Upgrades, Downgrades and Target Changes - Aug 31 2012

Company	Rating/Target Change
Black Diamond Group Ltd	Raymond James raises to strong buy from outperform
Canadian Western Bank	CIBC ups target to C$30 from C$29; rating sector performer
Canadian Western Bank	Canaccord Genuity raises target to C$32.75 from C$32
Canadian Western Bank	BMO cuts price target to C$32.50 from C$33.50
CIBC	BMO raises target price to C$84 from C$76.50
CIBC	TD Securities cuts to hold from buy; cuts price target to C$88 from C$90
CIBC	Barclays raises price target to C$77 from C$76; rating equal weight
CIBC	Canaccord Genuity raises price target to C$85 from C$84; rating hold
CIBC	National Bank Financial raises price target to C$82 from C$80
COM DEV International	Canaccord Genuity raises price target to C$3.50 from C$3
Cominar REIT	NBF adds to action list; rating outperform
Greenfields Petroleum	Raymond James raises target price to C$5 from C$3.50
Crescent Point Energy	BMO raises price target to C$50 from C$48
Labrador Iron Mines	Raymond James starts with market perform; target of C$3.25
Leisureworld Senior Care	BMO starts with market perform rating
RBC	Barclays raises price target to C$53 from C$52; rating underweight
RBC	CIBC raises price target to C$58 from C$56; rating sector performer
RBC	Canaccord Genuity raises price target to C$62 from C$61; rating buy
RBC	NBF raises price target to C$62 from C$60; rating sector perform
RBC	TD Securities raises price target to C$61 from C$60; rating hold
Reitmans Canada	CIBC cuts target to C$13.50 from C$15; rating sector performer
Seabridge Gold Inc	Stonecap starts with sector perform; price target C$19.15
TD Bank	NBF raises price target to C$94 from C$93; rating outperform
TD Bank	Canaccord Genuity raises price target to C$94 from C$93; rating buy
TD Bank	RBC cuts price target by C$1 to C$97; rating outperform
Tourmaline Oil	NBF starts with outperform; price target C$33.50
Tourmaline Oil	RBC starts with outperform rating
Tourmaline Oil	CIBC ups target to C$35 from C$33; rating sector outperformer
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Upgrades, Downgrades and Target Changes - Aug 30 2012

Company	Rating/Target Change
Alimentation Couche Tard	NBF ups target to C$55 from C$54; rating outperform
Avigilon Corp	NBF starts with outperform; price target of C$12
Banro Corp	CIBC cuts price target to C$7 from C$8; rating sector outperformer
Canadian Western Bank	TD Securities cuts price target to C$31 from C$32
Cenovus Energy	Barclays raises to overweight from equal weight
Cenovus Energy	Paradigm cuts to hold
Dollarama :	BMO starts with market perform
Energold Drilling	TD Securities cuts target price to C$5.50 from C$6; rating buy
Fairborne Energy	CIBC cuts price target to C$2 from C$2.25
Fairborne Energy	RBC cuts target price to C$2.50 from C$3; rating sector perform
Iona Energy Inc	TD Securities raises price target to C$1.20 from C$1.15
Innovative Composites	Canaccord cuts target to C$0.75 from C$1.25; speculative buy
Magnum Hunter Resources	Suntrust Robinson raises price target to $9 from $8.50
Manitok Energy	Raymond James raises target price to C$2.25 from C$1.75
Manitok Energy	National Bank Financial raises price target to C$2.75 from C$2.25
Nexen Inc	Barclays raises price target to C$27 from C$24
Pan Orient Energy Corp	Raymond James cuts price target to C$3.50 from C$4.25
Route1 Inc	Paradigm cuts target to C$0.15 from C$0.30; rating speculative buy
Russel Metals Inc	TD Securities cuts price target to C$25 from C$26; rating hold
Teranga	SocGen starts with hold; price target of C$2.21
Western Energy Services Corp	Raymond James cuts to outperform from strong buy
Westjet Airlines	Canaccord Genuity cuts target to C$26 from C$27; rating buy
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Upgrades, Downgrades and Target Changes - Aug 29 2012

