Upgrades, Downgrades and Target Changes - Mar 28 2012

Company	Ticker	Rating/Target Change
Alliance Grain Traders	AGT	cuts target to C$17 from C$21; hold	Canaccord Genuity
	AGT	cuts price target to C$21 from C$25	CIBC
	AGT	cuts price target to C$17.50 from C$20	NBF
	AGT	Cuts target price to C$22 from C$24	Raymond James
	AGT	cuts to sectorperform from outperform	Stonecap Securities
Arian Silver	AGQ	starts with strong buy; price target C$0.85	Fraser Mackenzie
Canadian Pacific Railway	CP	raises price target to C$72 from C$66.50	NBF
Canadian Helicopters	CHL.A	raises price target to $36 from $30; keeps outperfom	NBF
Centerra Gold Inc	CG	cuts target to C$23.50 from C$26; rating buy	Canaccord Genuity
	CG	cuts price target to C$23 from C425; rating buy	UBS
	CG	cuts target to C$23.40 from C$25.40; rating buy	Salman Partners
	CG	cuts price target to C$22.50 from C425	BMO Capital
Chinook Energy Inc	CKE	raises target to C$2.50 from C$2.40; rating outperform	RBC
Cluff Gold	CFG	cuts price target to C$3.65 from C$3.75; rating buy	Clarus
Copper Mountain Mining Corp	CUM	cuts to market perform from outperform	BMO
	CUM,	cuts target to C$6.50 from C$6.75	LB Securities
	CUM	cuts target to C$7.25 from C$8; rating buy	Paradigm
DeeThree Exploration Ltd	DTX	raises target to C$5.25 from C$5; rating buy	Dundee
	DTX	resumes with outperform rating; target of C$5.75	Macquarie
	DTX	reinstates coverage with sector outperform	NCP Northland
Enbridge	ENB	raises price target to C$40 from C$39; rating hold	Canaccord Genuity
	ENG	raises price target to C$44 from C$41	CIBC
	ENB	raises price target to C$41 from C$40; rating neutral	UBS
	ENB	raises price target to C$41 from C$38; rating market perform	BMO
Entree Gold	EGT	raises target to C$3.75 from C$3.50; speculative buy	TD Securities
EXFO Inc	EXF	raises price target to C$7.50 from C$7; rating hold	TD Securities
Fortuna Silver Mines	FVI	cuts target by C$0.65 to C$6.60; sector outperform	Haywood
Genivar Inc	GNV	cuts target price to C$31 from C$33; rating outperform	Raymond James
Geologix Explorations Inc	GIX	cuts to sector perform from outperform	NBF
Gibson Energy Inc	GEI	starts with sector performer rating; price target C$22	CIBC
Greenfields Petroleum	GNF	starts with outperform; price target C$14	Stonecap
Harry Winston Diamond	HW	cuts rating to market perform from outperform ;BMO Capital raises price target to C$16 from C$15	BMO Capital
IBI Group Inc	IBG	cuts to hold from buy	Desjardins
	IBG	raises target to C$17 from C$16; outperform	Stonecap Securities
	IBG	raises price target to C$17.50 from C$16; rating buy	TD Securities
Lake Shore Gold	LSG	cuts price target to C$1.75 from C$2.05, hold	Canaccord Genuity
Morneau Shepell Inc	MSI	raises price target to C$12.50 from C$11.50	CIBC
North American Energy Partners	NOA	raises price target to C$5.50 from C$5	CIBC
	NOA	cuts target to C$11 from C$12; rating buy	UBS
WestFire Energy Ltd	WFE	cuts target to C$7.75 from C$8.50; outperform	Raymond James
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