Ear on the Street
Air Canada (AC.B : TSX : $18.10)
Upside potential
CIBC World Markets maintains "sector outperform", 12-month target price is $24.00
ACE Aviation Holdings (ACE.B : TSX : $33.89)
Disclosure of more details related to Aeroplan distribution
CIBC World Markets maintains "sector perform", 12-month target price is raised to $38.50
Alberta Clipper Energy (ACN : TSX : $5.22)
New corporate presentation shows additional operational insights
GMP Securities maintains "buy", 12-month target price is $9.00
Addenda Capital (ADV : TSX : $26.50)
Q4 slightly lower than expected
CIBC World Markets downgrades to "sector perform", 12-month target price is raised to $30.00
Sprott Securities maintains "buy", 12-month target price is $29.50
AlarmForce Industries (AF : TSX : $5.33)
Q4 in line
Haywood Securities maintains "sector outperform", 12-month target price is raised to $6.65
Algoma Steel (AGA : TSX : $35.03)
New Street coverage
RBC Capital Markets initiates coverage with a "outperform", 12-month target price is $40.00
Scotia Capital Markets maintains "sector outperform", 12-month target price is $45.75
Abitibi-Consolidated (A : TSX : $3.87 | ABY : NYSE : US$3.28)
To merger with Bowater
Desjardins Securities maintains "hold", 12-month target price is raised to $3.75
Raymond James maintains "underperform", 6-12 month target price is raised to $3.75
RBC Capital Markets upgrades to "sector perform", 12-month target price is raised to $4.00
TD Newcrest maintains "hold", 12-month target price is raised to $4.50
A&W Revenue Royalties (AW.UN : TSX : $13.99)
Downgrade on price appreciation
Canaccord Adams downgrades to "hold", 12-month target price is $13.65
Bombardier Inc. (BBD.B : TSX : $4.43)
An update on Cseries expected
RBC Capital Markets maintains "underperform", 12-month target price is $3.50
Bulldog Resources (BD : TSX : $4.77)
Southeast Saskatchewan niche player
Canaccord Adams maintains "buy", 12-month target price is $6.75
BTB Real Estate Investment Tru (BTB.UN : TSX-V : $2.25)
Announces agreements to purchase two commercial properties in Quebec
Blackmont Capital maintains a "buy", 12-month target price is $2.60
Calpine Power Income Fund (CF.UN : TSX : $12.82)
Harbinger increased bid to $13.00/unit
Desjardins Securities maintains "hold", 12-month target price is cut to $13.00
Calfrac Well Services (CFW : TSX : $19.16)
The improvement of business model
Sprott Securities maintains "buy", 12-month target price is $30.00
ConjuChem Biotechnologies (CJB : TSX : $0.83)
F2006 loss driven by significant higher R&D expenses
RBC Capital Markets maintains "sector perform", 12-month target price is $1.00
Celestica Inc. (CLS : TSX : $9.00 | NYSE : US$7.62)
Q4 preview
Blackmont Capital maintains "buy", 12-month target price is $13.00
Scotia Capital Markets maintains "sector perform", 12-month target price is $11.40
Canadian Natural Resources (CNQ : TSX : $58.96 | NYSE : US$50.01)
Upgrade on valuation
TD Newcrest upgrades to "hold", 12-month target price is $58.00
Canadian National Railway (CNR : TSX : $51.99 | CNI : NYSE : US$44.03)
The implication of Aitibi and Bowater merger
Canaccord Adams maintains "hold", 12-month target price is $56.00
Canadian Oil Sands Trust (COS.UN : TSX : $30.34)
Q4 funds from operation slightly more than consensus
Canaccord Adams maintains "buy", 12-month target price is $33.00
CIBC World Markets downgrades to "sector underperform", 12-month target price is $27.50
Raymond James maintains "outperform", 6-12 month target price is $34.00
RBC Capital Markets maintains "underperform", 12-month target price is $27.00
TD Newcrest maintains "hold", 12-month target price is $30.00
Canadian Pacific Railway (CP : TSX : $63.40)
Fertilizer and fuel surchanges
Canaccord Adams maintains "buy", 12-month target price is $68.50
Dalsa Corp. (DSA : TSX : $12.71)
Q4 preview
Blackmont Capital maintains "buy", 12-month target price is $20.70
Raymond James maintains "market perform", 6-12 month target price is $14.50
Energy Metals (EMC : TSX : $10.10)
Downgrade on price appreciation
Raymond James downgrades to "outperform", 6-12 month target price is $11.50
Enbridge Income Fund (ENF.UN : TSX : $11.23)
Fourth-quarter results
Canaccord Adams maintains a "sell", target price is $10.00
RBC Capital Markets maintains a "underperform", target price is $11.00
Global Railway Industries (GBI : TSX : $3.15)
Another solid year expected
Sprott Securities reiterates "buy", target price is $3.65
Groupe Laperriere & Verreault (GLV.A : TSX : $32.26)
Met with Krebs' senior management and visited operations
Blackmont Capital maintains a "buy", 12-month target price is raised to $39.00
Gerdau AmeriSteel (GNA : TSX : $11.56 | NYSE : US$9.83)
Strategic acquisitions fuels earnings
RBC Capital Markets initiates coverage with a "outperform", 1-year target price is $12.00
Galleon Energy (GO.A : TSX : $15.42)
2008 forecast looking strong
GMP Securities upgrades to "focus buy", target price raised to $25.00
