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Ear on the Street --- Jan. 16 20098 X1 {/ Y9 q2 u$ l) f
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Absolute Software (ABT : TSX : $3.36)! J# ^1 h3 [& g- t
Bracing for a tough few quarters4 q2 o' E- x7 ~4 E5 ^8 b6 W- \
Canaccord Capital maintains "hold", 12-month target price is $4.500 g3 V0 C0 h% z9 [1 P
5 f/ d6 I& c, y3 z% A3 h" T6 M! ZBarrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)( v9 H& b0 r0 m: s! _5 r/ G
Growth outlook, challenging pipeline and high cost structure make future unclear" T3 w7 n/ M4 i. F. B" s( `
Blackmont Capital continues "hold", 12-month target price is lowered to $48.006 e+ i8 g2 j- U8 V
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00
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. F5 A4 u9 l# c4 F" _2 R5 d2 n8 v wAstral Media (ACM.A : TSX : $22.98)
; O8 Q5 t# _) {+ w0 }Released Q1/09 results: strong, in light of challenging operating environment7 e2 c! u7 D( }# C( ^: n( l
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.000 a0 N2 u9 j3 r3 c, m) i
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00
6 K) f2 K5 b; YGMP Securities maintains "buy", 12-month target price is reduced to $30.006 ?, ^3 N& k0 j' S5 {" A
RBC Capital Markets continues "outperform", 12-month target price is raised to $31.00
% W% Q S5 X) U5 A: DScotia Capital Markets continues "sector outperform", 12-month target price is $30.00' e" l- n1 _/ ?% |" j
) `: D, ^: N, E4 t% xAgnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07) e+ {. j% f; Q$ D) M
Well positioned with gold production forecast to double this year and next
6 K8 E3 t- w8 |Blackmont Capital continues "buy", 12-month target price is lowered to $83.00
q! L/ ^! X$ b0 M4 uTD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00( [1 y* o" h1 n5 u' ~
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ARC Energy Trust (AET.UN : TSX : $17.15)5 B5 ?8 [, s, e8 ~0 F; ]7 H
Reduced distributions by 20%; capex also cut+ w5 J9 t, F+ Q" c. }# `
RBC Capital Markets continues "outperform", 12-month target price is $19.00
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Andean Resources (AND : TSX : $0.75)
8 a) k8 t7 X( E* EAnnounced F09 outlook
' @. z( r# P/ GParadigm Capital continues "speculative buy", 12-month target price is $2.25
2 V1 l; O8 F; R. g& R9 @+ }TD Newcrest downgrades to "hold", 12-month target price is cut to $1.005 M% I: l$ A7 l# H' n% u" p
, Z1 M/ \3 F, R+ }9 t: Q6 R: bBombardier Inc. (BBD.B : TSX : $4.65)
6 b) R1 v3 x* v7 oRising challenges in Aerospace! W% \5 k% @- Q# p) C5 G3 S
GMP Securities continues "buy", 12-month target price is $8.00
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Bank of Montreal (BMO : TSX : $31.84)
: [) s; ^/ c( `3 N6 |1 G8 N8 kAcquiring AIG's Canadian life insurance business
9 p7 y4 Z5 Y4 ?TD Newcrest continues "hold", 12-month target price is $37.001 c0 n. E; A, G% q0 ?! k1 i
' |1 o, n% d2 x' j% {0 hCogeco Cable (CCA : TSX : $33.37)) m8 [) B! y6 D7 u# D( D6 ^
Q1 review: Canada results encouraging, but Portugal remains a drag
: q& _* C' e+ W c1 d0 l* zBMO Capital Markets maintains "outperform", 12-month target price is $46.00
- V" m+ v: U) w( YDesjardins Securities continues "top pick", 12-month target price is $40.000 L k1 K1 Y9 V/ }. _7 p. `
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00
@( c. a8 Y1 F$ kScotia Capital Markets continues "sector outperform", 12-month target price is $55.006 G# l9 ]) k- e p5 k
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Corridor Resources (CDH : TSX : $2.45)5 T1 Q1 o3 [) ?5 K0 Q& Q* F
Capital budget set to expected cash flow; production guidance lowered& A8 p. U2 o8 v+ h2 T$ S4 }
RBC Capital Markets maintains "outperform", 12-month target price is $4.25( y: [3 e* _4 S/ p' J3 j# q2 y
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COGECO Inc. (CGO : TSX : $25.14)
0 t3 L ] V1 ` OStrong radio and cable drives 39% EPS growth
2 q3 Z' i; l+ a l$ u* yScotia Capital Markets continues "sector perform", 12-month target price is $45.00
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6 n3 M7 |+ K% ~" ^CanWest Global Communications (CGS : TSX : $0.51)% }7 g: R6 I. M
Taking action to address tough operating environment
9 g: P" b! |5 i* l: h$ bBMO Capital Markets maintains "underperform", no target price reported& h+ R$ o( Y: H( f" O5 q. A5 ^
Credit Suisse maintains "neutral", 12-month target price is $1.005 a& j& B, N2 L: L! A2 v! y
