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Ear on the Street --- Jan. 16 2009, D+ A: \8 ~9 E& P9 a: E1 S
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Absolute Software (ABT : TSX : $3.36)
' u7 A ~/ ?0 `: }, h% b" G4 ~Bracing for a tough few quarters; X/ h" ~9 j; x! o, B% Z3 n
Canaccord Capital maintains "hold", 12-month target price is $4.50: d5 o% f$ F: {. c6 ~* p
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Barrick Gold Corp. (ABX : TSX : $39.73 | NYSE : US$31.45)( T* Q3 R0 r y5 x$ B+ k) D
Growth outlook, challenging pipeline and high cost structure make future unclear4 }- D+ O. Z8 D$ `. k
Blackmont Capital continues "hold", 12-month target price is lowered to $48.00# x! @4 F$ f. O
TD Newcrest downgrades to "hold", 12-month target price is raised to US$37.008 ^) z5 v4 g6 k1 x, V
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Astral Media (ACM.A : TSX : $22.98)
: [( @9 c- s5 y: W* lReleased Q1/09 results: strong, in light of challenging operating environment3 D. J; P# x2 z& v
BMO Capital Markets maintains "market perform", 12-month target price is reduced to $26.00
q( U$ C* W1 e1 K( jDesjardins Securities maintains "buy", 12-month target price is slashed to $28.00* F! B/ v& n" e( I& n% F+ ?* `
GMP Securities maintains "buy", 12-month target price is reduced to $30.00
7 }1 U% i1 n2 ?" ZRBC Capital Markets continues "outperform", 12-month target price is raised to $31.00' ~3 }2 j6 x# T, z1 ]/ v, [
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)( A# q' W) Y& K/ T
Well positioned with gold production forecast to double this year and next8 @: t1 b' c: _! l9 A
Blackmont Capital continues "buy", 12-month target price is lowered to $83.00
& |9 K, i3 T1 d3 A1 [3 H1 P2 ETD 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 : $17.15) W( `: h$ Q# u- p( M
Reduced distributions by 20%; capex also cut
9 i: U* L0 V9 \, w. fRBC Capital Markets continues "outperform", 12-month target price is $19.00. i) m6 B3 y5 K! ~
7 k- {6 z' J# _2 `0 O" S- t* sAndean Resources (AND : TSX : $0.75)
2 g4 R! b2 D$ ^& {# OAnnounced F09 outlook
$ l6 g$ o4 R9 _% H9 M: D" O* sParadigm Capital continues "speculative buy", 12-month target price is $2.25* [- n: h e6 V1 m) B% b
TD Newcrest downgrades to "hold", 12-month target price is cut to $1.003 \" ?9 `& j" i" D/ n1 Y' k
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Bombardier Inc. (BBD.B : TSX : $4.65)
c* }, R) u# s6 i7 z) b2 O/ PRising challenges in Aerospace
0 O( `9 @9 {7 A9 q4 v. Q+ TGMP Securities continues "buy", 12-month target price is $8.00
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Bank of Montreal (BMO : TSX : $31.84)
- ~2 N, t1 Q* ^" Y! C- A% n/ x! EAcquiring AIG's Canadian life insurance business& I( K/ q5 y b5 H X) I$ }9 x
TD Newcrest continues "hold", 12-month target price is $37.000 H D! M2 ?2 a$ ]
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Cogeco Cable (CCA : TSX : $33.37)
+ y& B1 b' D; \5 yQ1 review: Canada results encouraging, but Portugal remains a drag h/ {% ?& z: b5 L% F! g
BMO Capital Markets maintains "outperform", 12-month target price is $46.00
6 r+ j" W; S i; L6 w& vDesjardins Securities continues "top pick", 12-month target price is $40.008 @/ N n: Q; L8 g
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $43.00$ q' L! d: k5 m6 Y
Scotia Capital Markets continues "sector outperform", 12-month target price is $55.00
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6 u X6 C3 z h7 E3 L) MCorridor Resources (CDH : TSX : $2.45)8 o: F' n1 |) R
Capital budget set to expected cash flow; production guidance lowered+ n% }; U9 E3 H9 O% O- R8 D
RBC Capital Markets maintains "outperform", 12-month target price is $4.25. d& f( X& h( m/ v
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COGECO Inc. (CGO : TSX : $25.14)
! }" z- t+ g- n, Z0 m- [Strong radio and cable drives 39% EPS growth
