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Ear on the Street --- Jan. 16 20096 X n! q9 W$ K. L& l' }0 T
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Absolute Software (ABT : TSX : $3.36). N6 a; f5 S+ c$ ]3 q
Bracing for a tough few quarters/ g# Y* I. y8 L7 w" P
Canaccord Capital maintains "hold", 12-month target price is $4.50
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Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)
. N& R6 r9 q7 y0 H; h$ dGrowth outlook, challenging pipeline and high cost structure make future unclear
/ f* d/ Q: _2 R% ^( Q% l: C; GBlackmont Capital continues "hold", 12-month target price is lowered to $48.00/ c l8 u1 a, p; b' q
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.008 S! r! e$ I, k
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Astral Media (ACM.A : TSX : $22.98)" B9 U( m1 _. d( c7 Y- X
Released Q1/09 results: strong, in light of challenging operating environment. m, i2 i( A, F* q- J4 R5 G
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00) `" O" R7 ~) B' S
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.009 g0 _5 R4 {( K3 g r
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
b* R i' {7 S* T% KRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00- G6 I4 i7 e. D( X$ d- c
Scotia Capital Markets continues "sector outperform", 12-month target price is $30.00
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Agnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)1 {9 S. L# q }; p' t
Well positioned with gold production forecast to double this year and next, |; p& d+ \% s9 Z% u
Blackmont Capital continues "buy", 12-month target price is lowered to $83.00& B; U+ |7 D( q/ [& x, m
TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00
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4 i+ ~8 A1 g' l$ BARC Energy Trust (AET.UN : TSX : $17.15)% E$ J+ j& R" w! Z
Reduced distributions by 20%; capex also cut' u6 U" B4 |7 D
RBC Capital Markets continues "outperform", 12-month target price is $19.00
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4 ]8 |1 I2 }0 m5 [Andean Resources (AND : TSX : $0.75)( ^+ b0 h8 `( @( b' m6 J" [) V# D) }
Announced F09 outlook
9 q$ [- u7 m, B7 O* uParadigm Capital continues "speculative buy", 12-month target price is $2.25 Z3 h/ y) F7 H0 |
TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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Bombardier Inc. (BBD.B : TSX : $4.65)) J$ K K3 ~$ |! b5 Q
Rising challenges in Aerospace3 {5 U5 P- `3 R
GMP Securities continues "buy", 12-month target price is $8.00
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Bank of Montreal (BMO : TSX : $31.84)
3 n$ [" R8 ~- D7 O4 |. `6 t: K3 h, j9 aAcquiring AIG's Canadian life insurance business8 H4 X2 _$ U4 f7 U: Y
TD Newcrest continues "hold", 12-month target price is $37.00
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Cogeco Cable (CCA : TSX : $33.37); f( ^! p, r1 Z
Q1 review: Canada results encouraging, but Portugal remains a drag4 z3 t' o& O" ~% b
BMO Capital Markets maintains "outperform", 12-month target price is $46.00, ^9 r: N G4 c: {* v3 M9 i* z
Desjardins Securities continues "top pick", 12-month target price is $40.00
3 c, y! o' u7 O+ b4 HRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00; O% k v, z/ l" O
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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& A2 K- ~3 o X2 }+ z! oCorridor Resources (CDH : TSX : $2.45)0 u& ?/ w& L+ x, ^0 i6 {6 L9 r
Capital budget set to expected cash flow; production guidance lowered
$ R; Q8 l( h; l7 GRBC Capital Markets maintains "outperform", 12-month target price is $4.25 n, L2 \5 U4 j' G
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COGECO Inc. (CGO : TSX : $25.14), {) l* u" _ }# i9 C3 q# a- _2 [/ d
Strong radio and cable drives 39% EPS growth$ S( d. v" e* }& n& g9 o1 e9 G% n
Scotia Capital Markets continues "sector perform", 12-month target price is $45.00
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CanWest Global Communications (CGS : TSX : $0.51)
3 k7 c/ ^2 c% k8 S. A2 jTaking action to address tough operating environment% c: S; i5 Y8 L& [7 b" C5 N4 Y9 i
BMO Capital Markets maintains "underperform", no target price reported% n9 \* I* N1 s8 A
Credit Suisse maintains "neutral", 12-month target price is $1.00
: G3 l. n3 l6 XGMP Securities continues "reduce", 12-month target price is $0.50/ Z4 E, {8 }* W: e0 o) a! T
