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Ear on the Street --- Jan. 16 2009) W) |, d" b2 B5 `
9 u3 R& d! z0 A2 r, C6 zAbsolute Software (ABT : TSX : $3.36)
) v* @1 P0 {) A8 I; f, R# G) OBracing for a tough few quarters
* ?. G7 X: O5 F9 |4 gCanaccord Capital maintains "hold", 12-month target price is $4.50
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8 F! P6 t9 h& o) y) dBarrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45): o5 p: z$ g6 ?3 T$ K" w) R; n o
Growth outlook, challenging pipeline and high cost structure make future unclear
/ n$ c& v! F& B0 F' P3 \5 VBlackmont Capital continues "hold", 12-month target price is lowered to $48.00
] s( R0 q. S; N2 sTD 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)* P/ b( V5 \' F9 s8 j- p
Released Q1/09 results: strong, in light of challenging operating environment
! f: a0 m- e: F) D, Z1 NBMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00& m) O5 U- \5 h) l8 t$ \
Desjardins Securities maintains "buy", 12-month target price is slashed to $28.007 s1 V% v7 m5 T8 m: d3 E
GMP Securities maintains "buy", 12-month target price is reduced to $30.00 l# ?5 |9 o O& i! H( n1 ^
RBC Capital Markets continues "outperform", 12-month target price is raised to $31.00! E! V1 s6 w$ Z- g/ T
Scotia Capital Markets continues "sector outperform", 12-month target price is $30.00
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( |( c, f9 C3 h+ Q* C, bAgnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07)6 G' Q {, n2 d& I$ d. T
Well positioned with gold production forecast to double this year and next
4 O1 b+ W* z, ^" \Blackmont Capital continues "buy", 12-month target price is lowered to $83.00
+ O) m& F! y9 p7 C' u, BTD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00
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ARC Energy Trust (AET.UN : TSX : $17.15)
. @' f6 e& h' f0 N8 B( F8 mReduced distributions by 20%; capex also cut
+ |- K- R$ J- B: o: O, dRBC Capital Markets continues "outperform", 12-month target price is $19.00
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Andean Resources (AND : TSX : $0.75); L' L( F8 ^/ f K
Announced F09 outlook; o$ O# E% H8 w+ f
Paradigm Capital continues "speculative buy", 12-month target price is $2.25
3 N: ^6 L' b9 ^4 F [TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00) a' U6 Q! z: X6 r. j2 q
6 a3 M+ _, j" r+ }7 O% yBombardier Inc. (BBD.B : TSX : $4.65), N7 a9 u- x$ l6 N
Rising challenges in Aerospace* O5 D2 s0 m: ?3 r3 V% k: U. V
GMP Securities continues "buy", 12-month target price is $8.00
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Bank of Montreal (BMO : TSX : $31.84)
8 f6 _! f9 t7 O. G! _, kAcquiring AIG's Canadian life insurance business
0 e7 c0 H" N0 o0 |TD Newcrest continues "hold", 12-month target price is $37.00
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Cogeco Cable (CCA : TSX : $33.37)- n2 t. ^- Q% c5 A8 j1 T* P
Q1 review: Canada results encouraging, but Portugal remains a drag. _6 C# J+ ]9 C5 L) p0 S/ T0 i4 E: z
BMO Capital Markets maintains "outperform", 12-month target price is $46.00
, {6 ^9 f0 K7 @+ mDesjardins Securities continues "top pick", 12-month target price is $40.00
# V$ S8 P0 E( H9 N mRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00& _* d/ r6 {! Q x
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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Corridor Resources (CDH : TSX : $2.45)
; y+ s# P ]# T0 ~+ ACapital budget set to expected cash flow; production guidance lowered
9 B' ], Z* a/ E! V3 g) y# Y9 PRBC Capital Markets maintains "outperform", 12-month target price is $4.25
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COGECO Inc. (CGO : TSX : $25.14)7 D% R4 }. ~: d0 _ E
Strong radio and cable drives 39% EPS growth
- n2 O0 T8 C9 I, E# IScotia Capital Markets continues "sector perform", 12-month target price is $45.00
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CanWest Global Communications (CGS : TSX : $0.51)
" y4 p7 S; s$ Z- A9 zTaking action to address tough operating environment
) u1 R0 ^( e! Y0 R* x( Z1 f1 uBMO Capital Markets maintains "underperform", no target price reported5 k: l% C1 p: X0 Q* H
Credit Suisse maintains "neutral", 12-month target price is $1.00
2 K$ d' Y7 p) N L' ]GMP Securities continues "reduce", 12-month target price is $0.504 _; n: _$ x, W
RBC Capital Markets continues "underperform", 12-month target price is $0.75