Company	Rating/Target Change
Aurcana Corp	Stonecap raises target to C$1.50 from C$1.20; outperform rating
Bank of Montreal	CIBC raises target to C$60 from C$59
Bank of Nova Scotia	RBC raises price target to C$61 from C$60; rating outperform
LNG Energy	Paradigm cuts target to C$0.20 from C$0.50; rating speculative buy
Luna Gold Corp	National Bank Financial starts with outperform; target of C$3.20
Orezone Gold Corp	CIBC cuts target to C$4 from C$5; rating sector outperformer
Royal Host Inc	CIBC cuts target to C$1 from C$1.25; rating sector underperformer
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Upgrades, Downgrades and Target Changes - Aug 28 2012

Company	Rating/Target Change
ArPetrol Ltd	Raymond James cuts target price to C$0.06 from C$0.08
Aveda Transportation and Energy Services	Stonecap starts with outperform
Bank of Montreal	Stifel starts with hold rating
Bank of Nova Scotia	Stifel starts with hold rating
Cameco Corp	Canaccord Genuity cuts target price to C$29 from C$31; rating buy
CIBC	Stifel starts with hold rating
Davis + Henderson Corp	CIBC ups target to C$23 from C$21; rating sector performer
Gran Colombia Gold Corp	RBC cuts price target to C$0.65 from C$1
Legumex Walker Inc	LB Securities raises target price to C$13 from C$12.50
Mega Brands	BMO raises to outperform from market perform rating
Orezone Gold	Canaccord Genuity raises target price to C$4.25 from C$4
Orezone Gold	National Bank Financial cuts price target to C$2.75 from C$4.60
Orezone Gold	Desjardins cuts price target to C$3.75 from C$4.75; rating buy
Petromanas Energy Inc	Raymond James raises to outperform from market perform
TD Bank	Stifel starts with hold rating
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Upgrades, Downgrades and Target Changes - Aug 27 2012

Company	Rating/Target Change
ARC Resources	Raymond James Raises target price to C$23 from C$21.50
Coastal Energy	CIBC ups target to C$22.50 from C$21.50;rating sector outperformer
Detour Gold	NBF cuts price target to C$42 from C$48; rating outperform
Detour Gold	CIBC cuts price target to C$42 from C$45; rating sector outperformer
Evertz Technologies	BMO starts with outperform; price target C$16
Keegan Resources	Dundee raises target price to C$5.50 from C$4
Marquee Energy Ltd	Acumen Capital cuts price target to C$2; rating buy
Morguard Corp	RBC raises price target to C$120 from C$110; rating outperform
Rio Novo Gold Inc	Canaccord Genuity cuts price target to C$0.25 from C$0.90
RMP Energy Inc	NBF resumes coverage with outperform; price target C$3
Sabina Gold & Silver	BMO raises price target to C$5.50 from C$4.25
Score Media Inc	Stonecap revises recommendation to tender from sector perform
Yamana Gold	CIBC resumes coverage with sector performer rating; price target $23
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Upgrades, Downgrades and Target Changes - Aug 23 2012

Company	Rating/Target Change
Alamos Gold Inc	RBC starts with outperform; price target C$23
ARC Resources	CIBC ups price target to C$24 from C$23.50;rating sector performer
Cominar REIT	Dundee raises price target to $C$26.50 from $26; rating buy
First Bauxite Corp	LB Securities starts with buy; price target C$0.90
First Majestic Silver	Dundee raises target to C$20.40 from C$19.70;rating buy
Great Panther Silver	Stonecap raises price target to C$2 from C$1.80
Horizonte Minerals	Paradigm Capital cuts target price to C$0.40 from C$0.55
Mawson West Ltd	Paradigm Capital cuts price target to C$2 from C$2.75
Prodigy Gold Inc	Haywood Research raises price target by C$0.10 to C$1.10
Sterling Resources	CIBC cuts price target to C$1.75 from C$2
TriOil Resources	Canaccord Genuity raises target to C$6.25 from C$5.75;rating buy
Yoho Resources Inc	Acumen Capital cuts price target to C$3 from C$3.50; rating buy
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Upgrades, Downgrades and Target Changes - Aug 22 2012