2 U. d+ [9 l. V0 `- @) T/ \: B( w6 BScotia Capital Markets continues "sector perform", 12-month target price is $45.00
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5 a* u+ W0 l* G8 s6 v6 K. S f4 kCanWest Global Communications (CGS : TSX : $0.51)
" x4 x) B5 G! H; VTaking action to address tough operating environment' A9 V+ J' T" c2 P
BMO Capital Markets maintains "underperform", no target price reported( O& Q% Q+ X& ?7 N9 v, `3 g) C
Credit Suisse maintains "neutral", 12-month target price is $1.007 w2 ^0 Y/ k3 R* b
GMP Securities continues "reduce", 12-month target price is $0.50
7 I! N) C) C' mRBC Capital Markets continues "underperform", 12-month target price is $0.75
3 X- C1 l3 f1 X- g8 c! HScotia Capital Markets continues "sector underperform", 12-month target price is $0.50
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2 w. o$ _+ G4 {# |& n% ?4 vCorus Entertainment (CJR.B : TSX : $12.47)
& S! F, I7 j: ^# S# yQ1 revenues in line, EPS beat
( L* k- o& t, X5 S- oBMO Capital Markets continues "market perform", 12-month target price is cut to $15.00! o; E" X% Y- t. ?
Credit Suisse continues "outperform", 12-month target price is $20.00& V7 ^8 H3 ]7 E/ h1 b( ~. s
Desjardins Securities maintains "buy", 12-month target price is lowered to $15.00
# L$ \+ |$ c: W$ K, l1 z4 B- {GMP Securities maintains "buy", 12-month target price is reduced to $17.00# E4 `1 [: l+ a2 B
RBC Capital Markets maintains "outperform", 12-month target price is raised to $18.50& u9 W0 ^9 g O2 g/ ^- o/ x
Scotia Capital Markets continues "sector outperform", 12-month target price is $18.00) u [0 J) l: z, x
$ e' u. m% m) r1 Z5 Z0 }( tCalloway REIT (CWT.UN : TSX : $11.84)
6 L- Y1 ~% f' d, bHeld investor day9 \) ^" u3 ^/ [3 N" H& w- D
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.00
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/ @: N2 u1 H; \7 |) e- V& YDaylight Resources Trust (DAY.UN : TSX : $7.77)) u# g. ~+ b5 D i
Reduced distributions by 38%; guided for lower capex! q' k9 M7 c/ D% G
BMO Capital Markets maintains "market perform", 12-month target price is lowered to $9.002 v) t+ [' S5 D
Dundee Capital Markets continues "buy", 12-month target price is $12.00
2 @1 K( a6 N, WTD Newcrest continues "hold", 12-month target price is $7.50
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* z2 Y3 b: X, F/ t8 ZEXFO Electro-Optical Engin. (EXF : TSX : $3.65 | EXFO : NASDAQ : US$2.90)
8 C5 T* X7 c# \Steady market and currency tailwind0 _2 M) D! I! m$ `7 Z
TD Newcrest maintains "buy", 12-month target price is US$5.00" E! `0 _, {, W* F* D& z
. l; G) ^& b( _+ `) G! @Goldcorp Inc. (G : TSX : $29.74)
1 S7 {% Z) |* y6 b/ I1 V% ERevised commodity forecasts
6 _( p! D8 x ?; O# J. |Blackmont Capital maintains "buy", 12-month target price is reduced to $49.008 c9 b: a5 [4 }$ J1 ]6 `5 K( w+ ^; c
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Heritage Oil (HOC : TSX : $3.77)4 X% r3 ]" }5 M9 b! j9 ^" f+ D
Announced Ugandan commerciality on exploration success( s+ B$ D! u" I4 ?1 | T' c2 w
TD Newcrest maintains "speculative buy", 12-month target price is raised to $5.50
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$ D1 m' Y0 V0 w2 {Harry Winston Diamond (HW : TSX : $4.98)
" x# H1 Z& f% s# y& bRetail division suffers
9 ]9 M% ]. c7 F/ I- V( U; CDesjardins Securities maintains "buy", 12-month target price is $12.60, Q+ v7 v, s$ e( B
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Laramide Resources (LAM : TSX : $1.84)
" P6 A& U6 h- A/ MWestmoreland provided more high grade at Redtree's Jack Lens
- W; \8 s9 g& [/ cDundee Capital Markets continues "buy", 12-month target price is $2.30" N' `% |) \6 v: J9 b8 N
4 Z1 e, t3 m( T8 xLockerbie & Hole (LH : TSX : $6.00)
( h/ v b& {; u2 OReleased Q3/09 results: very strong, focus should be on active backlog8 ^0 Y6 m, P! K- X- e/ ?
