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Ear on the Street --- Jan. 16 2009* V5 J( c3 C# Q# b5 d( I. J0 `
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Absolute Software (ABT : TSX : $3.36)" r h1 O# B8 n( P5 y
Bracing for a tough few quarters8 b* m p+ e6 P( J9 |. m- A
Canaccord Capital maintains "hold", 12-month target price is $4.50
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) y7 @! C2 g; U* n) U+ qBarrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)/ ?: \% }. T3 S# ~& l. l
Growth outlook, challenging pipeline and high cost structure make future unclear, y, {. O# j/ I) G! X d. b* s
Blackmont Capital continues "hold", 12-month target price is lowered to $48.004 A+ H: f' d. z. Y4 ^
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00! r+ R, k2 `& R
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Astral Media (ACM.A : TSX : $22.98)2 c% N7 D6 n* q! x8 N/ b' b
Released Q1/09 results: strong, in light of challenging operating environment; x. o* Q% [8 m3 k3 ?' M
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.009 \& d$ K m$ B' O
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00' r4 J& Q( S7 {" W/ j5 ~" h
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
$ q0 ~1 j% k8 K2 kRBC Capital Markets continues "outperform", 12-month target price is raised to $31.006 ~6 T8 b. ~9 y+ _$ T
Scotia Capital Markets continues "sector outperform", 12-month target price is $30.00
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2 {" d. {9 P6 \8 IAgnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)# P |$ y. v6 N6 d7 L1 T# J2 [: m1 ~
Well positioned with gold production forecast to double this year and next6 c( V+ R: S! ^: t, I/ H" d
Blackmont Capital continues "buy", 12-month target price is lowered to $83.00' p/ M6 k0 w& R0 B* f
TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00+ F! Y- R& l" \
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ARC Energy Trust (AET.UN : TSX : $17.15)
+ t! R% G# C" k/ kReduced distributions by 20%; capex also cut4 D5 ?! b( P7 w1 q
RBC Capital Markets continues "outperform", 12-month target price is $19.00
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Andean Resources (AND : TSX : $0.75)
( c' [; h7 k' x! x' u' \2 i- SAnnounced F09 outlook; ?! [# l/ E1 t( A
Paradigm Capital continues "speculative buy", 12-month target price is $2.25
( @$ C6 z* V" N# K% r# L& U, lTD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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6 N7 _; O( \6 C) zBombardier Inc. (BBD.B : TSX : $4.65)' M* b) x1 ]' b& I+ B
Rising challenges in Aerospace. K) n, ~3 u8 l) X) e, F
GMP Securities continues "buy", 12-month target price is $8.00
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! n. {3 O. r: {% z+ r: I! j% CBank of Montreal (BMO : TSX : $31.84)
' m( ~: v8 y3 D$ U' L' i4 m. nAcquiring AIG's Canadian life insurance business9 }* ]" q; k _
TD Newcrest continues "hold", 12-month target price is $37.00! J w! |8 {, X. h6 P
9 s, j* S& L# v# I6 j' ^$ ]3 w4 QCogeco Cable (CCA : TSX : $33.37)
0 I: z+ a1 F/ wQ1 review: Canada results encouraging, but Portugal remains a drag
6 D9 V! O1 v0 N4 NBMO Capital Markets maintains "outperform", 12-month target price is $46.00
; a( c3 L" ]& J' K- z2 lDesjardins Securities continues "top pick", 12-month target price is $40.00
- p9 p7 J6 Q7 G m$ E4 m& s' t7 h' M7 ERBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00
6 ?! X9 v* @; f# I, P6 R& OScotia Capital Markets continues "sector outperform", 12-month target price is $55.009 m& n X( \" D6 m
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Corridor Resources (CDH : TSX : $2.45)( R% A7 I5 O$ Z0 R
Capital budget set to expected cash flow; production guidance lowered
4 h0 A5 ~. [. a% DRBC Capital Markets maintains "outperform", 12-month target price is $4.25) D% P% N+ I( O5 S1 V
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COGECO Inc. (CGO : TSX : $25.14)
2 \) W. K# U% R+ J0 I+ lStrong radio and cable drives 39% EPS growth
% ` a; L, c% V$ c& P, q& C$ nScotia Capital Markets continues "sector perform", 12-month target price is $45.00
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CanWest Global Communications (CGS : TSX : $0.51)
- V/ a/ ?( b& d8 `Taking action to address tough operating environment4 L! x/ d: S# a( i: }; w( }
BMO Capital Markets maintains "underperform", no target price reported' C, x/ C+ O) M$ U5 k$ j
Credit Suisse maintains "neutral", 12-month target price is $1.00! K7 L+ N6 F# C7 ^
