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Ear on the Street --- Jan. 16 20093 D; P+ }* u3 ]6 P% v3 f. c# N
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Absolute Software (ABT : TSX : $3.36)
9 e4 H- u9 }; f- `1 G4 k: B7 wBracing for a tough few quarters# F7 M# i$ Z% @& p5 G+ {# M$ S
Canaccord Capital maintains "hold", 12-month target price is $4.50# l+ N. L( `; \7 R4 Y
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Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)
& j- r k3 m3 z/ ^ _' bGrowth outlook, challenging pipeline and high cost structure make future unclear9 ]) c- P* f+ I" Y/ V: J
Blackmont Capital continues "hold", 12-month target price is lowered to $48.00
# W7 j: G3 U# Y$ m6 oTD 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)
6 K" W n [2 V: pReleased Q1/09 results: strong, in light of challenging operating environment
% z- r1 V8 _ ?' S' |2 l xBMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00
6 r) \$ R& x- M/ VDesjardins Securities maintains "buy", 12-month target price is slashed to $28.00
1 h; n7 P! N; K V" d" @GMP Securities maintains "buy", 12-month target price is reduced to $30.009 n& F4 ~. N' |( d! ^
RBC Capital Markets continues "outperform", 12-month target price is raised to $31.00' `, |! W W2 P, J4 F) F
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) u( S% [1 I R' o3 R" @# u
Well positioned with gold production forecast to double this year and next
) i4 b& h+ ^. N, u, CBlackmont Capital continues "buy", 12-month target price is lowered to $83.00
, v, K. x; G- e* f6 I: ^TD Newcrest upgrades to "action list buy", 12-month target price is raised to US$62.00" }1 |5 h9 a/ }' |) e% }
, V H& X! A B6 {% l- eARC Energy Trust (AET.UN : TSX : $17.15)/ e2 y2 Q+ U% X s% A0 E0 A
Reduced distributions by 20%; capex also cut
' } Y% C. z) b6 o' d! P" Q& B/ F9 JRBC Capital Markets continues "outperform", 12-month target price is $19.00
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Andean Resources (AND : TSX : $0.75)
& L: N% u7 h% AAnnounced F09 outlook( l2 P2 R; }8 g0 j
Paradigm Capital continues "speculative buy", 12-month target price is $2.25
3 G! |% |3 g: S# rTD Newcrest downgrades to "hold", 12-month target price is cut to $1.00) ?4 c6 _3 C" L2 Q+ C/ u
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Bombardier Inc. (BBD.B : TSX : $4.65); [6 G9 M% p: k' b, r& \
Rising challenges in Aerospace8 E) D$ a$ f% t
GMP Securities continues "buy", 12-month target price is $8.00; U' d. B/ Z% c$ k' ?# p+ S" |
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Bank of Montreal (BMO : TSX : $31.84)
0 b+ y( O$ |6 n% u, x7 e, P# E. KAcquiring AIG's Canadian life insurance business. P2 X7 C& D8 m
TD Newcrest continues "hold", 12-month target price is $37.00
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; p' V! X" O9 jCogeco Cable (CCA : TSX : $33.37)3 T; [! ^, c4 J0 q2 A( n2 J6 ~4 j/ T
Q1 review: Canada results encouraging, but Portugal remains a drag t% T( K: C7 y( v
BMO Capital Markets maintains "outperform", 12-month target price is $46.00
" Z7 U) U$ ^$ Z g0 zDesjardins Securities continues "top pick", 12-month target price is $40.00
! D- ]. P0 v. V+ `RBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00* W+ z% }: J" t6 I! u4 n: A! F7 _
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00# w+ D) \# J2 c4 g* E0 f M) D
( Q. C& w* k2 t/ y: R* d6 ACorridor Resources (CDH : TSX : $2.45). w! H* F) w9 Y% f: I( W" t
Capital budget set to expected cash flow; production guidance lowered! U: E) U5 Y' J, z) }, O( \$ h
RBC Capital Markets maintains "outperform", 12-month target price is $4.25
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: V+ l- f/ S- o, jCOGECO Inc. (CGO : TSX : $25.14)/ i" M: F% e; h; b5 S% M9 l
Strong radio and cable drives 39% EPS growth- ^5 c9 @' g* \3 _
Scotia Capital Markets continues "sector perform", 12-month target price is $45.000 I& K- [" k J/ m q! B$ J9 ?
