Upgrades, Downgrades and Target Changes - May 22 2012

Company	Ticker	Rating/Target Change
Absolute Software Corp	ABT	BMO raises target to C$7 from C$6.50; rating outperform
Argonaut Gold	AR	Stonecap cuts target to C$9.20 from C$9.40; rating sector perform
Artis Real Estate Investment Trust	AX.UN	CIBC ups price target to C$18 from C$17.50
Canaccord Financial	CF	KBW cuts target to C$8.50 from C$10, rating market perform
Canaccord Financial	CF	Macquarie cuts target price to C$6.50 from C$9
Champion Minerals Inc	CHM	Raymond James raises target price to C$3 from C$2.90
Domtar	UFS	JP Morgan cuts price target to $90 from $100, rating neutral
Edleun Group Inc	EDU	Paradigm capital cuts price target to C$2 from C$2.50
Enbridge Inc	ENB	BMO raises price target to C$44 from C$42 ; rating market perform
Hudbay Minerals Inc	HUM	TD Securities cuts price target to C$11 from C$12
IGM Financial Inc	IGM	BMO cuts price target to C$45 from C$48; rating market perform
IGM Financial Inc	IGM	CIBC cuts price target to C$47 from C$50, sector performer rating
IGM Financial Inc	IGM	National Bank Financial cuts price target to C$49 from C$51
Sabina Gold and Silver Corp	SBB	RBC cuts target to C$5 from C$9, outperform rating
Sterling Resources Ltd	SLG	National Bank cuts price target to C$2.85 from C$3.20
Student Transportation	STB	Stifel starts with buy rating
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