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Ear on the Street --- Jan. 16 2009# V1 f( w3 A( i+ \& `4 }" v
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Absolute Software (ABT : TSX : $3.36)* S, [0 }- h4 u. ]5 s" H
Bracing for a tough few quarters6 l/ b" Q+ E5 ?* _! ]6 ]
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)7 l- Y0 B2 Y1 b8 A0 i7 K
Growth outlook, challenging pipeline and high cost structure make future unclear7 i+ D( l, G7 k6 b
Blackmont Capital continues "hold", 12-month target price is lowered to $48.00+ p- w0 p8 K, ]. M2 c k
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.00
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# r9 u7 W& f& v+ I$ X, O! @4 SAstral Media (ACM.A : TSX : $22.98)
- W& u+ r; t5 B: n- Y2 vReleased Q1/09 results: strong, in light of challenging operating environment4 b' C/ T# n$ i7 u$ x& A
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00
# K# D3 S: ?/ H! B$ {Desjardins Securities maintains "buy", 12-month target price is slashed to $28.00# i0 X; b( C4 I( Q
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
3 M9 v2 t+ V- _1 j4 C7 D& aRBC Capital Markets continues "outperform", 12-month target price is raised to $31.003 T" z4 W- v6 E7 v
Scotia Capital Markets continues "sector outperform", 12-month target price is $30.005 R& D6 J+ s J# Z0 c: _
! L4 M3 J9 i7 P; x: a2 dAgnico-Eagle Mines (AEM : TSX : $57.00 | NYSE : US$45.07). i u' C8 M9 G* a
Well positioned with gold production forecast to double this year and next
, A5 q( f3 T0 n0 d4 ^. yBlackmont Capital continues "buy", 12-month target price is lowered to $83.00
, J" Y. H4 z8 F2 d9 vTD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00
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* W- v% D8 U2 ^% tARC Energy Trust (AET.UN : TSX : $17.15)0 [. Q8 f" ` x7 h4 k# z' F# K7 L% ?
Reduced distributions by 20%; capex also cut
1 _9 {+ `0 \/ X/ S M2 U( ^RBC Capital Markets continues "outperform", 12-month target price is $19.00
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9 ?' V4 n3 F; |% r! tAndean Resources (AND : TSX : $0.75)" t6 m3 Q2 _- {: s# U+ f
Announced F09 outlook( D! e1 p8 R) W% l! b! c/ G
Paradigm Capital continues "speculative buy", 12-month target price is $2.252 Q3 l4 R1 {6 J$ T+ Y- q9 q
TD Newcrest downgrades to "hold", 12-month target price is cut to $1.00
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: T4 i T6 w. [, l: JBombardier Inc. (BBD.B : TSX : $4.65)
' q; W3 B; d: S/ d( |! YRising challenges in Aerospace* ?2 ?- d+ T% n* O9 h; } Z4 @
GMP Securities continues "buy", 12-month target price is $8.00
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0 U3 K( y" _+ y' LBank of Montreal (BMO : TSX : $31.84)7 N! @+ z: D! c* ?/ z; {& q
Acquiring AIG's Canadian life insurance business
+ J3 v9 J ]( y$ X( r: wTD Newcrest continues "hold", 12-month target price is $37.00% A# ~0 b# Y1 l) n* [
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Cogeco Cable (CCA : TSX : $33.37)
7 t7 P7 e) U: pQ1 review: Canada results encouraging, but Portugal remains a drag
/ h2 p; G* a" J% g2 T9 T! I! S- IBMO Capital Markets maintains "outperform", 12-month target price is $46.00
& a- V/ H8 C$ _( G$ X+ wDesjardins Securities continues "top pick", 12-month target price is $40.00
4 |6 T) w% f* l ]5 K tRBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.001 `1 ]6 e2 w. u; B
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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Corridor Resources (CDH : TSX : $2.45)
4 H( t' ~1 d0 u. \Capital budget set to expected cash flow; production guidance lowered" V3 c# w d& w. Q, L/ U6 Q
RBC Capital Markets maintains "outperform", 12-month target price is $4.25
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COGECO Inc. (CGO : TSX : $25.14)3 c Q3 N1 K, m$ K# G6 w
Strong radio and cable drives 39% EPS growth
" P+ a2 a2 u8 X1 n, F4 Y" dScotia Capital Markets continues "sector perform", 12-month target price is $45.00
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CanWest Global Communications (CGS : TSX : $0.51)1 V# s; y% K7 U
Taking action to address tough operating environment! z2 I/ H' V1 w7 {( N
BMO Capital Markets maintains "underperform", no target price reported/ Q. ^# M+ l% B/ e& ~
Credit Suisse maintains "neutral", 12-month target price is $1.00- w$ \; L7 }. T# ^$ Y: @
GMP Securities continues "reduce", 12-month target price is $0.50