GMP Securities continues "reduce", 12-month target price is $0.50+ m- G& o/ @% O& Y# _
RBC Capital Markets continues "underperform", 12-month target price is $0.75
( G2 E, j& z( T o" x) s& G7 zScotia Capital Markets continues "sector underperform", 12-month target price is $0.50+ t2 H4 [0 P1 C) j) @5 C- N
1 l! X9 H# o5 h8 WCorus Entertainment (CJR.B : TSX : $12.47)
; X! u7 E, G1 K" _Q1 revenues in line, EPS beat5 u' J) v+ `" n; |) I2 U+ r
BMO Capital Markets continues "market perform", 12-month target price is cut to $15.00
) A [' O/ i8 ]- _+ {Credit Suisse continues "outperform", 12-month target price is $20.00
4 f9 H7 t" r- y# I# {' w1 HDesjardins Securities maintains "buy", 12-month target price is lowered to $15.003 y8 o- a- {" G- `" K( d1 f; o- a
GMP Securities maintains "buy", 12-month target price is reduced to $17.00
0 x4 _5 {7 k) i# ^- s1 eRBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50
, q/ J2 U" \! C" |/ ?# v5 KScotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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Calloway REIT (CWT.UN : TSX : $11.84)
* R' ]; H1 `0 m! t9 IHeld investor day( n" b+ p2 t. c/ L
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00% G1 e% J) b. ^" q1 r& W4 h- y# v: L
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Daylight Resources Trust (DAY.UN : TSX : $7.77)
3 r" z- v* }) RReduced distributions by 38%; guided for lower capex
9 d0 z' G; A& ZBMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00
3 A d- ~; \5 }/ z9 H1 rDundee Capital Markets continues "buy", 12-month target price is $12.00
+ k2 i, C Q8 z% A( CTD Newcrest continues "hold", 12-month target price is $7.505 z3 i* j$ Z& p, \2 H
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EXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)& O T7 G9 ]. ~8 j8 O) `
Steady market and currency tailwind& [& o R( o: o- S) P% L) f
TD Newcrest maintains "buy", 12-month target price is US$5.00
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- {+ y1 O& M$ AGoldcorp Inc. (G : TSX : $29.74)
- J: ^. O8 D# o) A' R! tRevised commodity forecasts
' m9 `1 |' H) l( F7 }3 q! q1 p6 CBlackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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; |8 @! m2 z/ Y2 b) c7 d3 i' ~3 lHeritage Oil (HOC : TSX : $3.77)* t" @+ {8 ~1 p% C1 f
Announced Ugandan commerciality on exploration success4 s- x* T) ]/ O! h5 y# I
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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6 {) E" a3 P: T2 d, AHarry Winston Diamond (HW : TSX : $4.98)7 l4 Z0 g6 r$ d! D& E4 D6 b
Retail division suffers3 k: c: g; C$ q7 {& N* @8 r
Desjardins Securities maintains "buy", 12-month target price is $12.60
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Laramide Resources (LAM : TSX : $1.84)
# `* ?/ Z1 m3 D8 T' R' y9 [+ \2 `Westmoreland provided more high grade at Redtree's Jack Lens
5 g7 }& ?, ^5 y+ J7 sDundee Capital Markets continues "buy", 12-month target price is $2.305 x# J2 {8 B' U/ M, }5 l
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Lockerbie & Hole (LH : TSX : $6.00)
- u0 }1 X2 W+ B7 y4 QReleased Q3/09 results: very strong, focus should be on active backlog+ x5 R5 Z3 g2 k. U9 ]
GMP Securities continues "buy", 12-month target price is $9.00! ?+ I4 S2 X, P, Z/ F
Raymond James maintains "market perform", 6-12 month target price is $8.25
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" c8 b0 h5 v: F0 S) WLivingston Intl Income Fund (LIV.UN : TSX : $6.00)
O/ e8 L R2 m/ _) qReduced distributions by 70%# G% {: `- Q4 F. \6 L9 {
RBC Capital Markets maintains "outperform", no target price reported
; B3 y3 ^, ?$ w8 L9 r; O R! TScotia Capital Markets continues "sector underperform", 12-month target price is $6.50- I. R/ P: q4 S$ v% j2 q$ \
: S# e1 G) A e( l5 F8 [4 VMatrikon Inc. (MTK : TSX : $2.04)6 L) N2 I4 |* t2 o; p# s
Released Q1/09 results: a little light, but still respectable
) X8 g" \" @2 J- y( VBMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50
9 U$ ?8 O, K" u; c8 G8 X. y WParadigm Capital maintains "buy", 12-month target price is $4.00
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Mullen Group Income Fund (MTL.UN : TSX : $10.97): F$ r6 D: v: g: Y8 l
Expecting lower CFPU on higher taxes/ I- B; D x' `8 G& {
BMO Capital Markets continues "outperform", 12-month target price is $18.00
& G* [( _: s/ E7 BRBC Capital Markets continues "sector perform", 12-month target price is $12.00; x* U0 ]* I# f1 l2 z
