Upgrades, Downgrades and Target Changes - Apr 23 2012

Company	Ticker	Rating/Target Change
Algonquin Power & Utilities	AQN	raises price target to C$7 from C$6.50	CIBC
ATS Automation	ATA	downgrades to sector underperformer from sector performer	CIBC
AutoCanada	ACQ	raises target price to C$13.75 from C$12.70; rating buy	Clarus
Blackpearl resource	PXX	starts with buy; price target C$6.75	Dundee
Boralex	BLX	cuts price target to C$10.50 from C$12	CIBC
Brookfield Renewable Energy	BEP.UN	raises price target to C$28 from C$26.75	CIBC
Canadian Pacific Railway	CP	raises price target to C$78 from C$75	TD Securities
Canadian Pacific Railway	CP	raises price target to C$78 from C$76	BMO
Canadian Pacific Railway	CP	raises price target to C$92 from C$89	Canaccord Genuity
Canadian Pacific Railway	CP	raises price target to C$79 from C$72	Jefferies
Canadian Pacific Railway	CP	raises price target to C$77 from C$75	Raymond James
Canadian Pacific Railway	CP	raises price target to C$78 from C$75	UBS
Cervus Equipment Corp	CVL	raises price target to C$20 from C$18.25	LB Securities
Fortress Paper Ltd	FTP	reinstates with buy rating; price target of C$42	Dundee
Great West Lifeco Inc	GWO	N raises to outperform	ational Bank Financial
IBI Group Inc	IBI	resumes coverage of with buy; price target C$17.50	LB Securities
Innergex Renewable	INE	downgrades to sector performer from sector outperformer	CIBC
Northland Power	NPI	raises price target to C$17.50 from C$16.50	CIBC
Research In Motion	RIM	starts with hold rating	TD Securities
Westport Innovations	WPT	raises to sector performer from sector underperformer	CIBC
Whistler Blackcomb	WB	ups to buy from hold; target to C$13 from C$12	TD Securities
Whitecap Resources	WCP	resumes coverage with outperform; price target C$14	NBF
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