Ear on the Street
Angiotech Pharmaceuticals (ANP : TSX : $9.67 | ANPI : NASDAQ : US$8.44)
$325 million dollar debt deal
Blackmont Capital maintains "buy", 12-month target price is cut to US$14.00
RBC Capital Markets maintains "outperform", 12-month target price is US$14.00
Axcan Pharma (AXP : TSX : $16.73 | AXCA : NASDAQ : US$14.62)
In-line Q4
Blackmont Capital downgrades to "hold", 12-month target price is US$15.50
BMO Capital Markets maintains "market perform", 12-month target price is US$15.00
TD Newcrest maintains "hold", 12-month target price is US$14.00
BCE Inc. (BCE : TSX : $28.09)
To provide 2007 guidance on December 12
Desjardins Securities maintains "buy", 12-month target price is $32.50
Bonavista Energy Trust (BNP.UN : TSX : $28.19)
Analyst changes valuation model
TD Newcrest downgrades to "hold", 12-month target price is $29.00
Baytex Energy Trust (BTE.UN : TSX : $22.42)
Downgrade on stock price rise
CIBC World Markets downgrades to "sector perform", 12-month target price is $23.75
TD Newcrest downgrades to "hold", 12-month target price is raised to $23.00
Certicom Corp. (CIC : TSX : $5.33)
To report Q2 tomorrow
Canaccord Adams maintains "buy", 12-month target price is $10.00
Canadian Natural Resources (CNQ : TSX : $62.51)
Downgrade on stock price rise
Blackmont Capital downgrades to "hold", 12-month target price is $62.00
Canadian National Railway (CNR : TSX : $53.97 | CNI : NYSE : US$47.18)
Improving industry profitability is here to stay
BMO Capital Markets maintains "outperform", 12-month target price is $60.00
Countryside Power Income Fund (COU.UN : TSX : $6.48)
Possible distribution cut due to cross-default
RBC Capital Markets maintains "underperform", 12-month target price is $7.00
Canadian Pacific Railway (CP : TSX : $63.40 | NYSE : US$55.34)
Improving industry profitability is here to stay
BMO Capital Markets maintains "outperform", 12-month target price is raised to $69.00
Cognos Inc. (CSN : TSX : $48.94 | COGN : NASDAQ : US$42.77)
To report Q3 on December 20
TD Newcrest maintains "buy", 12-month target price is raised to US$49.00
Catalyst Paper (CTL : TSX : $3.08)
New board appointments
RBC Capital Markets maintains "sector perform", 12-month target price is $3.25
Equinox Minerals Limited (EQN : TSX : $2.05)
Formally signed debt financing package for Lumwana copper project
CIBC World Markets maintains "sector underperform", target price is $1.75
Enerplus Resources Fund (ERF.UN : TSX : $52.25)
Change to price target methodology
TD Newcrest downgrades to "hold", 12-month target price raised to $56.00
Ensign Energy Services (ESI : TSX : $19.05)
Forecasted slowdown in activity for Western Canada for 2007 over 2006
TD Newcrest downgrades to "hold", 12-month target price is $23.00
FNX Mining Company (FNX : TSX : $17.53)
Shares trading at a high for the year
BMO Nesbitt Burns maintains "market perform", target price raised to $17.65
Freehold Royalty Trust (FRU.UN : TSX : $13.90)
Change to price target methodology
TD Newcrest downgrades to "hold", 12-month target price is $15.50
Groupe Laperriere & Verreault (GLV.A : TSX : $30.62)
GLV emphasizes sustained profitable growth of 10%+ per year
Blackmont Capital maintains "buy", target price is $35.00
Gerdau AmeriSteel (GNA : TSX : $11.55 | NYSE : US$10.08)
Demand easing as both the housing sector and domestic auto production turn down
BMO Nesbitt Burns maintains "market perform", target price is $14.00
Great-West Lifeco (GWO : TSX : $33.47)
Announced acquisition of US$9B in 401(k) assets
RBC Capital Markets maintains "sector perform", target price is $35.00
