "buy", 12-month target price is lowered to $15.00
% X% K& H& [4 N% u4 g3 V, vGMP Securities maintains "buy", 12-month target price is reduced to $17.005 ^2 _6 J$ A6 [5 H- C- n
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50/ |6 F3 u3 C9 g* u R
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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4 @. Q/ @) h- v3 B$ Y3 \5 MCalloway REIT (CWT.UN : TSX : $11.84)% q$ @# E: z. c( K/ C. u; K! O
Held investor day
# y5 Z+ v' i3 K* b0 ]7 FScotia Capital Markets maintains "sector underperform", 12-month target price is $11.00
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Daylight Resources Trust (DAY.UN : TSX : $7.77)* |2 G* d* t* ~# f" j8 m- W
Reduced distributions by 38%; guided for lower capex; y. I" u2 w5 v& d( U$ {1 z
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00
" p* `2 R& S( _/ BDundee Capital Markets continues "buy", 12-month target price is $12.00
0 m$ q2 o9 c; M( [7 z) [% P/ ITD Newcrest continues "hold", 12-month target price is $7.50% k5 B4 {( x+ {) q
4 X( [+ R; e# ^; s7 n mEXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)
. [6 z4 y5 E9 b- KSteady market and currency tailwind
* V' C! _- A! Z& e7 vTD Newcrest maintains "buy", 12-month target price is US$5.00& s- c& {- f1 c w s
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Goldcorp Inc. (G : TSX : $29.74)
' D, i' D' V1 i" gRevised commodity forecasts/ L* p' x# X1 R( D+ W
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.009 o0 y4 S* M: k* F1 E# V0 O
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Heritage Oil (HOC : TSX : $3.77) }& X s6 v8 z% D
Announced Ugandan commerciality on exploration success
4 j, {% d' {0 ]) D% i+ }! z. QTD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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+ b z# v$ r5 @7 b9 s0 D% i5 z" ]" ~Harry Winston Diamond (HW : TSX : $4.98)3 ]" [ \4 z4 k; U3 ~$ V
Retail division suffers
, r; ^4 y$ \- W/ x. ]9 N3 k$ l& qDesjardins Securities maintains "buy", 12-month target price is $12.60
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Laramide Resources (LAM : TSX : $1.84)& O& e5 [& }, V6 M+ l
Westmoreland provided more high grade at Redtree's Jack Lens
, D1 Z* O Z( @8 d- \8 b9 uDundee Capital Markets continues "buy", 12-month target price is $2.30
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Lockerbie & Hole (LH : TSX : $6.00); }7 V7 m, |# o# \: |
Released Q3/09 results: very strong, focus should be on active backlog* U0 T7 `. i. ?' ]" t
GMP Securities continues "buy", 12-month target price is $9.00
R" |2 s, s6 ]: l3 B, I9 [1 DRaymond James maintains "market perform", 6-12 month target price is $8.256 Q8 N( ]! q- i( O5 t
! ^0 J9 }- @4 u- t: P: v+ C" h# iLivingston Intl Income Fund (LIV.UN : TSX : $6.00)
8 \$ F' m: Q3 @ mReduced distributions by 70%
! N2 @2 g# C1 KRBC Capital Markets maintains "outperform", no target price reported' ?/ s" |; V& q% H1 e7 J" u& |
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50' T" U3 _5 M+ `8 u9 W
+ G5 w: q0 Q' c' HMatrikon Inc. (MTK : TSX : $2.04)) ^+ B7 b$ @1 ~* g/ H9 G0 B
Released Q1/09 results: a little light, but still respectable
- D( }+ h6 p! n* B+ L% p5 G, D# VBMO Capital Markets continues "outperform", 12-month target price is lowered to $2.507 X+ H( k( R5 |1 s @# L
Paradigm Capital maintains "buy", 12-month target price is $4.00/ t$ a# L6 ?+ Y. G) x3 t
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Mullen Group Income Fund (MTL.UN : TSX : $10.97) ]! |# q6 x7 O
Expecting lower CFPU on higher taxes
' ~, c7 F2 \8 W# \( F1 bBMO Capital Markets continues "outperform", 12-month target price is $18.00
) ~" `1 J- }4 y- P# `: p" VRBC Capital Markets continues "sector perform", 12-month target price is $12.006 e* p- ~( Y; c5 S3 ?) u! M$ p/ x( X
TD Newcrest continues "buy", 12-month target price is $17.00
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) a. U; z4 q/ J( ENorthgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)
4 G s; P! R% b/ ^, gReleased Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain) k2 }& ~0 ~# t6 X
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25
