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Ear on the Street --- Jan. 16 20097 \8 Y5 z& X' Y; o( a: ~3 V
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Absolute Software (ABT : TSX : $3.36)
/ Y. L, ~3 G( mBracing for a tough few quarters
+ p6 x- w8 I5 j; t; P5 FCanaccord Capital maintains "hold", 12-month target price is $4.50
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. |- ?7 x1 X5 T8 B' G+ OBarrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)! g+ H/ |: r6 f) c
Growth outlook, challenging pipeline and high cost structure make future unclear
* A' q/ m& }( \0 C6 k$ W6 hBlackmont Capital continues "hold", 12-month target price is lowered to $48.00$ c& D# u. G" b; V5 v& N4 O
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00
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Astral Media (ACM.A : TSX : $22.98)
+ F$ g8 |9 C. ^ c% V9 l8 bReleased Q1/09 results: strong, in light of challenging operating environment2 s% U m' v' {, \4 X6 v j
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00' L& ], F- N0 j; Z8 f
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00, N& k* V' i3 O. q0 r' H
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
4 b7 W F' s% j2 x' bRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00- V8 _7 @% F' |1 ]
Scotia Capital Markets continues "sector outperform", 12-month target price is $30.00
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# x) u. c( {+ p, P: h9 a1 KAgnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)
$ V( v* n+ ^: W) A0 m* yWell positioned with gold production forecast to double this year and next
/ k, Q7 g* F' s+ tBlackmont Capital continues "buy", 12-month target price is lowered to $83.000 ~5 `- ^/ Q+ N( K1 {% O' h
TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.007 X+ {5 W% z+ N6 @# B0 A# @+ ~) K
# e8 j* ]0 V3 P% k" { |3 Y0 E1 KARC Energy Trust (AET.UN : TSX : $17.15)" I+ w, k: X8 U$ J4 S6 c8 Z
Reduced distributions by 20%; capex also cut
) J; a. X: O6 m/ ?/ f! iRBC Capital Markets continues "outperform", 12-month target price is $19.00
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Andean Resources (AND : TSX : $0.75)$ N2 }2 }' N% o2 U7 G
Announced F09 outlook; H- S+ ] _. M
Paradigm Capital continues "speculative buy", 12-month target price is $2.25
; [$ C. R, P; {- _8 f1 ?TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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# R! y7 Q X- X+ ^7 G0 T6 gBombardier Inc. (BBD.B : TSX : $4.65)
% x8 N3 _4 p# g$ m$ q/ eRising challenges in Aerospace
; a" K1 Y6 P' b9 X. f5 G* SGMP Securities continues "buy", 12-month target price is $8.00
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Bank of Montreal (BMO : TSX : $31.84)
$ u C4 k5 r* H/ {& GAcquiring AIG's Canadian life insurance business' K6 S1 L/ |2 g K- x
TD Newcrest continues "hold", 12-month target price is $37.00
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Cogeco Cable (CCA : TSX : $33.37)0 ^1 h1 D- e0 ?; ~4 s# J" W
Q1 review: Canada results encouraging, but Portugal remains a drag
# z2 m- D' ^1 z+ {7 K5 c nBMO Capital Markets maintains "outperform", 12-month target price is $46.00
9 y8 ~; n v9 M* jDesjardins Securities continues "top pick", 12-month target price is $40.00
, ~" H4 Y- g$ E5 nRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00
- E+ o, G' `! I, R: c. t) N9 D: vScotia Capital Markets continues "sector outperform", 12-month target price is $55.004 _3 x$ d, K, z) h" [
. l- X) |: s$ T3 ^5 e, B ECorridor Resources (CDH : TSX : $2.45)5 i& \8 t7 i! M+ q) @$ P
Capital budget set to expected cash flow; production guidance lowered' E) I j2 ?8 E; ~
RBC Capital Markets maintains "outperform", 12-month target price is $4.25$ N6 y5 }* C" R% ]1 C6 ?, W
) i/ l) \0 ~0 P/ z* Z) S2 hCOGECO Inc. (CGO : TSX : $25.14)( A/ x! V* }6 N( V0 j" o
Strong radio and cable drives 39% EPS growth
. u8 i, B5 t8 j& rScotia Capital Markets continues "sector perform", 12-month target price is $45.006 ~' m* o* D0 e& y5 ?+ L
4 L2 v8 @; p- o% ]5 ]7 cCanWest Global Communications (CGS : TSX : $0.51)$ x( F6 {( b3 n+ k8 v, N# A+ t) L
Taking action to address tough operating environment
) ^ M( o9 [# a1 p' Y: E* oBMO Capital Markets maintains "underperform", no target price reported
, s" I0 P3 Y) v/ RCredit Suisse maintains "neutral", 12-month target price is $1.00; f4 b' @( }* ~. P! ?3 \# Y
