The Trading Floor

[Arctec]

Absolute Software (ABT : TSX : $11.14)
Blow-away Q2
GMP Securities upgrades to "buy", 12-month target price is raised to $16.00
TD Newcrest upgrades to "buy", 12-month target price is raised to $14.00

Air Canada (AC.B : TSX : $19.10)
January traffic up 3.9%
CIBC World Markets maintains "sector outperform", 12-month target price is $24.00

Antrim Energy (AEN : TSX : $4.69)
New Street coverage
GMP Securities initiates coverage with a "buy", 12-month target price is $6.50

Abitibi-Consolidated (A : TSX : $3.82 | ABY : NYSE : US$3.23)
To report Q4 today
RBC Capital Markets maintains "sector perform", 12-month target price is $4.00

ATS Automation Tooling Systems (ATA : TSX : $12.60)
Amended Photowatt prospectus
Blackmont Capital maintains "buy", 12-month target price is $13.70
Scotia Capital Markets maintains "sector outperform", 12-month target price is $15.50

A&W Revenue Royalties (AW.UN : TSX : $14.35)
Q4 sales growth better than expected
RBC Capital Markets maintains "sector perform", 12-month target price is $14.50

Axcan Pharma (AXP : TSX : $18.00 | AXCA : NASDAQ : US$15.20)
Q1 sales expected to be solid
RBC Capital Markets maintains "sector perform", 12-month target price is US$16.50

Bell Aliant (BA.UN : TSX : $28.60)
Clarifies competitive footprint calculation
GMP Securities maintains "hold", 12-month target price is $27.50

Berkana Energy (BEC : TSX-V : $1.70)
New Street coverage
Blackmont Capital initiates coverage with a "buy", 12-month target price is $2.50

Bonterra Energy Income Trust (BNE.UN : TSX : $24.75)
Upgrade on valuation
CIBC World Markets upgrades to "sector outperform", 12-month target price is $28.00

CAE Inc. (CAE : TSX : $11.48)
To report Q3 tomorrow
Canaccord Adams maintains "sell", 12-month target price is $8.00

CAP REIT (CAR.UN : TSX : $19.35)
Acquisition of luxury suites in Quebec
Scotia Capital Markets maintains "sector outperform", 12-month target price is $19.50

Calpine Power Income Fund (CF.UN : TSX : $13.07)
Competing bid from Khanjee Holding
Canaccord Adams maintains "hold", 12-month target price is raised to $13.50
TD Newcrest maintains "hold", 12-month target price is raised to $13.00

Chariot Resources (CHD : TSX : $0.80)
Update on Marcona
Haywood Securities maintains "sector outperform", 12-month target price is $1.10

Cumberland Resources (CLG : TSX : $7.07)
Target price reached
Canaccord Adams maintains "hold", 12-month target price is $7.25

Churchill Corporation (CUQ : TSX : $6.15)
Positive outlook
Blackmont Capital maintains "buy", 12-month target price is $8.00

Draxis Health (DAX : TSX : $6.17 | DRAX : NASDAQ : US$5.20)
Q4 preview
TD Newcrest maintains "action list buy", 12-month target price is US$6.50

Domtar Inc. (DTC : TSX : $9.19 | NYSE : US$7.76)
Q4 dragged by seasonality
CIBC World Markets maintains "sector perform", 12-month target price is $9.00
Desjardins Securities maintains "hold", 12-month target price is $9.50
Raymond James maintains "outperform", 6-12 month target price is $11.50
Scotia Capital Markets maintains "sector outperform", 12-month target price is US$9.15
TD Newcrest maintains "hold", 12-month target price is $10.50

Enbridge (ENB : TSX : $37.82 | NYSE : US$31.94)
Q4 in line
Scotia Capital Markets maintains "sector outperform", 12-month target price is $44.00

Fraser Papers (FPS : TSX : $5.96)
Q4 below expectations
RBC Capital Markets maintains "underperform", 12-month target price is $4.50
Scotia Capital Markets maintains "sector underperform", 12-month target price is $5.75

Great Lakes Hydro Inc. Fd. (GLH.UN : TSX : $18.91)
Q4 in line
RBC Capital Markets maintains "outperform", 12-month target price is $20.00
Scotia Capital Markets maintains "sector underperform", 12-month target price is $18.00

Groupe Laperriere & Verreault (GLV.A : TSX : $33.55)
Management changes
Blackmont Capital maintains "buy", 12-month target price is $39.00
Raymond James maintains "strong buy", 6-12 month target price is $36.50

Grand Petroleum (GPP : TSX-V : $3.55)
Diversified asset base
Blackmont Capital initiates coverage with a "buy", 12-month target price is $4.75

HudBay Minerals (HBM : TSX : $21.82)
Reseve increase at four producing minesites
Desjardins Securities maintains "top pick", 12-month target price is $27.30

Highpine Oil & Gas (HPX : TSX : $15.79)
New Street coverage
Blackmont Capital initiates coverage with a "buy", 12-month target price is $21.50

