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Arctec

02/18/07 6:00 PM

#11626 RE: Arctec #11625

Ear on the Street

AutoCanada Income Fund (ACQ.UN : TSX : $10.75)
Restructuring of Chrysler is positive for AutoCanada
Scotia Capital Markets maintains "sector outperform", 12-month target price is $12.50

Agnico-Eagle Mines (AEM : TSX : $47.10 | NYSE : US$40.53)
Friendly takeover bid for Cumber Resources
Blackmont Capital maintains "hold", 12-month target price is cut to $48.00
Desjardins Securities maintains "buy", 12-month target price is $62.75
Raymond James upgrades to "outperform", 6-12 month target price is raised to $54.00
RBC Capital Markets maintains "sector perform", 12-month target price is US$51.00

Algoma Steel (AGA : TSX : $51.44)
In talks with a potential buyer
BMO Capital Markets upgrades to "outperform", 12-month target price is raised to $60.00
CIBC World Markets maintains "sector outperform", 12-month target price is raised to $50.00
GMP Securities maintains "buy", 12-month target price is raised to $57.50
RBC Capital Markets maintains "outperform", 12-month target price is raised to $77.00

Alexis Minerals Corporation (AMC : TSX-V : $1.20)
More gold assays from Lac Herbin
Canaccord Adams maintains "buy", 12-month target price is raised to $1.35

Alexis Nihon REIT (AN.UN : TSX : $19.00)
Homburg offers $18.50/unit for Alexis Nihon
Scotia Capital Markets maintains "sector perform", 12-month target price is $18.75

ATS Automation Tooling Systems (ATA : TSX : $11.05)
Disappointing Q3
Blackmont Capital downgrades to "hold", 12-month target price is cut to $10.50
Credit Suisse maintains "neutral", 12-month target price is $11.25
Raymond James downgrades to "market perform", 6-12 month target price is cut to $11.50

ATS Andlauer Income Fund (ATS.UN : TSX : $13.00)
Q4 better than expected
RBC Capital Markets maintains "outperform", 12-month target price is raised to $13.00

Advantage Energy Income Fund (AVN.UN : TSX : $12.38 | AAV : NYSE : US$10.67)
$100 million financing closed
BMO Capital Markets maintains "underperform", 12-month target price is $12.00
CIBC World Markets reinstates coverage with a "sector underperform", 12-month target price is raised to $11.25
Scotia Capital Markets reinstates coverage with a "sector underperform", 12-month target price is $11.50

BPO Properties (BPP : TSX : $66.00)
Q4 FFO above expectations
CIBC World Markets maintains "sector outperform", 12-month target price is raised to $73.00

Chemtrade Logistics Inc Fd (CHE.UN : TSX : $8.12)
Conservative stance taken heading into fourth quarter earnings release
Blackmont Capital maintains a "sell", 12-month target price is $7.00

Cumberland Resources (CLG : TSX : $8.65)
Takeover bid from Agnico-Eagle
Raymond James downgrades to "market perform", 6-12 month target price is $8.50

Creststreet Power & Income (CRS.UN : TSX : $5.64)
Alberta windfarm transaction implies higher valuation metrics
Scotia Capital Markets maintains "sector perform", 12-month target price is raised to $5.25

Commercial Solutions (CSA : TSX : $6.28)
Weaker than expected Q1
GMP Securities maintains "buy", 12-month target price is $8.30
Raymond James downgrades to "market perform", 6-12 month target price is cut to $7.50

Chartwell Seniors Housing REIT (CSH.UN : TSX : $17.66)
Positive implication of higher bid for Sunrise
BMO Capital Markets maintains "market perform", 12-month target price is raised to $17.00

Catalyst Paper (CTL : TSX : $3.93)
Weak Q4
CIBC World Markets maintains "sector perform", 12-month target price is cut to $3.50
Raymond James maintains "underperform", 6-12 month target price is $3.25
RBC Capital Markets maintains "underperform", 12-month target price is $3.25

Labopharm Inc. (DDS : TSX : $6.99 | DDSS : NASDAQ : US$6.00)
Q4 and full-year results coming today
Canaccord Adams maintains a "buy", target price is $10.30

Empire Company (EMP.A : TSX : $41.86)
Future looking slightly better
Scotia Capital Markets upgrades to "sector perform", 1-year target price raised to $44.50

Extreme CCTV (EXC : TSX : $3.39)
Reports second quarter results
Canaccord Adams maintains a "speculative buy", target price raised to $3.90

HudBay Minerals (HBM : TSX : $23.08)
Production results from 2006 and guidance for 2007 meet expectations
RBC Capital Markets maintains a "outperform", target price is $29.00

Home Capital Group (HCG : TSX : $34.29)
Some concerns taken away from quarterly report
Blackmont Capital maintains a "hold", 12-month target price is $33.00

Cdn. Hotel Income Properties (HOT.UN : TSX : $16.71)
Reports in line Q4/06 results; ups distribution by 3.2%
BMO Nesbitt Burns maintains "outperform", target price raised to $17.00
Canaccord Adams maintains "buy", 12-month target price is raised to $17.00
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $17.00
Scotia Capital Markets maintains "sector outperform", 12-month target price is $16.40
TD Newcrest maintains a "buy", 12-month target price is raised to $17.00