GMP Securities continues "reduce", 12-month target price is $0.50) H/ ^ n0 j0 ]+ r4 a
RBC Capital Markets continues "underperform", 12-month target price is $0.75
6 g9 @5 u; Y+ g- sScotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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Corus Entertainment (CJR.B : TSX : $12.47)2 Y( ^( I1 f3 o" B% e3 x
Q1 revenues in line, EPS beat
! Y- o c1 H, EBMO Capital Markets continues "market perform", 12-month target price is cut to $15.00
8 g5 s9 l* x0 H5 H5 yCredit Suisse continues "outperform", 12-month target price is $20.00' ]5 y- k" Z4 d0 ~( ] e/ G
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00
/ c& B, m h ^) U [GMP Securities maintains "buy", 12-month target price is reduced to $17.00
. u, w* }( z( K3 }) eRBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50* p# D! _5 f( ?* A9 S* d0 Z
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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) ^2 O& s) _- E$ E: P4 ~Calloway REIT (CWT.UN : TSX : $11.84)
( s: `1 p0 B' G) P7 G ZHeld investor day7 {4 X* Q) {1 b1 V# C- A
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00, n9 e* S7 K! m8 X
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Daylight Resources Trust (DAY.UN : TSX : $7.77)
$ ^# B9 }: t& a e9 bReduced distributions by 38%; guided for lower capex
" l3 I$ p3 t1 J) V) sBMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.002 ?0 V3 P" D/ `0 ?3 W' e! R5 L7 J
Dundee Capital Markets continues "buy", 12-month target price is $12.00
" y* I- J. w- J! lTD Newcrest continues "hold", 12-month target price is $7.50
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EXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)
4 Y# v* W3 }7 lSteady market and currency tailwind
# o: k$ Q5 m+ y, A6 L2 W1 L- QTD Newcrest maintains "buy", 12-month target price is US$5.00! d& p3 }/ Y) q' }5 c
4 l/ I$ n0 d+ y- C, J! YGoldcorp Inc. (G : TSX : $29.74)
+ _3 J5 w% g1 v, ]. p, K+ TRevised commodity forecasts
& F) X+ d- V' W ^4 UBlackmont Capital maintains "buy", 12-month target price is reduced to $49.00# ~, a; w# d2 [5 I
+ O+ W* x1 u2 \, j- FHeritage Oil (HOC : TSX : $3.77), d; `3 X" F9 ], J4 U
Announced Ugandan commerciality on exploration success( y# N7 ]8 F/ r" x9 N# W
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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1 E9 S7 m- k4 ^' ?Harry Winston Diamond (HW : TSX : $4.98)8 R" @- K8 M3 S2 C
Retail division suffers& Z: y9 O+ `0 s: t, F5 e
Desjardins Securities maintains "buy", 12-month target price is $12.602 O9 L) J, t1 G
Y7 ^! H/ |; `- }3 A& ~Laramide Resources (LAM : TSX : $1.84)
: w0 O) F& U( }4 q( Q% W" R# qWestmoreland provided more high grade at Redtree's Jack Lens
1 a! H' f! K7 F N# @+ G t! a1 hDundee Capital Markets continues "buy", 12-month target price is $2.30
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# A- J( a6 l% Q6 b' lLockerbie & Hole (LH : TSX : $6.00)% e; G! L' H: e9 B1 y4 F
Released Q3/09 results: very strong, focus should be on active backlog
+ [& P" h) @2 ~. W; CGMP Securities continues "buy", 12-month target price is $9.002 o( g" a8 Q Z' z7 ^5 Q4 x$ V _
Raymond James maintains "market perform", 6-12 month target price is $8.25
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Livingston Intl Income Fund (LIV.UN : TSX : $6.00)
; ?0 z0 N* x5 cReduced distributions by 70%+ O: r9 E& ^$ O' F( B& Y1 O6 z7 s
RBC Capital Markets maintains "outperform", no target price reported! Q( J- }7 A4 X8 c' G
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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Matrikon Inc. (MTK : TSX : $2.04)" K8 L$ F: |# r& d( G7 M
Released Q1/09 results: a little light, but still respectable5 q( {: Y% m# b# P8 ]
BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50
' f% A+ [: Q! E5 FParadigm Capital maintains "buy", 12-month target price is $4.00* o$ O* K+ v8 \& f x' J- F& Z6 I' Z
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)! G# u! M! @7 @) V
Expecting lower CFPU on higher taxes
, G# |9 t' ^( D+ hBMO Capital Markets continues "outperform", 12-month target price is $18.00
6 c% `9 ^5 _' ~RBC Capital Markets continues "sector perform", 12-month target price is $12.00
9 _8 V5 G6 X. ]8 @# B% Q; }1 {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)# n/ F; o- p! ?+ m! W6 c9 i) K: _5 |
Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain
# L1 o T9 n/ T/ z' OBlackmont Capital continues "hold", 12-month target price is reduced to $1.25
7 Q, d |3 s6 U0 l6 z* cCredit Suisse maintains "neutral", 12-month target price is US$1.00+ P( t$ u/ ~2 i
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80+ M5 F" V6 p* Y
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Neptune Tech & Bioresources (NTB : TSX-V : $0.79)
* ^; Y0 ~' X' `5 E [! t* pDietary supplement business facing headwinds
4 k p# ]# K# D iParadigm Capital maintains "buy", 12-month target price is reduced to $4.00 z* R% v3 P* \: P- W
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Open Range Energy (ONR : TSX : $1.18)$ ^5 }5 l1 B1 p% B/ L8 A( ~+ I
Provided operational update and F09 guidance
0 @6 {# M7 [2 v5 T) {! |" RHaywood Securities continues "sector outperform", 12-month target price is $3.25
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S0 m C- H1 A! aOsisko Mining (OSK : TSX : $3.13)8 d a9 }3 {! X6 p2 Z0 S
South Barnat resource around the corner3 W$ k3 ~+ e% I$ A# q& J
Paradigm Capital continues "speculative buy", 12-month target price is $4.75
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1 f3 K/ ?# o) a, I5 W8 qPan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)
$ Q! D8 @) l9 X) S, {2 cProvided operational update
! G1 O8 d, ?' L, s1 NBlackmont Capital maintains "hold", 12-month target price is lowered to $19.00
& f0 P' `2 S/ c1 X/ [TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
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( e1 }( d; @4 D! DParamount Resources (POU : TSX : $7.85)$ L5 t5 N+ t4 I5 \( f( Z
Provided operational update: Grande Prairie emerging as the key focus for F09
8 W0 B- ^$ T9 N) b+ K1 M0 QGMP Securities maintains "buy", 12-month target price is $12.00
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Rockwell Diamonds (RDI : TSX : $0.07)
. r4 ^+ p# q. S& TOperations starting to turn the corner
$ z, l3 |& n2 Y# h! }2 eRBC Capital Markets maintains "outperform", no target price reported
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$ T t( V* C) `* t; g2 rShaw Communications (SJR.B : TSX : $20.13)
9 U% H5 e/ y' V* mReleased Q1/09 results: in line, subscribers ahead$ J2 j% U4 i( j1 R. ? c0 F7 v& K
Credit Suisse maintains "neutral", 12-month target price is $25.50( p3 Q! O- m0 P" g- i" S7 N
GMP Securities continues "buy", 12-month target price is $26.50* {. z& {" w1 [/ d
3 \/ w. p3 n3 P0 [$ A: c" oSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)/ W7 P6 F' i0 i6 X
Held a sell-side lunch showcasing new U.S. team
- g, K1 i6 {/ X! Q) ~Scotia Capital Markets maintains "sector perform", 12-month target price is $33.006 A! y- u& C% h' t7 t) ?8 k8 ^5 G
: ?* [& R2 K C) PTrican Well Service (TCW : TSX : $6.93)7 q& N" Q, h& C6 J, {/ F- s! S D
Awarded Russian contracts% M. Q# V" U: n; y) d! i: q
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75
0 s/ t9 _1 ?! o1 T! k9 CRaymond James maintains "market perform", 6-12 month target price is lowered to $9.00
, k! z% h+ z! q; uRBC Capital Markets maintains "sector perform", 12-month target price is $10.008 P$ s5 O, H' e/ N
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Sino-Forest Corp. (TRE : TSX : $8.93)& Z o( _, U5 w$ a3 j& B! K$ [$ ]
Chinese furniture exports rose in November( d& K) a6 _& h& S8 b
Dundee Capital Markets maintains "buy", 12-month target price is $23.50
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UEX Corp. (UEX : TSX : $0.88)9 n5 \" X9 n6 e I. P& X5 T
Shea Creek's two largest deposits have become one$ P2 d p1 p/ Q
Dundee Capital Markets maintains "buy", 12-month target price is $2.75
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4 `1 l) ~5 X; R* c6 Y6 @* [Vero Energy (VRO : TSX : $4.72)
2 E# L m9 T" iReleased Q4/08 results: horizontal focus to continue in F090 g' s! `2 i5 Z; x9 K
Dundee Capital Markets continues "buy", 12-month target price is $8.00& }( `. u+ B# k/ z3 ]- }: c
GMP Securities continues "buy", 12-month target price is $7.50
5 r9 Z, x" a# j. f; pParadigm Capital continues "buy", 12-month target price is $12.00
/ @3 J1 x# x' H I7 g! f% cRBC Capital Markets maintains "outperform", 12-month target price is $8.50
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B& p! P: T4 X t8 HWi-Lan Inc (WIN : TSX : $1.75)0 v8 Q0 {* ?/ z1 X) f( x
Hit homerun with Samsung4 V0 k5 g2 ]. I$ p+ f$ s+ c
Paradigm Capital continues "buy", 12-month target price is $3.50 |
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