; `& V2 g8 _6 S( z" \Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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Corus Entertainment (CJR.B : TSX : $12.47)( E7 K, V+ W6 K
Q1 revenues in line, EPS beat+ @, G" b8 _( H8 l6 e8 V9 L2 o
BMO Capital Markets continues "market perform", 12-month target price is cut to $15.004 X( F- g: N) C/ X4 X% M
Credit Suisse continues "outperform", 12-month target price is $20.00& w x6 Y h5 j0 w) j, u* c/ A6 D
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00 y) }6 s/ J9 { x1 h/ q; ~/ f: i
GMP Securities maintains "buy", 12-month target price is reduced to $17.00
% r* r: e" Y5 t( |, L$ qRBC Capital Markets maintains "outperform", 12-month target price is raised to $18.501 A/ G, Q4 h1 @* y! ^2 N: g
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00$ {0 v% o6 I a) u+ a- H# v T4 ]
- D: m; z4 J6 ^. ^% B( ICalloway REIT (CWT.UN : TSX : $11.84)7 q0 S$ I9 h. L; G5 r& Q
Held investor day- S4 g% [: E: ?+ C/ A
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00
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Daylight Resources Trust (DAY.UN : TSX : $7.77)
# s5 e! W, ^7 v6 V) |( p5 F" LReduced distributions by 38%; guided for lower capex/ e4 P8 G3 i G! I ^/ f2 _) X9 M1 C
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00
4 Y# ^, m1 g/ b( y9 O5 p8 |; z# F1 DDundee Capital Markets continues "buy", 12-month target price is $12.00
; T/ c7 H, B' a; L2 G! T' X0 e& FTD Newcrest continues "hold", 12-month target price is $7.500 Q* s$ Y/ ~2 Y
. u- y+ |$ L; D/ GEXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90); r+ b. _$ C+ Y/ x; F1 B
Steady market and currency tailwind
4 c" |1 T% W: vTD Newcrest maintains "buy", 12-month target price is US$5.00: b$ I+ E7 B) ^2 b; }0 g8 E
( j. i# A; a$ eGoldcorp Inc. (G : TSX : $29.74)
1 N2 a8 B6 u9 H& H% VRevised commodity forecasts3 R" {) y6 Z* S$ s
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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) h. S* S: w$ {* q$ {/ fHeritage Oil (HOC : TSX : $3.77)
& o8 a+ L- U; r8 eAnnounced Ugandan commerciality on exploration success. F% Z' t% ]5 @
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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Harry Winston Diamond (HW : TSX : $4.98): a- k K- \' q$ T9 ^
Retail division suffers3 u; o" r' }& J1 i( E! {6 I- W2 E
Desjardins Securities maintains "buy", 12-month target price is $12.60( v8 f$ ~) v! y& t- h# N' O/ \0 i
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Laramide Resources (LAM : TSX : $1.84)1 M P/ m3 E( A/ R) ?6 a6 e3 A
Westmoreland provided more high grade at Redtree's Jack Lens% z4 Q7 j j: [% J7 ]7 B
Dundee Capital Markets continues "buy", 12-month target price is $2.30% A( h0 f; U& t2 W0 x
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Lockerbie & Hole (LH : TSX : $6.00)
1 ?6 z3 y1 l! TReleased Q3/09 results: very strong, focus should be on active backlog
" N% R ^$ `: u. E' D) GGMP Securities continues "buy", 12-month target price is $9.00
% L9 q* `! c0 w/ S- R4 b2 F- c' Y+ BRaymond James maintains "market perform", 6-12 month target price is $8.25& f% ~0 |8 U! r
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Livingston Intl Income Fund (LIV.UN : TSX : $6.00)
; \) `, |( ^6 EReduced distributions by 70%
5 `( R8 _$ N) [+ u! _RBC Capital Markets maintains "outperform", no target price reported' e& ]; n/ z7 u" @$ V: f
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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2 A9 t9 I' {! f; {! c, @( eMatrikon Inc. (MTK : TSX : $2.04)0 z- B/ W7 Q! `1 i+ E
Released Q1/09 results: a little light, but still respectable6 j: c/ \ e7 a5 a# n
BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50
, X! O. G4 T+ |% E4 K: h$ XParadigm Capital maintains "buy", 12-month target price is $4.00
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( D" |9 t x. s7 {. H3 v: GMullen Group Income Fund (MTL.UN : TSX : $10.97)
) C7 i# b# u, m( A% V# BExpecting lower CFPU on higher taxes8 T1 p3 n7 _. i0 h
BMO Capital Markets continues "outperform", 12-month target price is $18.00& K0 G+ F+ ?) h. a1 M
RBC Capital Markets continues "sector perform", 12-month target price is $12.00
% t7 B& P! H1 R" tTD Newcrest continues "buy", 12-month target price is $17.007 M* f9 w; z2 f2 P D! Q D! c& G
' H/ j1 x* Y9 }$ fNorthgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)
8 u5 E7 v P( ?* M5 n9 J# RReleased Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain$ h$ Q8 a+ V( M! }
Blackmont Capital continues "hold", 12-month target price is reduced to $1.25! {; f9 |+ r, ~% S