# V! R3 k3 b9 N) t4 ERBC Capital Markets continues "underperform", 12-month target price is $0.75- S5 S) C m! }0 z8 f" [
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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4 k& a ?, D$ g. b+ I1 lCorus Entertainment (CJR.B : TSX : $12.47)2 Z; M, M1 A7 O
Q1 revenues in line, EPS beat
; A' u% a$ l% y) [BMO Capital Markets continues "market perform", 12-month target price is cut to $15.00, Y5 ~5 v8 N' m" O/ {
Credit Suisse continues "outperform", 12-month target price is $20.00/ ^7 x6 O' R$ e) I* u. j) Q( }, o
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00. r% \. b# }6 _" o& N
GMP Securities maintains "buy", 12-month target price is reduced to $17.007 R# x( n5 B# p3 @3 \+ l7 T7 ^' [
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50
1 O. D: y. h/ ?' ~, y0 q8 AScotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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( \4 ?4 v2 `2 u2 {4 |! JCalloway REIT (CWT.UN : TSX : $11.84)3 R2 x7 z4 a% F& h
Held investor day$ n: {9 u! X# X
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00: E6 i, `* g6 L/ M# s) @
, e9 P, a% z4 [! H: Y# jDaylight Resources Trust (DAY.UN : TSX : $7.77)' e3 J% J4 h/ d [
Reduced distributions by 38%; guided for lower capex
: y3 X1 E' S+ X N. QBMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00
; t s" U* K) h6 _( i4 f/ tDundee Capital Markets continues "buy", 12-month target price is $12.00
1 v5 w. I8 Z0 n' `% T, ~TD 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$2.90)1 I# R/ N( c8 U" r' c4 \6 v4 f6 C
Steady market and currency tailwind
. E: h) g0 L0 G$ |TD Newcrest maintains "buy", 12-month target price is US$5.000 W5 }. j6 T% e. o
# E+ A) B2 [0 H3 NGoldcorp Inc. (G : TSX : $29.74)1 C% y) r: y$ K$ `/ D! I% ^# D
Revised commodity forecasts
3 y& ?/ ]% S( T dBlackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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Heritage Oil (HOC : TSX : $3.77)
# c& b, s% {8 W# U* ]# aAnnounced Ugandan commerciality on exploration success
& C. S$ m/ r- ~% Z" q K+ ~: S4 dTD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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/ t: N' z1 z7 R5 f( E, ]# VHarry Winston Diamond (HW : TSX : $4.98)1 g' v [, b9 G' F: T0 L; w& ?" u
Retail division suffers
% [1 ^- Q8 K$ m$ L3 v$ ?3 wDesjardins Securities maintains "buy", 12-month target price is $12.60
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Laramide Resources (LAM : TSX : $1.84)# C5 u9 F. k0 u/ C- O
Westmoreland provided more high grade at Redtree's Jack Lens% }8 A+ f* }5 {, k2 Q4 t
Dundee Capital Markets continues "buy", 12-month target price is $2.305 L! W2 {0 B8 w5 A
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Lockerbie & Hole (LH : TSX : $6.00)
8 f' v# J2 S2 r+ UReleased Q3/09 results: very strong, focus should be on active backlog
+ J2 l5 F3 i9 K$ ^0 b* rGMP Securities continues "buy", 12-month target price is $9.00/ e4 L3 u+ G; ?- {3 O- [
Raymond James maintains "market perform", 6-12 month target price is $8.25$ f8 v7 \3 w2 @
* m. U' i s% dLivingston Intl Income Fund (LIV.UN : TSX : $6.00)
! |* h) W7 ~6 W' a: [4 @! d! ?Reduced distributions by 70%% @0 B; F- F# O! `5 ?- P
RBC Capital Markets maintains "outperform", no target price reported
$ U: d3 G+ ~, v6 d9 A2 I+ G9 rScotia Capital Markets continues "sector underperform", 12-month target price is $6.50
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Matrikon Inc. (MTK : TSX : $2.04)+ T4 | Y9 s& S0 Z9 |9 O% H) O
Released Q1/09 results: a little light, but still respectable
) c$ e8 n' n' a7 RBMO Capital Markets continues "outperform", 12-month target price is lowered to $2.50
, U. Y$ ^/ s% m8 w- BParadigm Capital maintains "buy", 12-month target price is $4.00. Z% `% ^$ b4 q# ^! i7 d8 C* t
' j" ]5 m) [: p2 y6 @Mullen Group Income Fund (MTL.UN : TSX : $10.97)
& s; M/ ]- ?% W) c% s$ N2 hExpecting lower CFPU on higher taxes
5 _1 F9 e* @" gBMO Capital Markets continues "outperform", 12-month target price is $18.00
, G1 u G3 p5 L8 W# U! J! QRBC Capital Markets continues "sector perform", 12-month target price is $12.005 n m. T8 V& Q! N' k- `& N4 N8 C
TD Newcrest continues "buy", 12-month target price is $17.006 [& i" D9 j5 y; d. u! T. ^* {3 H6 Q
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Northgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)