GMP Securities continues "buy", 12-month target price is $9.00+ W1 a/ i t3 \* X
Raymond James maintains "market perform", 6-12 month target price is $8.25% V* c& j1 u1 p8 S& N# p
5 p7 r6 ^5 o! i: `2 |$ n7 tLivingston Intl Income Fund (LIV.UN : TSX : $6.00)
; V( A ^) \+ B8 d IReduced distributions by 70%
6 p9 n5 b3 @; u( q6 MRBC Capital Markets maintains "outperform", no target price reported: J& w4 E# v1 A( A
Scotia Capital Markets continues "sector underperform", 12-month target price is $6.50" O: ~+ G0 h) { U& Y
; m& W4 p _8 e$ X1 q0 BMatrikon Inc. (MTK : TSX : $2.04)7 e5 C. I; D% d
Released Q1/09 results: a little light, but still respectable
2 c" Z, p6 D# Q3 d* k# NBMO Capital Markets continues "outperform", 12-month target price is lowered to $2.501 l; e- B4 ^; t5 D% K2 K$ s2 N
Paradigm Capital maintains "buy", 12-month target price is $4.00
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Mullen Group Income Fund (MTL.UN : TSX : $10.97)
) z6 V9 Z# k8 G8 g1 Q' rExpecting lower CFPU on higher taxes$ M% l7 B( t) n# h2 u: M
BMO Capital Markets continues "outperform", 12-month target price is $18.00$ R- y J0 i3 U
RBC Capital Markets continues "sector perform", 12-month target price is $12.006 \2 `8 M6 ^( \* \5 s
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)
+ s+ H8 U. C" @0 B% F( QReleased Q4/08 results: Kemess winding down, Aussie ops improving, growth remains uncertain
) a% ], [. ], x& K8 dBlackmont Capital continues "hold", 12-month target price is reduced to $1.25& [4 m( E5 G. w9 {: v
Credit Suisse maintains "neutral", 12-month target price is US$1.00
3 }3 r+ `/ D9 l8 S+ HScotia Capital Markets continues "sector underperform", 12-month target price is US$0.808 Y' H% ?4 m" _' O+ N' f
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Neptune Tech & Bioresources (NTB : TSX-V : $0.79)
/ U% a5 j& v( a$ ^% d% [7 @Dietary supplement business facing headwinds6 b7 j& ^7 `$ a+ S! Z3 Q
Paradigm Capital maintains "buy", 12-month target price is reduced to $4.00
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& Y) ~0 D+ l; W! d1 c' }& m8 AOpen Range Energy (ONR : TSX : $1.18)
" [# v7 \) k9 c: XProvided operational update and F09 guidance
* [$ Z- ]2 v+ @3 d/ }( C7 @, F mHaywood Securities continues "sector outperform", 12-month target price is $3.25# S7 m! C" e7 t' K( c
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Osisko Mining (OSK : TSX : $3.13)
8 q0 T, q" ]3 J5 V) k* ^+ dSouth Barnat resource around the corner
/ Z8 M# Z- r$ T4 K# M# oParadigm Capital continues "speculative buy", 12-month target price is $4.75
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Pan American Silver (PAA : TSX : $17.39 | PAAS : NASDAQ : US$13.75) q% A6 Z$ R% u3 e% T) k
Provided operational update
' p. S7 V8 w! v7 \2 ?: s- XBlackmont Capital maintains "hold", 12-month target price is lowered to $19.00: G/ s7 g6 i, x- q, T
TD Newcrest downgrades to "hold", 12-month target price is raised to US$17.50( s8 Q' V1 L8 @2 S% T0 [! K) Z* u# E