HudBay Minerals (HBM : TSX : $21.27)
China continues to be net exporter of zinc in December
Desjardins Securities maintains a "top pick", target price is $27.30
IPSCO Inc. (IPS : TSX : $115.75 | NYSE : US$98.05)
New large diameter pipe and heat treat investment
RBC Capital Markets initiates coverage with a "top pick", 12-month target price is $116.00
Scotia Capital Markets maintains "sector outperform", 12-month target price is $165.00
The Keg Royalties Income Fd (KEG.UN : TSX : $13.14)
Price appreciation behind downgrade
Canaccord Adams downgrades to "hold", target price is $12.40
Killam Properties Inc (KMP : TSX : $2.39)
Annual dividend announced
Blackmont Capital maintains a "buy", 12-month target price is $3.15
MDS Inc. (MDS : TSX : $20.44 | MDZ : NYSE : US$17.32)
Buying Molecular Devices for US$615 million
Desjardins Securities maintains a "hold", target price is $22.50
Raymond James maintains "market perform", 6-12 month target price is $20.25
RBC Capital Markets maintains a "sector perform", target price is $23.00
Moto Goldmines (MGL : TSX : $7.05)
Moto fights back; OKIMO intends to list on AIM
Haywood Securities maintains a "sector outperform", 12-month target price is $8.65
Marsulex Inc. (MLX : TSX : $8.60)
Planning to refinance high-yield debt
Blackmont Capital maintains a "buy", 12-month target price is $9.75
Newalta Income Fund (NAL.UN : TSX : $24.80)
Q4 preview
CIBC World Markets maintains "sector outperform", 12-month target price is cut to $32.00
Novadaq Technologies (NDQ : TSX : $7.35)
New Microsurgery device
Blackmont maintains "buy", 12-month target price is $15.00
Novelis (NVL : TSX : $42.94 | NYSE : US$36.61)
A potential sale of the company
Scotia Capital Markets maintains "sector underperform", 12-month target price is $30.00
PDM Royalties Income Fund (PDM.UN : TSX : $10.03)
Hold on price appreciation
Canaccord Capital decreases to "hold", 12-month target price is $9.50
Pengrowth Energy Trust (PGF.UN : TSX : $20.13 | PGH : NYSE : US$17.06)
Provides 2007 guidance
Raymond James maintains "market perform", 12-month target price is $19.00
Scotia Capital Markets maintains "sector underperform", 12-month target price is $18.00
Pacific Stratus Energy (PSE : TSX-V : $7.75)
Drilling in Columbia
GMP Securities initiates coverage with a "buy", 12-month target price is $12.00
QLT Inc. (QLT : TSX : $10.72 | QLTI : NASDAQ : US$9.07)
Q4 preview
Raymond James maintains "market perform", 6-12 month target price is US$7.50
Scotia Capital Markets maintains "sector underperform", 12-month target price is US$5.50
Richelieu Hardware (RCH : TSX : $24.00)
Q4 in line
Scotia Capital Markets maintains "sector perform", 12-month target price is $27.50
Real Resources (RER : TSX : $14.89)
Reduced 2007 production forecast
Raymond James maintains "strong buy", 6-12 month target price is cut to $25.50
Rubicon Minerals (RMX : TSX : $0.74)
Spin-out of two new companies
Blackmont maintains "buy", 12-month target price is cut to $0.90
Second Cup Royalty (SCU.UN : TSX : $9.95)
Hold on price appreciation
Canaccord Capital decreases to "hold", 12-month target price is $9.75
Sure Energy (SHR : TSX : $0.90)
Micro-cap with a farm-in option on a huge land base
Canaccord Capital resumes coverage with a "hold", 12-month target price is $1.10
Stelco Inc. (STE : TSX : $21.10)
High operating and financial leverage
RBC Capital Markets initiates coverage with a "underperform", 12-month target price is $20.00
Silverwing Energy (SVW : TSX : $0.69)
Experienced team with big growth ambitions
Canaccord Capital initiates coverage with a "speculative buy", 12-month target price is $1.10
Sierra Wireless (SW : TSX : $17.43 | SWIR : NASDAQ : US$14.77)
Q4 preview
Raymond James maintains "outperform", 6-12 month target price is $16.50
Scotia Capital Markets maintains "sector outperform", 12-month target price is $21.50
TransAlta Corp. (TA : TSX : $25.27 | TAC : NYSE : US$21.39)
Downgrade on price appreciation
Scotia Capital Markets maintains "sector perform", 12-month target price is $28.00
Twin Butte Energy (TBE : TSX : $0.60)
Experienced team with tax advantage
Canaccord Capital resumes coverage with a "speculative buy", 12-month target price is $0.85
TECSYS Inc. (TCS : TSX : $1.45)
Return to profitability
GMP Securities upgrades to 'buy", 12-month target price is $2.00
Triton Energy Corp. (TEZ : TSX-V : $1.70)
Significant near term exploration optionality
Canaccord Capital resumes coverage with a "speculative buy", 12-month target price is $1.90
Trafalgar Energy (TFL : TSX : $3.73)
New gas focused explorer
Canaccord Capital resumes coverage with "speculative buy", 12-month target price is $5.00
Talisman Energy (TLM : TSX : $20.54)
Large exploration portfolio
TD Newcrest upgrades to "buy", 12-month target price is $26.00
Xantrex Technology Inc. (XTX : TSX : $10.10)
Acquisition of competitor
Sprott Securities rates "buy", 12-month target price is raised to $12.00
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