9 |8 t: u, |7 ?8 ]Credit Suisse maintains "neutral", 12-month target price is US$1.00
! o, ^( Q+ R( y- L \" hScotia Capital Markets continues "sector underperform", 12-month target price is US$0.80
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Neptune Tech & Bioresources (NTB : TSX-V : $0.79)
7 a& b9 F' t( U7 I _1 PDietary supplement business facing headwinds0 z( l, }$ [. M% H' }
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.005 ?# q6 C4 O4 T8 q! _& k
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Open Range Energy (ONR : TSX : $1.18)
+ d& h+ b5 q4 uProvided operational update and F09 guidance
, K1 v, n% h5 _% e9 u* p) I6 H: mHaywood Securities continues "sector outperform", 12-month target price is $3.25
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Osisko Mining (OSK : TSX : $3.13)4 t6 B& [7 Y [) \
South Barnat resource around the corner9 Y1 w6 g# x1 I. X. [ d
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$13.75)0 n* W3 K* b1 c& | P6 H* O
Provided operational update
" G$ ^* V v" t; Z+ S$ B! a# fBlackmont Capital maintains "hold", 12-month target price is lowered to $19.00
% }% f" [* T2 t; D' _# vTD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
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Paramount Resources (POU : TSX : $7.85)
# P; R; d# F% y3 U" I- p" YProvided operational update: Grande Prairie emerging as the key focus for F09; o1 {, L e- z' h+ @: z
GMP Securities maintains "buy", 12-month target price is $12.00. s" W; `. o# e' w- r; m
- e" {* M* N6 N% M; d. Q" RRockwell Diamonds (RDI : TSX : $0.07)
8 m& e. l( ?$ o2 m# u9 R/ {Operations starting to turn the corner2 g8 a o. ~9 f' L4 L% N; S3 }
RBC Capital Markets maintains "outperform", no target price reported
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Shaw Communications (SJR.B : TSX : $20.13) r. A9 }) _% m0 |0 k7 g7 l' z
Released Q1/09 results: in line, subscribers ahead. o9 s" w# G3 {4 t1 ~# r& t4 [0 z9 }
Credit Suisse maintains "neutral", 12-month target price is $25.50
( F/ e9 o7 c# A# ~9 kGMP Securities continues "buy", 12-month target price is $26.503 f4 q. C/ ]4 x7 y' b: V
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Sun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)2 H9 H9 f0 s/ h9 O
Held a sell-side lunch showcasing new U.S. team
: r9 D' ]4 ~8 K3 BScotia Capital Markets maintains "sector perform", 12-month target price is $33.00
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Trican Well Service (TCW : TSX : $6.93)
; Q9 s8 q. P( E IAwarded Russian contracts; @& s2 q* p) u1 h# |
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.755 ^+ B+ T4 [1 }- {8 z! \0 z
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00
9 {" @5 O& J/ i" m$ fRBC Capital Markets maintains "sector perform", 12-month target price is $10.006 T3 w4 {5 O$ v6 G
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Sino-Forest Corp. (TRE : TSX : $8.93)( H5 a( d( m8 a! c/ i
Chinese furniture exports rose in November
0 S' C$ y4 U- o5 F- }Dundee Capital Markets maintains "buy", 12-month target price is $23.50
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9 I: u1 W- G5 `! }/ V: \UEX Corp. (UEX : TSX : $0.88)
& ], E0 ?/ Y' S( ^- FShea Creek's two largest deposits have become one
, {% }- r1 ~, ?0 R2 BDundee Capital Markets maintains "buy", 12-month target price is $2.75
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; \' V, P. p2 K8 y7 G, b/ l; q4 ~Vero Energy (VRO : TSX : $4.72)
( u# y& E, G6 E' D" UReleased Q4/08 results: horizontal focus to continue in F09
5 q t/ f! m: e" oDundee Capital Markets continues "buy", 12-month target price is $8.00" }7 ?6 a- R! I* Q6 y
GMP Securities continues "buy", 12-month target price is $7.500 ]5 ^2 m. ]9 J; a ~' j: O
Paradigm Capital continues "buy", 12-month target price is $12.00
+ M" o2 J Y8 M: d3 JRBC Capital Markets maintains "outperform", 12-month target price is $8.50& i# O& s+ o+ H3 R* i/ z5 X( A
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Wi-Lan Inc (WIN : TSX : $1.75)1 Z Q# `9 z) W& C& B5 Q S
Hit homerun with Samsung
' Q) K9 q' w) i% r! s. \! OParadigm Capital continues "buy", 12-month target price is $3.50 |
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