Credit Suisse maintains "neutral", 12-month target price is US$1.00
" d4 z0 o% L8 F7 B1 U# n* \+ j; i& r4 mScotia Capital Markets continues "sector underperform", 12-month target price is US$0.80
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, Z8 t4 s4 U9 |4 aNeptune Tech & Bioresources (NTB : TSX-V : $0.79)
7 |1 ^+ x5 g' i x H/ Q, M& `Dietary supplement business facing headwinds. \* ?' ^& w; g F. y& x. m
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00
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Open Range Energy (ONR : TSX : $1.18)
/ h5 T. U, \5 dProvided operational update and F09 guidance7 L6 f! C W: C5 z
Haywood Securities continues "sector outperform", 12-month target price is $3.25
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% C+ S8 u9 }% COsisko Mining (OSK : TSX : $3.13)
$ f- Q5 o# L& _! QSouth Barnat resource around the corner# ?7 n: e2 Z. e9 F) l5 c( o
Paradigm Capital continues "speculative buy", 12-month target price is $4.75
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* q# m; ~1 }3 ]! ]Pan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)
" X/ h- l/ n: U* ^. YProvided operational update
" t( H- i" }4 P% ?" o& @& e* _3 y2 ]/ lBlackmont Capital maintains "hold", 12-month target price is lowered to $19.000 Y) Q) i1 N% @1 R- x, H2 } m1 B* C+ q* g
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
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Paramount Resources (POU : TSX : $7.85)* u2 }2 I( x3 n/ L" c
Provided operational update: Grande Prairie emerging as the key focus for F09
0 j6 S$ h' O( u4 z2 H% p8 wGMP Securities maintains "buy", 12-month target price is $12.00/ b1 Z- v& }: }& g4 j) J9 a7 ]
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Rockwell Diamonds (RDI : TSX : $0.07)
' B& y1 [$ e c" E! Y* c, kOperations starting to turn the corner$ F+ T5 ?3 G7 l3 K" a, m
RBC Capital Markets maintains "outperform", no target price reported
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; q3 {6 T3 V2 x0 u, L! G) @/ xShaw Communications (SJR.B : TSX : $20.13)/ Y7 ~4 F# r+ s- B- F) _; g
Released Q1/09 results: in line, subscribers ahead
# ^9 x7 X: O8 w1 Q3 I! sCredit Suisse maintains "neutral", 12-month target price is $25.50
' r7 Q$ {% D1 _2 {6 bGMP Securities continues "buy", 12-month target price is $26.50
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4 P2 k0 p$ M" i+ K5 E# j4 z# NSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)
. q2 l: o3 ^9 ^" b8 v$ u( x4 NHeld a sell-side lunch showcasing new U.S. team
; _5 i' _5 U) u8 s |! y: u4 nScotia Capital Markets maintains "sector perform", 12-month target price is $33.00
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7 y% X+ a: b0 q7 }/ w5 ~: dTrican Well Service (TCW : TSX : $6.93): d1 v4 y6 D }* g
Awarded Russian contracts
! p% ~" Y3 w ?& O* kBlackmont Capital maintains "hold", 12-month target price is reduced to $8.75
' O5 C: I8 v( C; C# x: U' PRaymond James maintains "market perform", 6-12 month target price is lowered to $9.00* S# n/ w. W6 S$ c8 Q4 m6 q5 z: O% Q( I
RBC Capital Markets maintains "sector perform", 12-month target price is $10.001 M3 ^8 @/ w* U. q. z
, Q4 q) q P5 {2 w% H( p" h6 gSino-Forest Corp. (TRE : TSX : $8.93)
$ z8 ^% b; ?. z/ V, G/ n6 |/ pChinese furniture exports rose in November
- b1 x8 y( Y- RDundee Capital Markets maintains "buy", 12-month target price is $23.50$ D' W* J& r" @, z5 }
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UEX Corp. (UEX : TSX : $0.88): v7 `9 w9 w3 ^/ Q, Q8 R; M
Shea Creek's two largest deposits have become one) d4 V& U$ R* m y W& T
Dundee Capital Markets maintains "buy", 12-month target price is $2.75
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Vero Energy (VRO : TSX : $4.72)
% l T' }. L+ Q" @Released Q4/08 results: horizontal focus to continue in F09
1 q+ C& u- @( t; k# [3 lDundee Capital Markets continues "buy", 12-month target price is $8.00# `5 X% M$ A# S0 n9 T
GMP Securities continues "buy", 12-month target price is $7.50
6 B1 U% F) Q/ b iParadigm Capital continues "buy", 12-month target price is $12.00
! ~& j( r5 R% G& t$ V% oRBC Capital Markets maintains "outperform", 12-month target price is $8.50
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Wi-Lan Inc (WIN : TSX : $1.75)
% s {1 n0 q! ] @; ^# SHit homerun with Samsung
7 d2 w0 v( n# f6 HParadigm Capital continues "buy", 12-month target price is $3.50 |
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