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Arctec

03/03/07 10:08 AM

#11661 RE: Arctec #11660

Ear on the Street

Astral Media (ACM.A : TSX : $41.35)
To acquire Standard radio
BMO Capital Markets maintains "market perform", 12-month target price is $46.00
CIBC World Markets maintains "sector perform", 12-month target price is $48.00
Desjardins Securities downgrades to "hold", 12-month target price is cut to $47.00
TD Newcrest downgrades to "reduce", 12-month target price is cut to $40.00

ARC Energy Trust (AET.UN : TSX : $22.11)
Strong Q4
BMO Capital Markets maintains "outperform", 12-month target price is $23.50
Canaccord Adams maintains "buy", 12-month target price is $24.00
CIBC World Markets maintains "sector perform", 12-month target price is raised to $24.00
Raymond James maintains "outperform", 6-12 month target price is cut to $24.00
Scotia Capital Markets maintains "sector perform", 12-month target price is $22.50
TD Newcrest maintains "buy", 12-month target price is $23.00

Atrium Biotechnologies (ATB : TSX : $16.98)
Q4 to be reported today
RBC Capital Markets maintains "outperform", 12-month target price is $19.00

Ballard Power Systems (BLD : TSX : $7.97 | BLDP : NASDAQ : US$6.88)
Uncertain long-term prospects
RBC Capital Markets maintains "underperform", 12-month target price is US$4.00

Boralex Power Income Fund (BPT.UN : TSX : $10.04)
Solid Q4
BMO Capital Markets maintains "market perform", 12-month target price is $9.00
Canaccord Adams maintains "sell", 12-month target price is $9.00
Desjardins Securities maintains "hold", 12-month target price is $10.00
TD Newcrest maintains "hold", 12-month target price is $9.00

Breakwater Resources (BWR : TSX : $2.03)
Q4 beats expectations
Canaccord Adams maintains "buy", 12-month target price is raised to $2.90
TD Newcrest maintains "buy", 12-month target price is $2.50

CAE Inc. (CAE : TSX : $12.43)
Aircraft deliveries is expected to be up 5% in 2007
Canaccord Adams maintains "sell", 12-month target price is $9.00

Cascades Inc. (CAS : TSX : $13.13)
Q4 misses
Scotia Capital Markets maintains "sector perform", 12-month target price is $15.00

CCL Industries (CCL.B : TSX : $35.94)
Q4 stronger than expected
BMO Capital Markets maintains "outperform", 12-month target price is raised to $40.00

Canfor Corporation (CFP : TSX : $11.81)
Weak Q4
BMO Capital Markets maintains "underperform", 12-month target price is $9.00
CIBC World Markets maintains "sector underperform", 12-month target price is cut to $8.00
Raymond James upgrades to "outperform", 6-12 month target price is raised to $13.00
RBC Capital Markets maintains "sector perform", 12-month target price is $11.00
Scotia Capital Markets maintains "sector perform", 12-month target price is $12.85

Corus Entertainment (CJR.B : TSX : $47.83 | CJR : NYSE : US$41.34)
Implication of Astral's acquisition of Standard Radio
BMO Capital Markets upgrades to "outperform", 12-month target price is raised to $55.00
CIBC World Markets maintains "sector outperform", 12-month target price is $50.00

Canadian National Railway (CNR : TSX : $53.75 | CNI : NYSE : US$46.35)
Reached tentative deal with the union
TD Newcrest maintains "hold", 12-month target price is $58.00

Consumers Waterheater Fund (CWI.UN : TSX : $14.95)
Portfolio shifts to higher rental rate appliances
Scotia Capital Markets maintains "sector outperform", 12-month target price is $15.25

Eastern Platinum (ELR : TSX : $1.82)
Impressed with site visit to Crocodile River PGM mine in South Africa
Raymond James maintains a "strong buy", 6-12 month target price is $2.75

Emergis (EME : TSX : $5.40)
Upside opportunity from potential regional Ontario EHR wins
Scotia Capital Markets maintains a "sector outperform", 1-year target price raised to $6.50

Enerplus Resources Fund (ERF.UN : TSX : $51.19 | ERF : NYSE : US$44.13)
Fourth quarter results meet expectations
Scotia Capital Markets maintains a "sector perform", 1-year target price is $53.00

Equitable Group Inc. (ETC : TSX : $34.20)
Fourth quarter results expected today
Blackmont Capital maintains a "buy", 12-month target price is $36.00

Fairfax Financial Holdings (FFH : TSX : $227.81 | NYSE : US$195.82)
Posts solid quarter
Scotia Capital Markets maintains a "sector perform", 1-year target price is US$195.00

FNX Mining Company (FNX : TSX : $21.44)
Q4 results slightly above estimates
BMO Nesbitt Burns maintains a "market perform", target price raised to $24.00
Canaccord Adams maintains a "buy", target price is $25.00
RBC Capital Markets maintains a "outperform", target price raised to $25.00

Home Capital Group (HCG : TSX : $37.50)
Bolstering commercial mortgage business with new hire
Blackmont Capital maintains a "hold", 12-month target price is $38.00

International Minerals (IMZ : TSX : $5.80)
FQ2/07 results meet expectations
RBC Capital Markets maintains a "sector perform", target price is $6.50

Inter Pipeline Fund (IPL.UN : TSX : $9.08)
Posts solid quarter
BMO Nesbitt Burns maintains a "market perform", target price raised to $9.00
CIBC World Markets maintains a "sector outperform", target price raised to $10.00
Scotia Capital Markets maintains a "sector perform", 1-year target price is $8.75
TD Newcrest maintains a "hold", 12-month target price is raised to $8.50