RBC Capital Markets continues "underperform", 12-month target price is $0.75/ W! B, h) |8 T" |, ?" s
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50. ^1 a2 H& h9 ]) \. b9 Q' A. Z- b" R
' C0 w3 e' d/ h2 j0 o" C% q* bCorus Entertainment (CJR.B : TSX : $12.47)
' ?7 c9 h% V# O3 T* |Q1 revenues in line, EPS beat+ a, S. E* t; {& q) A: ]: n5 U
BMO Capital Markets continues "market perform", 12-month target price is cut to $15.00! ~8 [/ \, ]- ?: b+ l, _9 b
Credit Suisse continues "outperform", 12-month target price is $20.007 Q) \# S& s' V4 r6 A7 P4 j$ R3 t
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.002 p: E" r# R6 f6 o. H
GMP Securities maintains "buy", 12-month target price is reduced to $17.00
8 _. a/ P" K$ y6 z8 K7 F* iRBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50
" B! @% @ ?1 t$ O& K& C: kScotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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/ v9 [. v+ B9 _; _# W% v: _Calloway REIT (CWT.UN : TSX : $11.84)
$ S/ {+ b. k0 \Held investor day
/ s% @ E( e+ s1 Y4 s% B' @% i3 AScotia Capital Markets maintains "sector underperform", 12-month target price is $11.006 r# `: g6 I$ k" f2 e' ?2 b! E
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Daylight Resources Trust (DAY.UN : TSX : $7.77)# O: E# Q# B+ L0 K0 ~
Reduced distributions by 38%; guided for lower capex4 P8 i: t, i0 |' M! }
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.001 r; g! B0 j/ S* V+ i$ i+ p
Dundee Capital Markets continues "buy", 12-month target price is $12.00
F6 J: [: z3 b$ i5 V. z9 lTD Newcrest continues "hold", 12-month target price is $7.50( A+ J: H& }! N7 p
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EXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)
% ^, H& U6 f/ a" l+ O5 \- ]Steady market and currency tailwind7 P! P/ H) f3 k/ O9 Y- W# A8 w2 w w
TD Newcrest maintains "buy", 12-month target price is US$5.00) {# d3 d7 w' F6 K* T) _$ F( D4 q
9 k* p5 m) e: N1 o, Y7 q# ^! Q iGoldcorp Inc. (G : TSX : $29.74)3 U. [( W8 K) K$ W! j
Revised commodity forecasts3 s4 n- r5 B' t8 l M. N" C
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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7 K& E' B: x3 s3 R5 U! BHeritage Oil (HOC : TSX : $3.77)
6 j, @3 @4 Q% i5 t% DAnnounced Ugandan commerciality on exploration success
1 y9 o4 M8 ~& p) H/ FTD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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; X9 s" `9 ?1 A/ A- f& r8 U( ?Harry Winston Diamond (HW : TSX : $4.98), @: D3 d# R. Q: b& O! c
Retail division suffers
|* ?) E" @! `) o; Z8 m7 x `Desjardins Securities maintains "buy", 12-month target price is $12.606 \0 s! D5 P4 Z2 R- {" ?
4 t0 b( k. k# w8 J. J7 X3 xLaramide Resources (LAM : TSX : $1.84)$ ^' Q! k! n3 r$ m, z, _4 A- \
Westmoreland provided more high grade at Redtree's Jack Lens
* q6 \8 W- W9 \( dDundee Capital Markets continues "buy", 12-month target price is $2.30
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1 R7 r/ ~' b* u( S' g; {Lockerbie & Hole (LH : TSX : $6.00)
2 `8 ?. Q! M: h4 c+ }Released Q3/09 results: very strong, focus should be on active backlog
. K0 [; P0 I8 JGMP Securities continues "buy", 12-month target price is $9.00/ f* [3 K5 s! j$ d4 j. Z
Raymond James maintains "market perform", 6-12 month target price is $8.254 m# E7 i; C/ V* K, V
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Livingston Intl Income Fund (LIV.UN : TSX : $6.00)
. X( A/ e( Z H) j6 L1 t% l. {Reduced distributions by 70%
2 z, }, j" U. Y' g/ D- wRBC Capital Markets maintains "outperform", no target price reported
$ \; z) X9 R6 L: WScotia Capital Markets continues "sector underperform", 12-month target price is $6.500 }4 A' O4 e' a5 B& [3 s( q
1 p5 N' ]4 {3 d* UMatrikon Inc. (MTK : TSX : $2.04)
+ N/ M) o- L* g- l. tReleased Q1/09 results: a little light, but still respectable" j3 A! j$ _% k/ m
BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50& @9 K2 O- D( ?+ t/ b
Paradigm Capital maintains "buy", 12-month target price is $4.00- m9 X( D: ^: b& L' j/ W/ R% x0 S
" `- C" d! ~7 l8 U& W( VMullen Group Income Fund (MTL.UN : TSX : $10.97)
9 l5 K$ U/ B* ]( j7 FExpecting lower CFPU on higher taxes$ `5 N. U: U- z) |. X( a
BMO Capital Markets continues "outperform", 12-month target price is $18.00
+ L: V9 d7 e3 ~; b$ GRBC Capital Markets continues "sector perform", 12-month target price is $12.009 I, B2 _0 D+ W: a* V" A' q# W
TD Newcrest continues "buy", 12-month target price is $17.00