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CanWest Global Communications (CGS : TSX : $0.51)
! P( l' U. v- u) K4 b- rTaking action to address tough operating environment
# n1 q' m4 I" [& z; A) u7 wBMO Capital Markets maintains "underperform", no target price reported
3 g& i9 f- ] I5 G! y, FCredit Suisse maintains "neutral", 12-month target price is $1.00% A- |+ ~4 o) e; I8 r2 l$ f
GMP Securities continues "reduce", 12-month target price is $0.50" R: k2 a* B9 I# H B" P
RBC Capital Markets continues "underperform", 12-month target price is $0.755 a9 l) L4 {$ d/ F% X* t8 [7 {9 Y
Scotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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Corus Entertainment (CJR.B : TSX : $12.47)6 E1 Y# }% J0 N* ~: f! ~
Q1 revenues in line, EPS beat
- @ `+ l% h' Y5 D- r8 n. m; ]BMO Capital Markets continues "market perform", 12-month target price is cut to $15.00
, `& x2 T7 ~" [# s, z- U3 HCredit Suisse continues "outperform", 12-month target price is $20.00) u. h! q, m/ p9 R/ C# Z: Z
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00
2 f" U+ E. b4 w [# ]2 i, V$ b, sGMP Securities maintains "buy", 12-month target price is reduced to $17.00
1 d2 B$ q, o J1 aRBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50+ j: a8 ~: m" M/ J/ a% u
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00
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; @& ?% S( W, c5 `4 WCalloway REIT (CWT.UN : TSX : $11.84)4 v8 Q" X! r* l; v2 f
Held investor day3 u; M, f+ o3 h& O# P
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00( ]$ |" `4 V+ E; x, o( t0 y' W" O6 `
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Daylight Resources Trust (DAY.UN : TSX : $7.77)/ Z+ U; }9 {' ~' O( y8 M7 \
Reduced distributions by 38%; guided for lower capex
% I. ^7 P1 N/ ZBMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.00+ P+ ?: A3 m( t6 T, p
Dundee Capital Markets continues "buy", 12-month target price is $12.00 B0 S9 C" ?( q( p
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)0 m' {# I+ }. S) W o6 q
Steady market and currency tailwind+ `1 K3 p# V9 ^# V. B x1 r( k
TD Newcrest maintains "buy", 12-month target price is US$5.00
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! K0 B, ]) y8 u9 k+ B5 XGoldcorp Inc. (G : TSX : $29.74)3 j% X& @6 a5 t1 Q0 h
Revised commodity forecasts0 D: a% r, |! w% w5 c& ^# r
Blackmont Capital maintains "buy", 12-month target price is reduced to $49.00
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, |2 ?1 O4 \: i1 d! T( U( q* H& KHeritage Oil (HOC : TSX : $3.77): m7 y$ a: c0 o* V$ Z! M5 T# S
Announced Ugandan commerciality on exploration success( x" p7 [$ ]# o4 Z- R* C' S
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.500 G8 w' U( p9 E
7 n. U: H# X- I6 Y; uHarry Winston Diamond (HW : TSX : $4.98)
( ~' n" M1 m) ~9 g$ S. L0 DRetail division suffers
5 P. H7 k( r5 O! r- D; eDesjardins Securities maintains "buy", 12-month target price is $12.600 S! A/ U# x4 U
8 V9 g* x/ e4 ^9 iLaramide Resources (LAM : TSX : $1.84)4 @# W. K. X! N4 v, T2 N7 [
Westmoreland provided more high grade at Redtree's Jack Lens+ @' V( ^* O2 v$ g2 o0 p! k' {
Dundee Capital Markets continues "buy", 12-month target price is $2.30. ?& o9 V: k9 O& z. U" T
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Lockerbie & Hole (LH : TSX : $6.00)
/ w% { j/ { \+ _Released Q3/09 results: very strong, focus should be on active backlog
2 G+ f2 _5 W( Z& p# hGMP Securities continues "buy", 12-month target price is $9.00
* s& N9 Y: `' x# r3 F g; m% kRaymond James maintains "market perform", 6-12 month target price is $8.252 T' [/ E' R' C
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Livingston Intl Income Fund (LIV.UN : TSX : $6.00)
1 B8 Z0 r3 e$ q' yReduced distributions by 70%& V2 g. r. q* S \/ v7 u8 w) Z
RBC Capital Markets maintains "outperform", no target price reported
' F# s: k! R# b6 q- KScotia Capital Markets continues "sector underperform", 12-month target price is $6.503 B% `! t, h6 S$ q/ D
- n( p9 Q4 {9 Y/ _3 SMatrikon Inc. (MTK : TSX : $2.04)
4 A& ~4 V+ _2 {5 U6 x v6 n; ]Released Q1/09 results: a little light, but still respectable' O8 h- G" P1 d
BMO Capital Markets continues "outperform", 12-month target price is lowered to $2.503 B% m" T& Z; \6 t+ E
Paradigm Capital maintains "buy", 12-month target price is $4.00
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)
9 m1 M( x1 i( \9 r! _9 M4 fExpecting lower CFPU on higher taxes
0 s" C) f) k0 rBMO Capital Markets continues "outperform", 12-month target price is $18.00) F9 O _& i' p; Y6 H4 L- p0 \
RBC Capital Markets continues "sector perform", 12-month target price is $12.00