1 v8 F8 W6 m+ l8 K rReleased Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain% v+ t4 y. C# [4 {
Blackmont Capital continues "hold", 12-month target price is reduced to $1.250 ]! h; y5 T8 S
Credit Suisse maintains "neutral", 12-month target price is US$1.00
9 S- J/ a ]: s% b9 h, M8 s- f/ ?/ SScotia Capital Markets continues "sector underperform", 12-month target price is US$0.80
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Neptune Tech & Bioresources (NTB : TSX-V : $0.79)
* M0 _1 r! ~- g% JDietary supplement business facing headwinds
+ F9 _6 q' } K5 v9 @Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00
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0 o Z; q& K+ U8 \Open Range Energy (ONR : TSX : $1.18)
* A, ^- S. ~0 j: J- O+ vProvided operational update and F09 guidance
! v# M: Y, b3 v( E( s( J2 cHaywood Securities continues "sector outperform", 12-month target price is $3.25
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Osisko Mining (OSK : TSX : $3.13)
$ b9 \) }5 Z! @; iSouth Barnat resource around the corner
- S/ z4 S8 S! t! ~- ]! ], I7 TParadigm Capital continues "speculative buy", 12-month target price is $4.75
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, O6 }' W, o9 mPan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)
. l( e. z. e9 Q6 n' a; KProvided operational update1 Z& Y/ [% C/ z1 [2 I8 f- W$ J
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.00( `3 K w* t( `- ]* B) y: U# c
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50, |+ g3 }$ f: x6 a6 V2 `
( u1 R/ @. z* g: M. o! A4 mParamount Resources (POU : TSX : $7.85)6 D! m1 C7 r. @. w* y
Provided operational update: Grande Prairie emerging as the key focus for F097 ^2 ?$ L5 T# x) S6 t, @- L
GMP Securities maintains "buy", 12-month target price is $12.00; r$ p: L/ K% A$ O: P% l% i; I
) x( T+ N+ q D/ W+ qRockwell Diamonds (RDI : TSX : $0.07)) W$ Q, k# @( z, J* c, ^
Operations starting to turn the corner( v) F, j4 P2 n$ Z* D9 `$ N
RBC Capital Markets maintains "outperform", no target price reported) y" a; Y. W9 B- X
$ W Q- ]1 ?, ] V* x; ?" d" E) DShaw Communications (SJR.B : TSX : $20.13)
" f3 x x T# T* } v6 BReleased Q1/09 results: in line, subscribers ahead
+ y) }+ E% B5 q: R) SCredit Suisse maintains "neutral", 12-month target price is $25.50) D0 `/ V% o1 ], n0 h
GMP Securities continues "buy", 12-month target price is $26.500 T/ t& o4 d+ c8 l
2 ~1 |" @9 _/ X4 x: pSun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)9 z/ r6 c$ s+ n/ Z4 t5 h4 v. R6 ?
Held a sell-side lunch showcasing new U.S. team
; ^- t: }' _" e+ l, I. pScotia Capital Markets maintains "sector perform", 12-month target price is $33.002 d! V: @: C% x, }& f! t% {
+ u8 w) x% F) @2 @& W# Q0 F+ M+ T4 PTrican Well Service (TCW : TSX : $6.93)
& N' |( p% Y1 \. d6 EAwarded Russian contracts
3 ?0 e6 U5 X3 a& {9 ^- gBlackmont Capital maintains "hold", 12-month target price is reduced to $8.758 M3 B; n3 A7 E
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.00
/ @8 t* Z( U: a: v" K/ yRBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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8 j1 l1 W1 F6 J: TSino-Forest Corp. (TRE : TSX : $8.93). u: G1 k3 E$ V3 I- D6 S* l
Chinese furniture exports rose in November# m) ]% w3 c: C% S+ Y5 r
Dundee Capital Markets maintains "buy", 12-month target price is $23.50% I% J$ N* Y+ @
: C( W+ D- {0 E5 X, g+ \6 W+ Y; {UEX Corp. (UEX : TSX : $0.88)# ^7 b+ {& U5 {& O% O7 u, k
Shea Creek's two largest deposits have become one
% }6 c# v% s! o$ r9 S7 sDundee Capital Markets maintains "buy", 12-month target price is $2.759 B4 E4 |7 _8 T3 A& Q
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Vero Energy (VRO : TSX : $4.72)3 L! H% c8 L/ I/ l3 z. B) o
Released Q4/08 results: horizontal focus to continue in F09) ]% K8 l0 i ?5 ?' Y( B
Dundee Capital Markets continues "buy", 12-month target price is $8.00
: s& i! S4 c- o aGMP Securities continues "buy", 12-month target price is $7.50' ^8 C1 c7 E" B1 [
Paradigm Capital continues "buy", 12-month target price is $12.00
+ ^1 G; v* O" L/ Q* d; C @RBC Capital Markets maintains "outperform", 12-month target price is $8.50
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; {! i7 F, P/ ]# }Wi-Lan Inc (WIN : TSX : $1.75)" x- \* i- U, Y! y2 Z( g- y
Hit homerun with Samsung
% Q& K2 X; u- F1 G& CParadigm Capital continues "buy", 12-month target price is $3.50 |
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