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Paramount Resources (POU : TSX : $7.85)
`4 d) l) K& HProvided operational update: Grande Prairie emerging as the key focus for F09* b+ q: |8 H k6 u2 |
GMP Securities maintains "buy", 12-month target price is $12.00
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; J- e0 B3 j, ?$ U- J& G) Z; T# YRockwell Diamonds (RDI : TSX : $0.07)0 Q& T1 S1 r, w% h
Operations starting to turn the corner( ^$ D0 @& Z& g* p- x2 U' T
RBC Capital Markets maintains "outperform", no target price reported
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Shaw Communications (SJR.B : TSX : $20.13)
* S$ P h5 p$ d2 |7 G! j% ?5 i; {Released Q1/09 results: in line, subscribers ahead
; U- t' A5 E7 K# F; W( P( k2 pCredit Suisse maintains "neutral", 12-month target price is $25.50
7 G* S$ B( B' kGMP Securities continues "buy", 12-month target price is $26.50$ ]$ j7 \- y: x# G* e" m
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Sun Life Financial Inc. (SLF : TSX : $25.95 | NYSE : US$20.48)
% \. `! K: E( P6 n) a$ }Held a sell-side lunch showcasing new U.S. team% I, E# F- b* r
Scotia Capital Markets maintains "sector perform", 12-month target price is $33.00
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Trican Well Service (TCW : TSX : $6.93)
- }5 u1 w! G, U( t3 k- tAwarded Russian contracts- W8 A" O4 G7 V# g) S
Blackmont Capital maintains "hold", 12-month target price is reduced to $8.75* _4 G* F' c; G4 x
Raymond James maintains "market perform", 6-12 month target price is lowered to $9.002 l8 l" K. r" M7 r
RBC Capital Markets maintains "sector perform", 12-month target price is $10.00
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* A3 Z) x2 Q2 F8 l( l3 ESino-Forest Corp. (TRE : TSX : $8.93)/ Q/ X) N" P: `
Chinese furniture exports rose in November
( }$ I7 O% X) CDundee Capital Markets maintains "buy", 12-month target price is $23.50. Y8 h! i+ ~( ~' y! A$ o
* }0 @! ? R3 I0 lUEX Corp. (UEX : TSX : $0.88)
; i7 Y2 y- m' c k& L# x. n# H; OShea Creek's two largest deposits have become one5 R+ ]+ C1 f2 ^: h' s! V
Dundee Capital Markets maintains "buy", 12-month target price is $2.75/ J& P' Y9 p3 v+ p! E- z- |
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Vero Energy (VRO : TSX : $4.72): W- w; H$ g4 }6 f: C0 J( u
Released Q4/08 results: horizontal focus to continue in F09( f2 }) j. j. F, {% n/ d
Dundee Capital Markets continues "buy", 12-month target price is $8.00$ k2 J$ W1 [& ?: `1 a3 j
GMP Securities continues "buy", 12-month target price is $7.501 q6 Z, U( ?7 A1 @* o/ G4 ?
Paradigm Capital continues "buy", 12-month target price is $12.00
0 _3 n5 i. U) d4 w I% K+ `RBC Capital Markets maintains "outperform", 12-month target price is $8.50$ \( z3 o1 I6 V# f: a& z
( H; }3 G6 X# L9 R. h9 ^8 b4 FWi-Lan Inc (WIN : TSX : $1.75)) I" V! ~9 h, a
Hit homerun with Samsung
( c$ y5 o6 U+ U' I2 pParadigm Capital continues "buy", 12-month target price is $3.50 |
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