* ?8 u& u5 l) JTD Newcrest continues "buy", 12-month target price is $17.00: |$ q' O9 U* \. G" V* E2 e
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Northgate Minerals Corp. (NGX : TSX : $1.08 | NXG : AMEX : US$0.86)- H5 @& J" g/ n; [4 W4 K
Released Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain
( X k t6 g* U, C" x" n' u' N6 `Blackmont Capital continues "hold", 12-month target price is reduced to $1.25
: i1 |/ `7 i( @1 T5 o7 T w0 ICredit Suisse maintains "neutral", 12-month target price is US$1.00/ p0 x% ^' u! v* o, _6 r
Scotia 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)
. ?# h3 [7 G, Z4 BDietary supplement business facing headwinds
- r# D' B- e6 ]% XParadigm Capital maintains "buy", 12-month target price is reduced to $4.000 M6 N, }6 t4 l/ v! h3 e9 @6 M/ L
0 ]) a# C% q+ d: `Open Range Energy (ONR : TSX : $1.18)2 k9 N: U/ C8 g; m# ^. X' `
Provided operational update and F09 guidance7 t( H6 E. F( u7 D
Haywood Securities continues "sector outperform", 12-month target price is $3.250 W6 [; h+ k/ ~- }9 a% K. E; q" H4 X
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Osisko Mining (OSK : TSX : $3.13)
, B' B0 g+ Y# c2 sSouth Barnat resource around the corner) @# |, E& @6 L: `( b; X+ `
Paradigm Capital continues "speculative buy", 12-month target price is $4.750 M @9 t- [, F/ a l5 X6 ^
6 i6 [/ ~5 q _3 m- z' YPan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75)( O* ?7 b1 ^8 n0 ?; D# J
Provided operational update0 m2 N1 K$ R. u* x" m' L, a
Blackmont Capital maintains "hold", 12-month target price is lowered to $19.002 E1 D/ C7 P5 \% \2 M8 V0 S Q
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50
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Paramount Resources (POU : TSX : $7.85)- o1 C% E+ a$ j$ a
Provided operational update: Grande Prairie emerging as the key focus for F09
. Z# S, B7 R3 J: e2 h" K% |8 rGMP Securities maintains "buy", 12-month target price is $12.00
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+ }5 s/ X$ h! N0 o$ \7 _Rockwell Diamonds (RDI : TSX : $0.07)7 I6 B$ F2 n% [/ z* ^ Q
Operations starting to turn the corner
" O9 x& H& I& }# E* E- nRBC Capital Markets maintains "outperform", no target price reported4 u9 Z4 [9 o4 _+ ^& `; u( e
. d0 d8 H3 x- c; i: lShaw Communications (SJR.B : TSX : $20.13)1 |! x- d4 p! ^2 m4 z
Released Q1/09 results: in line, subscribers ahead) F/ F- p9 o; m9 Q) _% ~; k8 Q K
Credit Suisse maintains "neutral", 12-month target price is $25.50! M! X- h- R$ I* ?! E; \- q. l
GMP Securities continues "buy", 12-month target price is $26.50* b& F i u9 ?+ @4 H# l* B8 T4 e
+ C) s2 X8 \" T# ?! ]Sun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)8 G A9 ]. L, B- g# ` U" W
Held a sell-side lunch showcasing new U.S. team
' i4 V% M( a& RScotia Capital Markets maintains "sector perform", 12-month target price is $33.00, k6 ?+ `5 E5 V- j! s
3 t7 e5 ^1 G' j7 v$ {/ ~3 C% ?Trican Well Service (TCW : TSX : $6.93)
5 _' V3 ~( O) \$ r( s$ G1 TAwarded Russian contracts# t4 m% ?% l; e8 F9 \5 f
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.754 S0 a; Z- G) d# u; s
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.005 T. \: U& \- h; } \+ i
RBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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! r! C' T R$ }! U9 VSino-Forest Corp. (TRE : TSX : $8.93)& z1 {6 R" D3 r7 d$ F
Chinese furniture exports rose in November
& ]2 h/ L" F- X. q3 r! yDundee Capital Markets maintains "buy", 12-month target price is $23.50
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- I t" m+ d2 ]6 ^: p& \5 OUEX Corp. (UEX : TSX : $0.88): S+ l+ }4 ~2 j0 ?4 N
Shea Creek's two largest deposits have become one
8 h8 C! K) h+ i# ^& ^Dundee Capital Markets maintains "buy", 12-month target price is $2.75
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Vero Energy (VRO : TSX : $4.72)
0 G) T: l {& H' _4 X) ^8 ^& Z0 ^Released Q4/08 results: horizontal focus to continue in F09
' D+ H) E+ [% a' k$ _Dundee Capital Markets continues "buy", 12-month target price is $8.00* u) R* s3 n- s+ l: N
GMP Securities continues "buy", 12-month target price is $7.50: j. L3 C7 Z$ n( K( S
Paradigm Capital continues "buy", 12-month target price is $12.00
: ~, `: \4 R; t3 ?- x* q" jRBC Capital Markets maintains "outperform", 12-month target price is $8.50% n; l2 j+ g' {* v! x2 O
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Wi-Lan Inc (WIN : TSX : $1.75)
+ ^1 ]& A) @2 r% ? x* l( H0 Z2 EHit homerun with Samsung
1 ?2 G! P" \0 Z$ J* u- N. oParadigm Capital continues "buy", 12-month target price is $3.50 |
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