Upgrades, Downgrades and Target Changes - Jul 11 2012

Company	Rating/Target Change
Alimentation Couche Tard	NBF raises target to C$50 from C$49; rating outperform
Alimentation Couche Tard	Canaccord raises target to C$55 from C$50; rating buy
Alimentation Couche Tard	BMO raises price target to C$48 from C$45
Alimentation Couche Tard	RBC Raises Price Target To C$47 From C$46
BCE Inc	TD Securities cuts to reduce from hold
C&C Energia	TD Securities raises price target to C$13 from C$12.50; rating buy
Fortress Paper	Canaccord Genuity cuts target price to C$38 from C$42; rating buy
Fortuna Silver Mines Inc	BMO cuts price target to C$5 from C$6.50
Goldcorp	Credit Suisse cuts price target to $48 from $60; rating outperform
Goldcorp	RBC cuts price target to $52 from $62; rating outperform
Goldcorp	TD Securities cuts price target to $49 from $52; rating buy
Industrial Alliance	Canaccord cuts target to C$28 from C$28.50; rating hold
Intact Financial	Macquarie cuts target price to C$72 from C$73
Manulife	Canaccord cuts price target to C$13 from C$13.50; rating hold
MDC Partners	RBC cuts price target to $14 from $15; rating outperform
Nexen Inc	Barclays raises price target to C$24 from C$23
Postmedia Network	NBF cuts price target to C$1 from C$2; rating underperform
Postmedia Network	TD Securities cuts price target to C$1 from C$1.50
Postmedia Network	RBC cuts price target to C$1.50 from C$4
Sandspring Resources	RBC cuts price target to C$1.50 from C$3; rating outperform
South American Silver	NBF cuts to sector perform from outperform ;NBF cuts price target to C$0.60 from C$2.85
Sun Life Financial	Canaccord cuts price target to C$24 from C$25.50; rating hold
Telus Corp	NBF raises price target to C$65 from C$61; rating outperform
Telus Corp	TD Securities cuts to reduce from hold
Tuscany International	Raymond James cuts price target to C$0.80 from C$0.95 .
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