The Trading Floor

[Arctec]

Ear on the Street

Addax Petroleum (AXC : TSX : $34.86)
Year-end results in line
RBC Capital Markets maintains "outperform", 12-month target price is $38.00

Birchcliff Energy (BIR : TSX : $3.73)
Q4 in line
GMP Securities maintains "buy", 12-month target price is $6.75

Airboss of America (BOS : TSX : $4.15)
Q4 earnings slightly below estimates
GMP Securities maintains "buy", 12-month target price is $6.90
Raymond James downgrades to "outperform", 6-12 month target price is cut to $5.40

The Brick Group Income Fund (BRK.UN : TSX : $8.80)
Q4 in line overall
BMO Capital Markets maintains "market perform", 12-month target price is raised to $8.50
CIBC World Markets maintains "sector outperform", 12-month target price is $10.00
RBC Capital Markets maintains "sector perform", 12-month target price is $8.50
TD Newcrest maintains "hold", 12-month target price is raised to $8.00

Descartes Systems Group (DSG : TSX : $4.87 | DSGX : NASDAQ : US$4.22)
Upbeat annual user conference
CIBC World Markets maintains "sector outperform", 12-month target price is US$5.50
GMP Securities maintains "buy", 12-month target price is $7.00

Prime Restaurants Royalty (EAT.UN : TSX : $7.70)
Weak Q4
RBC Capital Markets maintains "underperform", 12-month target price is $6.50

Fording Canadian Coal Trust (FDG.UN : TSX : $26.21 | FDG : NYSE : US$22.62)
Anticipate lower distributions to come - but in Q3 , not Q2
Canaccord Adams maintains a "sell", target price is $18.50
CIBC World Markets maintains "sector underperform", 12-month target price is cut to $22.00
TD Newcrest maintains "reduce", 12-month target price is cut to $21.00

CGI Group (GIB.A : TSX : $10.07 | GIB : NYSE : US$8.69)
A closer look at recent takeout multiples
BMO Capital Markets maintains "market perform", 12-month target price is $11.50
TD Newcrest maintains "hold", 12-month target price is raised to $10.00

Grey Wolf Exploration (GWE : TSX : $2.50)
2006 results slightly below expectations
BMO Capital Markets maintains "outperform", 12-month target price is $3.50

HudBay Minerals (HBM : TSX : $20.10)
Robust cash generation results in earlier tax reporting
CIBC World Markets maintains "sector outperform", 12-month target price is cut to $26.00

Husky Energy (HSE : TSX : $77.19)
Valero Lima refinery can be a downstream solution for Sunrise oil sands project
Desjardins Securities maintains "buy", 12-month target price is $85.00

Methanex Corp. (MX : TSX : $26.13 | MEOH : NASDAQ : US$22.55)
Declining methanol contract price
Canaccord Adams maintains "sell", 12-month target price is US$16.00

Novadaq Technologies (NDQ : TSX : $9.00)
Acquires Edwards Lifesciences' TMR business
RBC Capital Markets maintains "outperform", 12-month target price is $15.00

Nexen (NXY : TSX : $69.01 | NYSE : US$59.53)
Several near-term catalysts exist
Desjardins Securities upgrades to "top pick", 12-month target price is raised to $83.00

Paramount Resources (POU : TSX : $18.03)
Analysts adjust model after poor year-end reporting
Canaccord Adams maintains "buy", 12-month target price is cut to $22.00

Power Corp of Canada (POW : TSX : $37.21)
Q4 EPS in line
BMO Capital Markets maintains "outperform", 12-month target price is $41.00

Power Financial Corp. (PWF : TSX : $39.21)
Q4 basically in line
BMO Capital Markets maintains "outperform", 12-month target price is $43.50

Royal LePage Franchise Service (RSF.UN : TSX : $12.49)
Fourth-quarter results marginally below estimates
TD Newcrest maintains a "hold", 12-month target price is $11.50

RSX Energy (RSX : TSX-V : $3.06)
Winter drilling saw success in several areas
Haywood Securities maintains a "sector outperform", target price cut to $4.75

TIO Networks (TNC : TSX-V : $1.14)
Posts solid Q2/F07 results
GMP Securities maintains a "buy", target price is $1.70

Transition Therapeutics Inc (TTH : TSX : $1.60)
Expanding into Alzheimer's disease area with acquisition of NeuroMedix
GMP Securities reiterates "buy", target price is $3.50

Yamana Gold Inc. (YRI : TSX : $16.88 | AUY : NYSE : US$14.60)
Earnings lowered but valuation and growth story remains compelling
Canaccord Adams maintains a "buy", target price is US$19.50
Raymond James downgrades to "outperform", 6-12 month target price cut to US$19.40
RBC Capital Markets maintains a "sector perform", target price is US$16.00