GMP Securities continues "reduce", 12-month target price is $0.50
" d& w7 t% F- p3 tRBC Capital Markets continues "underperform", 12-month target price is $0.75
! j1 K& X$ D8 n" u3 n- gScotia Capital Markets continues "sector underperform", 12-month target price is $0.50/ ]. P p6 N% R
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Corus Entertainment (CJR.B : TSX : $12.47)4 q8 v4 R( g- ?% p
Q1 revenues in line, EPS beat
f2 ?0 U! d7 i8 E, LBMO Capital Markets continues "market perform", 12-month target price is cut to $15.00- F6 r( }, R6 B9 I
Credit Suisse continues "outperform", 12-month target price is $20.00
0 z' [' K! J/ F. c7 B0 U' y5 Y7 RDesjardins Securities maintains "buy", 12-month target price is lowered to $15.00
. p; U/ t1 b& G2 v; K7 V9 {GMP Securities maintains "buy", 12-month target price is reduced to $17.005 t7 E6 Z A. J; ^8 D, n" A
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50, C5 c2 `* X# i( c! G0 t
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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% s4 B2 }# v' }% Q5 E4 V ZCalloway REIT (CWT.UN : TSX : $11.84)( l+ r3 R0 v1 t) q
Held investor day
& L# d$ c" e! O. h7 {/ a# WScotia Capital Markets maintains "sector underperform", 12-month target price is $11.00) f1 p; K, o5 y/ E; @) y
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Daylight Resources Trust (DAY.UN : TSX : $7.77)+ j3 k0 o" a* d: J* `- T! |9 s$ o7 F
Reduced distributions by 38%; guided for lower capex# W* B5 |* Y1 L Y: }
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00, o% T# o0 x x4 D6 s
Dundee Capital Markets continues "buy", 12-month target price is $12.00
$ w$ l' f1 t3 l- CTD Newcrest continues "hold", 12-month target price is $7.50. K2 g& D- l0 ^( K
% b% Z _; w9 X7 ]: I0 [7 @* [EXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)2 _( k" D& [8 t% Y. z' q6 D {
Steady market and currency tailwind
8 ^7 j, c8 i; O, Q j4 `# }TD Newcrest maintains "buy", 12-month target price is US$5.00
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Goldcorp Inc. (G : TSX : $29.74)
" D. A/ m" D; Y0 T* ^+ l( q8 rRevised commodity forecasts
) m7 G- K# f/ t6 [& JBlackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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. Q5 v: L) }8 z3 n* WHeritage Oil (HOC : TSX : $3.77)
% |! V! E9 B; oAnnounced Ugandan commerciality on exploration success
7 h w0 p2 @! |& D; zTD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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' e% d6 A1 S8 zHarry Winston Diamond (HW : TSX : $4.98); U+ X! g+ d5 D3 R" \: l6 b
Retail division suffers
- [- A0 l/ u' bDesjardins Securities maintains "buy", 12-month target price is $12.60
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! H7 q9 p$ p# k; |3 y9 RLaramide Resources (LAM : TSX : $1.84)
) J% q9 u) _" x0 d8 JWestmoreland provided more high grade at Redtree's Jack Lens% J! W$ y7 P, n% `
Dundee Capital Markets continues "buy", 12-month target price is $2.30
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5 m; K: Q9 I3 A% b! ~Lockerbie & Hole (LH : TSX : $6.00): C6 P& Z9 j( o2 q0 Z& I
Released Q3/09 results: very strong, focus should be on active backlog. F7 q, Y8 f3 S6 {
GMP Securities continues "buy", 12-month target price is $9.00
5 T6 o. U" ^6 s) d7 Z; N: d0 {0 X( nRaymond James maintains "market perform", 6-12 month target price is $8.25
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" j( g6 F' b, |Livingston Intl Income Fund (LIV.UN : TSX : $6.00)1 X9 h& n2 W0 h" T7 x9 c& [1 ^
Reduced distributions by 70%
! g: f$ {- V3 W7 k2 Y2 C7 jRBC Capital Markets maintains "outperform", no target price reported# l4 ]" ^) |% y$ y* r! ] J
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50: D5 M9 X+ c* ]
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Matrikon Inc. (MTK : TSX : $2.04), v7 J( r) }8 y' i
Released Q1/09 results: a little light, but still respectable
! O; n/ A! [0 r% X* a( |BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.500 L8 W/ b: F0 h# L3 }) N: O
Paradigm Capital maintains "buy", 12-month target price is $4.00
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Mullen Group Income Fund (MTL.UN : TSX : $10.97). ~/ i8 s1 R9 {* l3 w9 g) p4 D
Expecting lower CFPU on higher taxes
6 ^8 Q/ E; T! R$ v( E( g3 _6 ~BMO Capital Markets continues "outperform", 12-month target price is $18.00' T2 v& B# I' x9 d t6 Y8 g( C
