Upgrades, Downgrades and Target Changes - Mar 23 2012

Company	Ticker	Rating/Target Change
Advantage Oil	AAV	cuts target to C$5 from C$5.75; rating outperform	Raymond James
Canadian Pacific	CP	raises price target to C$74 from C$70	Td securities
Colabor Group	GCL	cuts target to C$6.75 from C$12; rating sell	Versant Partners
Delphi Energy Corp	DEE	cuts to speculative buy from buy	Canaccord Genuity
Franco Nevada Corp	FNV	TD Securitie raises to buy from hold	Td securities
	FNV	cuts price target to C$47.5 from C$49; rating buy	UBS
Innergex Renewable	INE	cuts to sector perform from outperform	National Bank Financial
	INE	cuts to hold from buy	Td securities
	INE	cuts price target to C$10 from C$10.50	Versant Partners
Ivanhoe Mines	IVN	cuts price target to C$19 from C$20; rating hold	Td securities
Jaguar Mining Inc	JAG	cuts to reduce from hold	Td securities
Miranda Technologies	MT	starts with outperform	National Bank Financial
Miranda Technologies	MT	raises target to C$14.50 from C$12.50	Canaccord Genuity
New Flyer	NFI	cuts price target to C$8.50 from C$9	CIBC
	NFI	cuts to hold from buy; target to C$6.25 from C$8.75	Canaccord Genuity
	NFI	cuts price target to C$8 from C$8.25; rating market perform	BMO
Strongco	SQP	raises price target to C$7.50 from C$6.50; rating market perform	BMO
	SQP	cuts price target to C$8 from C$9.50; rating outperform	Raymond James
Taseko Mines	TKO	cuts target price to C$4.10 from C$4.30	Canaccord Genuity
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