The Trading Floor

[Arctec]

Ear on the Street

Aur Resources (AUR : TSX : $20.05)
Canaccord Adams lowering its copper price forecasts
Canaccord Adams maintains a "hold", lowers target to $25.00 from $26.50

Bombardier Inc. (BBD.B : TSX : $4.08)
Delta in talks to buy 60 76-seat CRJ900s
GMP Securities maintains a "reduce", target of $3.35

BCE Inc. (BCE : TSX : $30.72)
Channel checks indicate slower wireless sales during Holiday Season
RBC Capital Markets maintains a "sector perform", raises target to $33.00 from $32.00

CAE Inc. (CAE : TSX : $11.20)
Earnings performance, end markets and order book all reflect positive momentum
Raymond James upgrades to an "outperform" from "market perform", raises target to $12.40 from $10.75
TD Newcrest upgrades to a "buy" from "hold", raises target to $12.50 from $11.00

CAP REIT (CAR.UN : TSX : $18.62)
Valuation looks attractive for a large liquid REIT
Canaccord Adams upgrades to a "buy" from "hold", raises target to $20.25 from $19.50

Constellation Copper (CCU : TSX : $1.31)
December production 20% below guidance - no reason given
GMP Securities maintains a "buy", target of $2.95

Calpine Power Income Fund (CF.UN : TSX : $13.00)
Trustees rejecting the takeover offer
Canaccord Adams maintains a "hold", target of $13.50
Desjardins Securities maintains a "hold", raises target to $13.25 from $12.50
TD Newcrest maintains a "hold", target of $12.25

Chemtrade Logistics Inc Fd (CHE.UN : TSX : $7.86)
Cutting distributions by 16.6% to $1.20 per unit per year
Blackmont Capital maintains a "sell", target of $7.00
TD Newcrest downgrades to a "hold" from "buy", lowers target to $8.00 from $11.00

Cumberland Resources (CLG : TSX : $5.98)
Received a project certificate for Meadowbank
Raymond James maintains a "strong buy", target of $7.75

Canadian Royalties Inc (CZZ : TSX : $2.45)
Positive drill results from 27 holes in the Tootoo zone at their Raglan South Nickel Project
Blackmont Capital maintains a "buy", target of $3.20
Raymond James maintains a "strong buy", target of $3.25

Descartes Systems Group (DSG : TSX : $4.10 | DSGX : NASDAQ : US$3.47)
Focusing on services for the logistics and transportation provider community - competition is highly fragmented
CIBC World Markets initiates coverage with a "sector outperformer", target of US$5.50

First National Financial (FN.UN : TSX : $13.55)
Distribution increase imminent?
RBC Capital Markets maintains an "outperform", raises target to $14.50 from $13.25

FNX Mining Company (FNX : TSX : $16.65)
Canaccord Adams raises their nickel price forecasts
Canaccord Adams maintains a "buy", raises target to $22.00 from $17.50

Inmet Mining (IMN : TSX : $51.79)
Canaccord Adams lowering its copper price forecasts
Canaccord Adams maintains a "buy", target of $70.00
CIBC World Markets upgrades to a "sector outperformer" from "sector performer", target of $75.00

JDS Uniphase (JDU : TSX : $20.75 | JDSU : NASDAQ : US$17.73)
Acquiring Casabyte - a small wireless test/measurement vendor
GMP Securities maintains a "buy", target of US$22.00

Kaboose Inc (KAB : TSX : $2.20)
Acquires Internet photo sharing service BubbleLabs for US$2.25 million
GMP Securities maintains a "buy", target of $2.95

Killam Properties Inc (KMP : TSX : $2.50)
Fundamentals are improving with a potential REIT conversion
Canaccord Adams upgrades to a "buy" from "hold", raises target to $3.10 from $3.00

LionOre Mining International (LIM : TSX : $12.35)
Canaccord Adams raises their nickel price forecasts
Canaccord Adams maintains a "buy", raises target to $17.50 from $12.50

MacDonald Dettwiler & Assoc. (MDA : TSX : $42.10)
Market not adequately reflecting their U.K. business
RBC Capital Markets maintains a "top pick", target of $55.00

Northern Peru Copper (NOC : TSX : $5.75)
Release a better-than-expected 43-101 compliant resource estimate for its Hilorico gold project
Raymond James maintains a "strong buy", target of $14.00

Northern Property REIT (NPR.UN : TSX : $27.58)
Approaching full value at current levels
Canaccord Adams downgrades to a "hold" from "buy", raises target to $28.75 from $28.00

Petro-Canada (PCA : TSX : $44.60)
Recent correction providing a timely buying opportunity
CIBC World Markets upgrades to a "sector outperformer" from "sector performer", target of $57.00

Peyto Energy Trust (PEY.UN : TSX : $16.94)
Approaching full value at current levels
CIBC World Markets downgrades to a "sector performer" from "sector outperformer", lowers target to $19.50 from $20.50

Rogers Communications (RCI.B : TSX : $35.05)
Releasing Q4/06 results today
RBC Capital Markets maintains a "top pick", target of $41.00

sxr Uranium One (SXR : TSX : $14.10)
Granted a 10-year export permit license for Honeymoon
Raymond James maintains a "strong buy", target of $16.75

Teck Cominco Ltd. (TCK.B : TSX : $78.79)
Canaccord Adams raises their nickel price forecasts
Canaccord Adams maintains a "buy", raises target to $93.00 from $90.00

West Fraser Timber Co. (WFT : TSX : $43.68)
Management's long-term real estate sales targets appear conservative
TD Newcrest maintains a "hold", raises target to $15.00 from $13.00

Torstar Corp. (TS.B : TSX : $19.40)
Q4 appears to be a weak quarter with advertising volumes down
Credit Suisse maintains a "neutral", target of $21.50

WestJet Airlines (WJA : TSX : $14.70)
Reported in-line load factor for December of 78%, completing a record year
CIBC World Markets maintains a "sector outperformer", target of $17.50
TD Newcrest maintains a "buy", raises target to $17.50 from $15.00