Upgrades, Downgrades and Target Changes - Jul 23 2012

Company	Rating/Target Change
Agrium	Citigroup raises target price to $100 from $95, rating neutral
FirstService	CIBC cuts target to C$34.50 from C$37, ratingsector outperformer
IGM Financial	Canaccord Genuity cuts price target to C$43 from C$44, rating hold
Karnalyte Resources Inc	Mackie Research raises target price to C$7 from C$6.50
Loblaw Companies	Barclays cuts price target to C$33 from C$35, rating equal weight
MDA	BMO raises price target to C$65 from C$60; rating outperform
Opmedic Group	National Bank Financial starts with outperform
Orvana Minerals Corp	Stonecap raises price target to C$2.10 from C$2
West Fraser Timber	CIBC raises target to C$65 from C$56; sector outperformer
West Fraser Timber	TD Securities cuts to hold from buy
West Fraser Timber	BMO raises price target to C$60 from C$55; rating outperform
Westjet Airlines Ltd	Dahlman Rose raise to buy from hold
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