Jaguar Mining Inc. (JAG : TSX : $6.80)
Summary results released from pre-feasibility on Santa Isabel mine
TD Newcrest maintains a "speculative buy", 12-month target price is raised to $9.00

Legacy Hotels Real Estate Tr. (LGY.UN : TSX : $11.26)
In line Q4/06 results
Scotia Capital Markets maintains a "sector perform", 1-year target price raised to $11.25

MacDonald Dettwiler & Assoc. (MDA : TSX : $49.25)
Q4 preview
RBC Capital Markets maintains "top pick", 12-month target price is $60.00

Maple Leaf Foods (MFI : TSX : $14.94)
Q4 EPS beats expectations
Scotia Capital Markets maintains "sector perform", 12-month target price is $14.75

Meridian Gold (MNG : TSX : $33.90 | MDG : NYSE : US$29.26)
Aggressive exploration program
Blackmont Capital maintains "buy", 12-month target price is $39.00
BMO Capital Markets downgrades to "market perform", 12-month target price is cut to $34.00
RBC Capital Markets maintains "underperform", 12-month target price is US$32.00

March Networks (MN : TSX : $11.49)
To report Q3 today
CIBC World Markets maintains "sector perform", 12-month target price is $14.00

Morguard Real Estate Inv Trust (MRT.UN : TSX : $15.44)
Q4 in line
RBC Capital Markets maintains "outperform", 12-month target price is $16.50

MOSAID Technologies (MSD : TSX : $27.84)
Q3 better than expected
BMO Capital Markets maintains "outperform", 12-month target price is $36.00
Scotia Capital Markets maintains "sector outperform", 12-month target price is $43.00

Northbridge Financial (NB : TSX : $30.77)
Slightly negative Q4 results
BMO Nesbitt Burns maintains "market perform", 12-month target price is $33.50
RBC Capital Markets rates "outperform", 12-month target price is $36.00
Scotia Capital Markets rates "sector underperform", 12-month target price is cut to $33.00
TD Newcrest maintains "hold", 12-month target price is $33.00

Platmin Ltd (PPN : TSX : $6.90)
85% appreciation since IPO
RBC Capital Markets downgrades to "sector perform", 12-month target price is $7.75

PrimeWest Energy Trust (PWI.UN : TSX : $23.00 | PWI : NYSE : US$19.81)
Strong reserve additions
Scotia Capital Markets rates "sector perform", 12-month target price is $23.00

QLT Inc. (QLT : TSX : $10.48)
Visudyne still uncertain
Scotia Capital Markets maintains "sector underperform", 12-month target price is $6.00

Royal Utilities Income Fund (RU.UN : TSX : $12.32)
Agreement to extend contracts
BMO Nesbitt Burns maintains "market perform", 12-month target price is $11.25
RBC Capital Markets maintains "sector perform", 12-month target price is $12.25

Silver Eagle Mines (SEG : TSX : $1.43)
Miguel Auza progressing well
Blackmont Capital maintains "buy", 12-month target price is $2.20

Storm Exploration Inc. (SEO : TSX : $7.10)
Year-end results show strong performance
Canaccord Capital maintains "buy", 12-month target price is $9.25

Semafo Inc. (SMF : TSX : $2.45)
Expect increased gold production
Blackmont Capital downgrade to "hold", 12-month target price is $2.30

SNC-Lavalin Group (SNC : TSX : $35.99)
In-line Q4 results
BMO Nesbitt Burns maintains "market perform", 12-month target price is $36.00
Desjardins Securities downgrades to "hold", 12-month target price is raised to $37.00
RBC Capital Markets rate "outperform", no target price reported

Sherritt International (S : TSX : $15.11)
Waiting for nickel price forecast
Desjardins Securities put "buy" and $14.05 target under review
RBC Capital Markets rates "sector perform", 12-month target price is $15.50

Stantec Inc. (STN : TSX : $29.63 | SXC : NYSE : US$25.46)
Reaping benefits of previous acquisitions
Scotia Capital Markets maintains "sector perform", 12-month target price is $30.00

Suncor Energy (SU : TSX : $85.83 | NYSE : US$74.06)
Largest resource base in Athabasca Oil Sands
Raymond James rates "outperform", 12-month target price is $105.00

sxr Uranium One (SXR : TSX : $18.07)
Definitive agreement signed for Shooting Canyon Uranium Mill and US properties
Canaccord Adams maintains a "speculative buy", target price is $19.50

TD Bank (TD : TSX : $70.87 | NYSE : US$61.17)
Strong across all segments
TD Newcrest maintains "sector perform", 12-month target price is $81.00

Tundra Semiconductor (TUN : TSX : $10.32)
Q3 preview
Blackmont Capital maintains "buy", 12-month target price is $13.00
CIBC World Markets maintains "sector perform", 12-month target price is $13.00

Vault Energy Trust (VNG.UN : TSX : $4.97)
Year-End reserves in-line
Scotia Capital Markets maintains "sector underperform", 12-month target price is $4.50

Wescast Industries (WCS.A : TSX : $14.00)
Produce exhaust manifolds
BMO Nesbitt Burns maintains "market perform", 12-month target price is $12.50

Western Oil Sands Inc (WTO : TSX : $33.55)
Pleasing performance at Athabasca
Scotia Capital Markets maintains "sector perform", 12-month target price is $32.00

Canadian Satellite Radio (XSR : TSX : $6.87)
More competitive pressure after the merger between XM and Sirius
Desjardins Securities maintains "hold", 12-month target price is $8.00