TD Newcrest continues "buy", 12-month target price is $17.00% \, j/ ~# B' B# w* e
/ E1 {' ?5 j2 m }* bNorthgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)
i/ m# `. O5 k8 b, Y5 y* D8 pReleased Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain; t& _. d* U. n; Z* R
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25: _2 ?, p' ]# m1 g1 H( r
Credit Suisse maintains "neutral", 12-month target price is US$1.00& z4 @# w! l4 a
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80
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- o5 M, T% R3 s6 G" k* \! w DNeptune Tech & Bioresources (NTB : TSX-V : $0.79)/ T7 }: c& _4 ~5 ]6 `
Dietary supplement business facing headwinds8 R) D5 _4 P, T7 F1 X
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.008 a* `/ N; G) X4 u0 @% ]( p
5 ?2 @4 p& c0 t( G T7 vOpen Range Energy (ONR : TSX : $1.18)
: s. r% `4 g, oProvided operational update and F09 guidance
, A4 ~$ p) {- e. \: rHaywood Securities continues "sector outperform", 12-month target price is $3.257 e5 Y( Z6 `% o. ?! Y1 ]
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Osisko Mining (OSK : TSX : $3.13), K2 N2 R# c1 j$ V8 t4 n% `
South Barnat resource around the corner k: l& V0 }* D5 P" F- f# A
Paradigm Capital continues "speculative buy", 12-month target price is $4.75% w+ C9 v0 ^: e" h$ |4 t
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Pan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)
& I- V; e2 q4 {' Q- B( @! _Provided operational update
+ ?* d4 Y1 I4 _0 L% f/ U# d) ZBlackmont Capital maintains "hold", 12-month target price is lowered to $19.00
% r+ n- W5 E* Y W9 {' DTD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50# j1 O. t+ A2 r1 y q. L, d
# Y+ q% X; F+ p. J; w$ YParamount Resources (POU : TSX : $7.85)
2 a* [: g! {! e& Y2 \Provided operational update: Grande Prairie emerging as the key focus for F09
. v/ o# x5 C* E0 Q3 dGMP Securities maintains "buy", 12-month target price is $12.00
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Rockwell Diamonds (RDI : TSX : $0.07)1 Z/ I0 M, b: q7 r6 V
Operations starting to turn the corner
# J( N/ ~( n4 E, Y# w& [RBC Capital Markets maintains "outperform", no target price reported
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$ u1 @7 C% ?2 d" M# VShaw Communications (SJR.B : TSX : $20.13): b6 p8 K" q- D+ K* t
Released Q1/09 results: in line, subscribers ahead
8 K+ j$ I1 ^ o4 @; k) oCredit Suisse maintains "neutral", 12-month target price is $25.50$ i% h1 ?9 h: W' T/ s5 `
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)% p: [+ C" u% K9 L9 r i8 U
Held a sell-side lunch showcasing new U.S. team6 H4 r- H9 Z/ j) \2 a( Q8 _, b
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.00
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% [$ I% Q( H2 [' z7 ]3 q, pTrican Well Service (TCW : TSX : $6.93); X& S9 A/ |2 H. s" F$ O
Awarded Russian contracts1 e0 D+ u7 Y4 }1 M
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75& X9 z, z. y, c5 I4 y2 z, J4 ?+ R2 v
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00
( ^. D& J, p- Q/ y" z$ U/ c9 aRBC Capital Markets maintains "sector perform", 12-month target price is $10.00# {- {, s4 w+ e2 s& D; [
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Sino-Forest Corp. (TRE : TSX : $8.93); ~( }3 }6 }0 |/ B3 B8 t+ Z2 H6 |
Chinese furniture exports rose in November
! V1 Z# W6 F% n+ P& N, zDundee Capital Markets maintains "buy", 12-month target price is $23.50+ z# D' x1 z* }% d. F2 R
8 U1 Z' w% B4 b2 D5 J# }7 H$ g+ KUEX Corp. (UEX : TSX : $0.88)% ]* R: z" ^' c7 B
Shea Creek's two largest deposits have become one
# t w- a1 |1 N, a/ _: X" @Dundee Capital Markets maintains "buy", 12-month target price is $2.75- ^& j3 j, J# N; j( E) M
" I& P8 c0 W. H9 \& GVero Energy (VRO : TSX : $4.72)
+ _: O- l# ~' H4 g- f ?$ ]Released Q4/08 results: horizontal focus to continue in F09& \3 L2 `% P; H
Dundee Capital Markets continues "buy", 12-month target price is $8.00
- t0 I, k; C2 q9 B' s9 }; EGMP Securities continues "buy", 12-month target price is $7.509 q" W7 V+ v1 [+ P; ~
Paradigm Capital continues "buy", 12-month target price is $12.008 }$ ] y5 X/ i; Z; v
RBC Capital Markets maintains "outperform", 12-month target price is $8.50
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Wi-Lan Inc (WIN : TSX : $1.75)3 R+ b, ~' i, V: N9 ^7 X$ U- e5 B
Hit homerun with Samsung
1 M w/ g) S1 f0 ^0 i) s* `Paradigm Capital continues "buy", 12-month target price is $3.50 |
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