The Trading Floor

[Arctec]

Ear on the Street

Air Canada (AC.B : TSX : $19.20)
Significant discount to other mainline airlines
CIBC World Markets maintains "sector outperform", 12-month target price is $24.00

Alexis Nihon REIT (AN.UN : TSX : $18.57)
Homburg will acquire Alexis Nihon for $18.60
RBC Capital Markets maintains "sector perform", 12-month target price is cut to $18.60
Scotia Capital Markets maintains "tender", 12-month target price is cut to $18.60

Aur Resources (AUR : TSX : $20.88)
Underperformance underserved
CIBC World Markets maintains "sector outperform", 12-month target price is $32.00

Bell Aliant (BA.UN : TSX : $29.66)
2007 guidance in line
BMO Capital Markets maintains "outperform", 12-month target price is $31.00
Desjardins Securities maintains "buy", 12-month target price is $31.00
GMP Securities maintains "hold", 12-month target price is $27.50
TD Newcrest maintains "hold", 12-month target price is cut to $30.00

Bear Ridge Resources (BER : TSX : $1.85)
Initiatives to reduce debt level
BMO Capital Markets maintains "outperform", 12-month target price is cut to $2.75

Bow Valley Energy (BVX : TSX : $6.02)
2006 U.K. reserve higher than expected
Blackmont Capital maintains "buy", 12-month target price is $7.50
Raymond James maintains "outperform", 6-12 month target price is cut to $8.25

CAP REIT (CAR.UN : TSX : $20.20)
Q4 meets expectations
Blackmont Capital maintains "hold", 12-month target price is $19.75

Cominar REIT (CUF.UN : TSX : $24.87)
Backed away from the agreement to acquire Alexis Nihon
Raymond James maintains "strong buy", 6-12 month target price is $27.00
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $26.00
Scotia Capital Markets maintains "sector outperform", 12-month target price is raised to $24.10

Canadian Royalties Inc (CZZ : TSX : $3.20)
40% increase in mill throughput
Blackmont Capital maintains "buy", 12-month target price is $3.20

Emergis (EME : TSX : $5.25)
Q4 preview
RBC Capital Markets maintains "outperform", 12-month target price is $6.00

Fraser Papers (FPS : TSX : $6.01)
Q4 miss expectations
BMO Capital Markets maintains "underperform", 12-month target price is $5.00

Forsys Metals (FSY : TSX : $8.45)
Prospecting in Namibia
Blackmont Capital maintains "hold", 12-month target price is $8.00

Gerdau AmeriSteel (GNA : TSX : $13.19)
Downgrade driven by price appreciation
Desjardins Securities downgrades to "hold", target price is $14.80

Leon's Furniture (LNF : TSX : $49.91)
Fourth quarter results slightly above expectations; ups dividend by 12%
BMO Nesbitt Burns maintains a "market perform", target price is $51.00
CIBC World Markets maintains "sector outperform", 12-month target price is raised to $55.00

MAG Silver Corp. (MAG : TSX-V : $8.36)
Optimistic after site visit
Raymond James maintains a "strong buy", 6-12 month target price is $10.00

MacDonald Dettwiler & Assoc. (MDA : TSX : $48.27)
Q4 to be lifted by strong U.K. housing market
Scotia Capital Markets maintains a "sector underperform", 1-year target price is $46.00

March Networks (MN : TSX : $11.22)
Q3/07 earnings expected to be released Wednesday February 28
BMO Nesbitt Burns maintains a "market perform", target price is $10.98

Medicure (MPH : TSX : $1.18)
Aggrastat salesforce deployed in U.S.
GMP Securities maintains a "buy", target price is $2.75

Macquarie Power & Infrastruct. (MPT.UN : TSX : $11.75)
Fourth quarter results slightly below estimates
RBC Capital Markets continues to rate "sector perform", target price is $10.00

Miranda Technologies (MT : TSX : $14.52)
Better than expected fourth quarter results
CIBC World Markets maintains a "sector perform", target price raised to $15.00
Raymond James maintains a "outperform", 6-12 month target price raised to $17.00
TD Newcrest maintains a "hold", 12-month target price is raised to $16.00

Open Text (OTC : TSX : $26.51 | OTEX : NASDAQ : US$22.86)
Diminished growth prospects and overvalued price
Canaccord Adams downgrades to "sell", target price is US$20.00

Polaris Minerals (PLS : TSX : $9.29)
Production starts at Orca quarry
GMP Securities maintains a "buy", target price raised to $12.00

Quebecor Inc. (QBR.B : TSX : $40.00)
Videotron posts another strong quarter
CIBC World Markets maintains a "sector perform", target price raised to $48.00
Scotia Capital Markets maintains a "sector outperform", 1-year target price raised to $46.25
BMO Nesbitt Burns maintains "market perform", 12-month target price is $45.00
Credit Suisse First Boston rates "neutral", 12-month target price is raised to $35.00
Desjardins Securities maintains "hold", 12-month target price is $40.00
RBC Capital Markets maintains "outperform", 12-month target price is $45.00

Research In Motion (RIM : TSX : $162.78 | RIMM : NASDAQ : US$140.27)
Popular pearl
Canaccord Capital rates "buy", 12-month target price is US$180.00

RONA Inc. (RON : TSX : $24.02)
On track for $7 billion in retail sales
Blackmont Capital rates "buy", 12-month target price is $27.50.

Rider Resources Ltd. (RRZ : TSX : $8.38)
Drilling aggressively this summer
Scotia Capital Markets maintains "sector perform", 12-month target price is $10.50

Strateco Resources (RSC : TSX-V : $3.41)
Good in-fill drill results
Blackmont Capital maintains "hold", 12-month target price is $3.70

Russel Metals (RUS : TSX : $28.00)
End market fundamentals favorable
BMO Nesbitt Burns rates "market perform", 12-month target price is $32.00
CIBC World Markets rate "sector outperform", 12-month target price is $31.00
Scotia Capital Markets maintains "sector perform", 12-month target price is $30.50

Silver Wheaton (SLW : TSX : $12.63 | NYSE : US$10.86)
Slightly above consensus
RBC Capital Markets maintains "sector perform", 12-month target price is $13.00

Southwestern Resources (SWG : TSX : $7.97)
Expect drilling approval
Raymond James maintains "strong buy", 12-month target price is $20.00

sxr Uranium One (SXR : TSX : $17.05)
Ur-Asia acquisition
Raymond James upgrade to "strong buy", 12-month target price is $20.00

TD Bank (TD : TSX : $70.20)
Expect dividend increase
CIBC World Markets rates "sector outperform", 12-month target price is $77.00

True Energy Trust (TUI.UN : TSX : $5.31)
Reasonable valuation
CIBC World Markets maintains "performer", 12-month target price is $7.25

Tundra Semiconductor (TUN : TSX : $10.19)
Potential adoption of RapidIO
Blackmont Capital upgrades to "buy", 12-month target price is $13.00

Van Houtte (VH : TSX : $24.45)
Takeout valuation estimate
GMP Securities Securities maintains "buy", 12-month target price is $30.00