Industrial Alliance Ins & Fin (IAG : TSX : $36.47)
Shares up 28% over the last year, reflecting success of Clarington acquisition
BMO Nesbitt Burns downgrades to "market perform", target price raised to $40.00
IPSCO Inc. (IPS : TSX : $120.62 | NYSE : US$105.45)
speculation of a takeover following the Oregon steel announcement
BMO Nesbitt Burns maintains "market perform", target price is $123.00
E.D. Smith Income Fund (JAM.UN : TSX : $4.92)
Announced December 1 that it would not meet its stated payout goal of 95% for 2006
BMO Nesbitt Burns maintains "market perform", target price lowered to $6.00
Continental Minerals (KMK : TSX-V : $1.66)
Merger with Great China Mining to be completed by the year end
Blackmont Capital maintains "buy", 12-month target price is $8.50
MDS Inc. (MDS : TSX : $21.02 | MDZ : NYSE : US$18.36)
FQ4/06 results scheduled for release Thursday December, 14 2006
RBC Capital Markets maintains "sector perform", target price is $23.00
Magna International (MG.A : TSX : $91.10 | MGA : NYSE : US$79.60)
Leveraged buy-out?
TD Newcrest maintains "reduce", 12-month target price is US$67.00
Precision Drilling (PD.UN : TSX : $28.35)
Lower earnings expected but still good value
TD Newcrest upgrades to "buy", 12-month target price is $34.00
Peak Energy Services Trust (PES.UN : TSX : $5.42)
Poor forecasts for earnings and activities
TD Newcrest upgrades to "buy", 12-month target price is $7.50
Pembina Pipeline Income Fund (PIF.UN : TSX : $15.68)
Increased cash distribution
CIBC World Markets maintains "sector perform", 12-month target price is increased to $15.00
PrimeWest Energy Trust (PWI.UN : TSX : $24.31)
Expectations that government will follow through with tax to income trusts
TD Newcrest upgrades to "hold", 12-month target price is $24.00
Penn West Energy Trust (PWT.UN : TSX : $35.91)
New valuation methodology
TD Newcrest downgrades to "buy", 12-month target price is increased to $39.00
QLT Inc. (QLT : TSX : $10.18 | QLTI : NASDAQ : US$8.89)
Six-month German approval received for Eligard
Scotia Capital Markets maintains "sector underperform", 12-month target price is raised to $5.50
Research In Motion (RIM : TSX : $157.09 | RIMM : NASDAQ : US$137.32)
Positive feedback for Pearl
Scotia Capital Markets maintains "sector outperform", 12-month target price is $183.00
Rio Narcea Gold Mines (RNG : TSX : $3.12)
Metal price assumptions have increased
BMO Nesbitt Burns maintains "market perform", 12-month target price is increased to $3.70
Saputo Inc. (SAP : TSX : $38.01)
Whey prices push spreads lower
TD Newcrest maintains "buy", 12-month target price is $42.00
SFK Pulp Fund (SFK.UN : TSX : $4.21)
Resuming coverage after acquisition
BMO Nesbitt Burns maintains "market perform", 12-month target price is $4.50
Energy Savings Income Fund (SIF.UN : TSX : $12.22)
Management optimistic over future customer growth
RBC Capital Markets reiterates "top pick", target price is $15.00
Trican Well Service (TCW : TSX : $22.71)
Lower earnings expected
TD Newcrest downgrades to "hold", 12-month target price is $22.98
TELUS (T : TSX : $55.90)
Consolidated revenue growth expected
Desjardins Securities maintains "buy", 12-month target price is $63.00
Vermilion Energy Trust (VET.UN : TSX : $33.14)
Offshore prospects supporting momentum
CIBC World Markets maintains "sector outperform", 12-month target price is $40.00
TSX Group (X : TSX : $48.19)
Implication of Montreal Exchange going public
Scotia Capital Markets maintains "sector perform", 12-month target price is $55.00
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