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: l4 \) c o) r, B8 qNorthgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)
1 Y4 e2 H E' g. z W. kReleased Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain
* C; o) R5 Q* q1 @9 tBlackmont Capital continues "hold", 12-month target price is reduced to $1.25
, f* F0 |( g0 j! c" QCredit Suisse maintains "neutral", 12-month target price is US$1.008 u, C0 ^* i T& r: v+ b
Scotia Capital Markets continues "sector underperform", 12-month target price is US$0.80: }8 }( ^7 W" Q7 b# Y% t
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Neptune Tech & Bioresources (NTB : TSX-V : $0.79)% N6 o; g: v3 F' J6 g8 m
Dietary supplement business facing headwinds7 G4 Q* h1 D" x. f6 b
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00
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+ j$ A; y, a; o% f- G* nOpen Range Energy (ONR : TSX : $1.18) D2 b4 H( R/ @: H
Provided operational update and F09 guidance
; H2 R5 T3 D! H( X6 Z. UHaywood Securities continues "sector outperform", 12-month target price is $3.25
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Osisko Mining (OSK : TSX : $3.13)
' k% d3 V, l- s; kSouth Barnat resource around the corner
$ Y5 |- F; R8 O( v3 i; oParadigm Capital continues "speculative buy", 12-month target price is $4.75/ [6 h% l! Z4 R, Z, i& ^4 K
4 H+ C' b6 T8 r1 `6 NPan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75), P: I- R [) k
Provided operational update
( l& k- e& R3 w- E& u, FBlackmont Capital maintains "hold", 12-month target price is lowered to $19.00+ e5 L4 b/ w6 }4 a
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50) k1 z$ ^$ a7 g9 b8 g
9 k0 l8 a+ n5 v# F1 JParamount Resources (POU : TSX : $7.85)+ f/ J0 [* q( |0 E! P
Provided operational update: Grande Prairie emerging as the key focus for F09, f$ M! @$ m, @7 H
GMP Securities maintains "buy", 12-month target price is $12.00! r7 t M# W4 N) ]$ k4 n4 e
; H$ D4 m- w8 H lRockwell Diamonds (RDI : TSX : $0.07)5 h) U k5 B, Z* O9 z: p, y
Operations starting to turn the corner
. y7 ]: j! z% `1 ? P3 v/ pRBC Capital Markets maintains "outperform", no target price reported; s0 j3 G; h- Q) K8 D7 v# ~/ b
0 R) Q; j, Y2 u: tShaw Communications (SJR.B : TSX : $20.13)
# [' n' f' Y8 o: {Released Q1/09 results: in line, subscribers ahead4 N# ]; E" ^- j- f
Credit Suisse maintains "neutral", 12-month target price is $25.50
% |- O( Z- O9 D8 i% _GMP Securities continues "buy", 12-month target price is $26.50
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; w" h5 |6 H0 uSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)) S, U* V) U' D; H) o/ E
Held a sell-side lunch showcasing new U.S. team- h% \1 q; R2 }/ z7 w, u
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.009 ]* m7 d% x# j# V7 R" g
4 r7 D8 l' m& P( QTrican Well Service (TCW : TSX : $6.93)
4 Q# W5 w0 \$ I( a3 r# X, ~Awarded Russian contracts& m: |& b& h6 G& g* }, q
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75
5 o$ M7 R2 `" e- V/ \# LRaymond James maintains "market perform", 6-12 month target price is lowered to $9.00
' {* F$ G, K7 B1 V0 t) \ yRBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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Sino-Forest Corp. (TRE : TSX : $8.93)- t n* v5 C' E: R6 o' j: ~9 g
Chinese furniture exports rose in November
" o4 P! N* Q4 yDundee Capital Markets maintains "buy", 12-month target price is $23.50* w5 b3 `6 e D3 M p
: m% m4 t" {4 E2 I$ o7 J3 CUEX Corp. (UEX : TSX : $0.88)
1 h! H1 \- D; W& l: BShea Creek's two largest deposits have become one' F$ f2 U; K4 w4 m8 M2 e
Dundee Capital Markets maintains "buy", 12-month target price is $2.754 F- x4 |( C7 w' J# e
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Vero Energy (VRO : TSX : $4.72)
% a/ _* j1 C+ I+ F) u+ |Released Q4/08 results: horizontal focus to continue in F09
+ A& {1 g, Q8 g6 [4 bDundee Capital Markets continues "buy", 12-month target price is $8.00' q* M# h! |! M$ y1 F7 [* r6 C
GMP Securities continues "buy", 12-month target price is $7.50
Z1 C4 _; }' H7 V: [$ GParadigm Capital continues "buy", 12-month target price is $12.006 o+ g" W, s! ]: o5 b) z$ ?
RBC Capital Markets maintains "outperform", 12-month target price is $8.50
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' j$ h7 a! b' g# x( ]Wi-Lan Inc (WIN : TSX : $1.75)' c) U) g1 N9 ~/ E
Hit homerun with Samsung
- y K- z p( T' LParadigm Capital continues "buy", 12-month target price is $3.50 |
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