Upgrades, Downgrades and Target Changes - Mar 27 2012

Company	Ticker	Rating/Target Change
Artis Real Estate Investment Trust	AX.UN	raises target to C$17.50 from C$16.50	CIBC
	AX.UN	ups target to C$18 from C$15	Macquarie
Canacol Energy Ltd	CNE	cuts price target to C$1.40 from C$1.60	Fraser Mackenzie
	CNE	cuts target to C$1.60 from C$1.65; rating buy	Mackie research
Centerra Gold Inc	CG	cuts target to C$22.50 from C$25; rating outperform	BMO Capital
Cineplex Inc	CGX	raises price target to C$32 from C$30; rating outperform	BMO
Detour Gold Corp	DGC	cuts price target to C$36 from C$43, rating sector perform	RBC
Energy Fuels	EFR	cuts price target to C$1 from C$1.10; rating buy	Dundee capital
Genivar Inc	GNV	raises price target to C$32 from C$30	CIBC
	GNV	upgrades to buy from hold	Desjardins
	GNV	cuts to hold from buy ;cuts price target to C$28 From C$30	TD Securities
Jaguar Mining Inc	JAG	cuts target to C$2.60 from C$5.40; rating sector perform	NBF
Lake Shore Gold Corp	LSG	cuts target to C$2.60 from C$3; rating buy	Mackie research
NAL Energy Corp	NAE	cuts to sector performer from sector outperformer ;cuts price target to C$8.60 from C$10.50	CIBC
Nautilus Minerals Inc	NUS	cuts target to C$2.50 from C$3; rating hold	TD Securities
Norbord Inc	NBD	raises price target to C$16 from C$14; rating outperform	RBC
Northern Property REIT	NPR.UN	raises price target to C$33 from C$32.50	CIBC
Eco Oro Minerals Corp	GSL	cuts target to C$2 from C$2.50, rating underperform	RBC
First Quantum Minerals Ltd	FM	cuts price target to C$23 from C$25.50; rating buy	UBS
Research In Motion	RIM	raises target by 11 percent to $17; neutral	Exane
SNC Lavalin Group Inc	SNC	raises target to C$46 from C$40; rating market perform	BMO
	SNC	cuts target to C$49 from C$58; buy	Canaccord Genuity
	SNC	cuts price target to C$52 from C$53	CIBC
	SNC	cuts target to C$54 from C$58.25; rating buy	Desjardins
	SNC	cuts to hold from buy	Paradigm Capital
	SNC	Upgrades to outperform from market perform	Raymond James
	SNC	raises to buy from hold raises price target to c$50 from c$46	TD Securities
	SNC	raises to buy from neutral	Versant partners
Stonegate Agricom Ltd	ST	cuts target to C$1.50 from C$1.65; rating buy	LB Securities
	ST	cuts target to C$1.40 from C$1.80; rating buy	Octagon capital
Student Transportation Inc	STB	ups to outperform from market perform	Raymond James
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