RBC Capital Markets continues "sector perform", 12-month target price is $12.00; c$ B8 {+ u4 {7 r! S
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)0 f, c8 T4 R, J
Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain+ ^/ [9 L2 P3 R0 }
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25
4 i1 W+ d0 Q0 j M8 sCredit Suisse maintains "neutral", 12-month target price is US$1.000 f; P9 u1 e r
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80+ L1 F9 f! z( {. G) j
- a# s1 X# }5 G3 M) uNeptune Tech & Bioresources (NTB : TSX-V : $0.79)
6 a' T, E/ }1 E' nDietary supplement business facing headwinds. M4 M0 @' ~' H f( @6 k
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00" t9 n# L: \* H! w* j
0 C1 p3 ~' V4 F9 k: S8 r fOpen Range Energy (ONR : TSX : $1.18)
N( s1 S: ^ n0 ]Provided operational update and F09 guidance# Q6 v( {0 ?7 Y. l! {/ s6 \
Haywood Securities continues "sector outperform", 12-month target price is $3.25
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- s' {- A' T! _Osisko Mining (OSK : TSX : $3.13)
, u( n J' n9 H! Z6 a+ O: N3 MSouth Barnat resource around the corner3 t4 u7 S b5 z8 J4 G$ O3 L/ E1 d, F
Paradigm Capital continues "speculative buy", 12-month target price is $4.75* T2 R1 i$ S# c$ c$ l0 q
' \) L; c7 }) ^$ N, d1 fPan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)
# S7 L, H: [4 c; J& IProvided operational update
8 S" C: f% |$ ~" m4 J* SBlackmont Capital maintains "hold", 12-month target price is lowered to $19.00
& g: S% e" l+ A8 K) l! Z. U9 ?7 [* gTD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
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Paramount Resources (POU : TSX : $7.85)
6 G+ D, M- [" |( c' PProvided operational update: Grande Prairie emerging as the key focus for F09
& Z$ a3 g: y) ]# R# WGMP Securities maintains "buy", 12-month target price is $12.006 ~6 b' A* ~+ a) f5 g, u
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Rockwell Diamonds (RDI : TSX : $0.07)
7 T% o" ~3 i/ _Operations starting to turn the corner) |" _( B+ x5 t
RBC Capital Markets maintains "outperform", no target price reported! f3 k5 ]* m6 J% M" b; A/ r) A4 r
& N% T% R4 W u) E( \+ QShaw Communications (SJR.B : TSX : $20.13)
5 Z6 o7 }1 i1 v- sReleased Q1/09 results: in line, subscribers ahead N2 \# P* p0 d9 h3 d
Credit Suisse maintains "neutral", 12-month target price is $25.50 F- C, D8 q0 a( d" I$ v4 {) }
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)( r: {4 i! v1 H7 ?- h' X9 p
Held a sell-side lunch showcasing new U.S. team( z8 C# w. l6 V
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.008 u4 P' [- I7 O9 _5 o/ A# ?5 N
5 M0 Z2 x# L V% [" u0 \1 iTrican Well Service (TCW : TSX : $6.93): f- g! W; X* P( b$ E* {
Awarded Russian contracts0 Y7 V+ A, u# ~$ F2 q
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75- b& }$ E$ N: W4 y
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00
7 T S6 @, ^, C9 _: XRBC Capital Markets maintains "sector perform", 12-month target price is $10.00! F$ u2 H6 J5 U" _1 v0 _5 I3 t3 [6 G( ^
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Sino-Forest Corp. (TRE : TSX : $8.93)
0 n a# \ T' r' A& v, ZChinese furniture exports rose in November6 A% K+ }: G) z" E. L. V/ D! S6 C
Dundee Capital Markets maintains "buy", 12-month target price is $23.50
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UEX Corp. (UEX : TSX : $0.88)
) y" A6 k' Z: r% xShea Creek's two largest deposits have become one
5 P5 w7 w; Y3 p, V, w G1 }& DDundee Capital Markets maintains "buy", 12-month target price is $2.75
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) \% `0 L# J0 B; QVero Energy (VRO : TSX : $4.72)& n" a U; V* b5 r) C+ |. G
Released Q4/08 results: horizontal focus to continue in F09
6 Y8 K9 y3 e6 _6 YDundee Capital Markets continues "buy", 12-month target price is $8.00
3 o1 j) P* l) A$ R1 L+ FGMP Securities continues "buy", 12-month target price is $7.50* e1 U$ q0 _( A" G* t* v4 T1 D. d
Paradigm Capital continues "buy", 12-month target price is $12.00
# J0 X& Z* V* @9 @7 |" gRBC Capital Markets maintains "outperform", 12-month target price is $8.507 {- z- {! Q- r8 H* H) f( s& d
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Wi-Lan Inc (WIN : TSX : $1.75)! |+ S9 A& Y2 t. j( Y6 b G
Hit homerun with Samsung3 U3 U3 e9 F- l d
Paradigm Capital continues "buy", 12-month target price is $3.50 |
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