Husky Energy (HSE : TSX : $75.77)
Q4 production in line
CIBC World Markets maintains "sector perform", 12-month target price is raised to $85.00
RBC Capital Markets maintains "outperform", 12-month target price is $82.00

Quebecor World (IQW : TSX : $16.80 | NYSE : US$14.18)
Q4 preview
TD Newcrest maintains "reduce", 12-month target price is raised to $13.50

The Keg Royalties Income Fd (KEG.UN : TSX : $13.55)
Strong Q4
CIBC World Markets maintains "sector outperform", 12-month target price is raised to $14.00
RBC Capital Markets maintains "outperform", 12-month target price is $13.50

Canadian Hydro Developers (KHD : TSX : $6.28)
More details of GW Power acquisition
Scotia Capital Markets maintains "sector outperform", 12-month target price is $7.75

Kinross Gold (K : TSX : $15.34)
Bema deal not closed yet
RBC Capital Markets rates "sector perform", 12-month target price is $16.00

Migenix Inc. (MGI : TSX : $0.70)
Some clinical samples from Celgosivir Phase II study require retesting
Canaccord Adams maintains "buy", 12-month target price is $1.50

Melcor Developments (MRD : TSX : $22.50)
Record setting housing market in Alberta
Desjardins Securities maintains "top pick", 12-month target price is $33.15

Nortel Networks Corp. (NT : TSX : $32.20 | NYSE : US$27.19)
Searching for new CFO
RBC Capital Markets maintains "sector perform", 12-month target price is US$28.00

NuVista Energy Ltd (NVA : TSX : $13.40)
New Street coverage
Blackmont Capital initiates coverage with a "buy", 12-month target price is $16.00

Open Text (OTC : TSX : $23.13)
Hummingbird acquisition
CIBC World Markets maintains "sector perform", 12-month target price is US$20.00

Jean Coutu Group (PJC) (PJC.A : TSX : $15.87)
Strong sales performance
Desjardins Securities downgrade to "hold", 12-month target price is raised to $17.00
RBC Capital Markets rates "sector perform", 12-month target price is $16.00
Scotia Capital Markets maintains "sector perform", 12-month target price is $15.25

Potash Corp. of Saskatchewan (POT : TSX : $179.37 | NYSE : US$151.39)
Russia selling cheap potash
RBC Capital Markets rates "outperform", 12-month target price is $165.00
Scotia Capital Markets rates "sector outperform", 12-month target price is $200.00

Purepoint Uranium Group (PTU : TSX-V : $1.77)
Encouraging uranium levels
Blackmont Capital maintains "hold", 12-month target price is $1.60

Saputo Inc. (SAP : TSX : $39.12)
Produces higher value cheese
CIBC World Markets maintains "sector performer", 12-month target price is raised to $41.00
TD Newcrest maintains "buy", 12-month target price is $42.00

Taylor NGL LP (TAY.UN : TSX : $8.70)
Reported Q4 results
RBC Capital Markets rate "sector perform", 12-month target price is $8.50

TECSYS Inc. (TCS : TSX : $1.50)
Big contract landed
GMP Securities maintains "buy", 12-month target price is $2.00

Teranet Income Fund (TF.UN : TSX : $9.70)
Housing rebound in Ontario
Desjardins Securities maintains "buy", 12-month target price is $11.00

Trafalgar Energy (TFL : TSX : $3.89)
New Street coverage
Blackmont Capital initiates coverage with a "buy", 12-month target price is $5.00

Toromont Industries (TIH : TSX : $25.17)
Rally still has legs
Blackmont Capital maintains "buy", 12-month target price is $28.50
BMO Nesbitt Burns maintains "outperform", 12-month target price is $28.00
Scotia Capital Markets rate "sector outperform", 12-month target price is $52.00

TEAL Exploration & Mining (TL : TSX : $3.90)
Zambian copper belt
Haywood Securities rates "sector outperform", 12-month target price is $7.00

Thomson Corporation (TOC : TSX : $50.60 | NYSE : US$42.72)
Looking for dividend hike
CIBC World Markets maintains "sector perform", 12-month target price is US$45.00

Verenex Energy (VNX : TSX : $8.70)
Exploration activity in Libya
Canaccord Capital rate "hold", 12-month target price is $8.30

Breaker Energy Ltd. (WAV.A : TSX : $6.20)
Reserve report as expected
Blackmont Capital maintains "buy", 12-month target price is $7.00

WestJet Airlines (WJA : TSX : $15.07)
Will report on Feb 14
Scotia Capital Markets rates "sector perform", 12-month target price is $17.25

West Energy Ltd. (WTL : TSX : $4.80)
Operational momentum
Blackmont Capital initiates coverage with a "buy", 12-month target price is $7.50

Yamana Gold Inc. (YRI : TSX : $15.69 | AUY : NYSE : US$13.24)
Mildly positive results
Raymond James rates "strong buy", 12-month target price is raised to $17.75