Inmet Mining (IMN : TSX : $61.22)
Q4/06 results below expectations; 2007 production guidance short of estimates
Canaccord Adams reiterates "buy", target price is $70.00
CIBC World Markets maintains a "sector outperform", target price is $75.00
Credit Suisse maintains a "outperform", target price raised to $70.00
GMP Securities continues to rate "buy", target price is $72.00
TD Newcrest maintains a "buy", 12-month target price is raised to $70.00

IPL Inc. (IPI.A : TSX : $7.50)
Turnaround story showing momentum
GMP Securities upgrades to "buy", target price is $9.50

Canadian Hydro Developers (KHD : TSX : $6.30)
B.C. goes green
Scotia Capital Markets maintains "sector outperform", 12-month target price is $7.75

Mainstreet Equity (MEQ : TSX : $17.00)
Boosted by Alberta property values and rental conditions
Desjardins Securities maintains a "top pick", target price raised to $24.60

Melcor Developments (MRD : TSX : $24.00)
Potential highlighted by Brookfield's Alberta land operation
Desjardins Securities maintains a "top pick", target price is $33.15

Mavrix Fund Management (MVX : TSX : $1.90)
Reports fourth quarter and F06 results
GMP Securities reiterates "buy", 12-month target price is raised to $2.50

NUCRYST Pharmaceuticals (NCS : TSX : $4.88 | NCST : NASDAQ : US$4.22)
Sales of lead product slowing down
GMP Securities maintains a "buy", target price cut to US$8.00

Nortel Networks Corp. (NT : TSX : $36.09 | NYSE : US$31.06)
Slowly turning the corner
RBC Capital Markets maintains a "sector perform", target price raised to US$32.00

Onex Corporation (OCX : TSX : $29.55)
Reports Q4/06 and year-end results
BMO Nesbitt Burns maintains "outperform", 12-month target price is $33.00
GMP Securities rate "hold", 12-month target price is $28.55

Peyto Energy Trust (PEY.UN : TSX : $17.49)
2006 reserve report
BMO Nesbitt Burns maintains "market perform" 12-month target price is $18.00

ProEx Energy Ltd. (PXE : TSX : $13.36)
Pipeline bottlenecks hamper growth
Raymond James maintains "strong buy", 12-month target price is $22.00

Stylus Energy (STY : TSX : $2.70)
Oil and gas properties in Alberta
BMO Nesbitt Burns initiate coverage with "market perform", 12-month target price is $3.50

Sunrise Senior Living REIT (SZR.UN : TSX : $18.05)
New bid tops Ventas
BMO Nesbitt Burns rates "market perform", 12-month target price is raised to $18.00
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $18.00

Teck Cominco Ltd. (TCK.B : TSX : $87.39 | TCK : NYSE : US$75.18)
Soft quarter; outlook remains solid
BMO Nesbitt Burns maintains "market perform", 12-month target price is $86.00
CIBC World Markets maintains a "sector perform", target price is $100.00

Teknion Corporation (TKN : TSX : $4.25)
Continued FX pressure
BMO Nesbitt Burns upgrades to "market perform", 12-month target price is raised to $6.00
Scotia Capital Markets rates "sector underperform", 12-month target price is $4.40
TD Newcrest maintains "buy", 12-month target price is $5.50

TransCanada Corp. (TRP : TSX : $38.02 | NYSE : US$32.70)
$1.5 billion equity offering
CIBC World Markets maintains "sector outperform", 12-month target price is $43.00
Scotia Capital Markets rates "sector outperform", 12-month target price is reduced to $43.00

Workbrain Corp (WB : TSX : $9.69)
Weaker than expected results
CIBC World Markets maintains "sector perform", 12-month target price is $9.00
GMP Securities rate "buy", 12-month target price is $11.50
RBC Capital Markets downgrades to "sector perform", 12-month target price is $10.00
Scotia Capital Markets rates "sector underperform", 12-month target price is $8.50

WestJet Airlines (WJA : TSX : $15.72)
Q4 beats the expectations
BMO Nesbitt Burns maintains "market perform", 12-month target price is raised to $16.00
Canaccord Capital maintains "buy", 12-month target price is raised to $18.25
Credit Suisse maintains "outperform", 12-month target price is raised to $20.00
Desjardins Securities maintains "buy", 12-month target price is $17.50
Raymond James rates "outperform", 6-12 month target price is raised to $18.50
Scotia Capital Markets maintains "sector perform", 12-month target price is raised to $18.25
TD Newcrest maintains "buy", 12-month target price is raised to 19.00

George Weston Ltd. (WN : TSX : $72.00)
Bearish outlook at Loblaw dominates
CIBC World Markets maintains "sector underperform", 12-month target price is cut to $63.00
Credit Suisse maintains a "outperform", target price is $88.00
RBC Capital Markets maintains a "sector perform", target price is $75.00
Scotia Capital Markets downgrades to "sector underperform", 1-year target price cut to $71.50

TSX Group (X : TSX : $50.17)
New exchange in Calgary
CIBC World Markets maintains "sector outperform", 12-month target price is $60.00
Scotia Capital Markets rates "market perform", 12-month target price is $55.00