Company	Rating/Target Change
CGI Group Inc	CIBC resumes coverage with sector outperformer; price target C$30
Cominar REIT	TD Securities raises price target to C$28 from C$27; rating buy
EXFO Inc	CIBC starts with sector underperformer rating and sets price target of $4
Inmet Mining	RBC raises price target to C$70 from C$65; rating outperform
LGX Oil + Gas	Haywood raises target by C$0.15 to C$1.15; rating sector perform
Minco Silver	Raymond James cuts target to C$2.50 from C$3; rating market perform
Painted Pony Petroleum	CIBC raises price target to C$12.50 from C$12
Parex Resources	Stonecap starts with outperform; price target C$7.50
Pure Industrial REIT	Canaccord Genuity raises target to C$5.75 from C$5.25
SuroCo Energy	Raymond James raises target to C$0.70 from C$0.60;rating outperform
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Upgrades, Downgrades and Target Changes - Aug 21 2012

Company	Rating/Target Change
Bank Of Montreal	Macquarie raises price target to C$62 from C$61; rating neutral
Bank Of Nova Scotia	Macquarie cuts target to C$57 from C$57.50;rating outperform
Canadian Western Bank	Macquarie cuts target to C$29 from C$30; rating outperform
CIBC	Macquarie raises price target to C$82 from C$81; rating neutral
DHX Media Ltd	TD Securities raises target to C$1.50 from C$1.30; rating hold
Encana Corp	SocGen cuts to sell from hold
Enerplus	CIBC ups target to C$15 from C$14.50; rating sector underperformer
Enerplus	Raymond James raises to outperform from market perform
Enerplus	TD Securities raises price target to C$19.50 from C$17.50; rating buy
Enerplus	Macquarie raises price target by C$1 to C$16; rating neutral
Enerplus	Barclays raises price target to C$16 from C$15; rating equal weight
Essential Energy Services Ltd	Raymond James cuts price target to C$2.70 from C$3
Franco-Nevada	RBC cuts to sector perform from outperform
Franco-Nevada	CIBC ups price target to C$58 from C$55;rating sector outperformer
Franco-Nevada	TD Securities raises price target to C$58 from C$57; rating buy
Laurentian Bank Of Canada	Macquarie cuts to neutral from outperform
National Bank Of Canada	Macquarie RAISES target to C$82 from C$81; rating neutral
Perpetual Energy Inc	RBC raises target to C$1 from C$0.85; rating underperform
Pershimco Resources	NBF starts with sectorperform; price target C$1
Petroamerica Oil Corp	Raymond James raises price target to C$0.30 from C$0.25
Petrolia Inc	LB Securities starts with buy; target price C$2
Pure Energy Services	Canaccord Genuity cuts to hold from buy
Raging River Exploration	Canaccord ups target to C$2.70 from C$2.60; rating buy
Raging River Exploration	TD Securities raises price target to C$2.50 from C$2.25
Raging River Exploration	Dundee raises price target to C$2.90 from C$2.65
RBC	Macquarie cuts price target to C$57 from C$58; rating neutral
TD Bank	Macquarie raises price target to C$90.50 from C$90; rating outperform
Tuscany International Drilling	Raymond James ups to outperform
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Upgrades, Downgrades and Target Changes - Aug 20 2012

Company	Rating/Target Change
Arcan Resources	TD Securities cuts price target to C$2.25 from C$2.50; rating buy
BCE Inc	TD Securities raises price target to C$40 from C$39; rating reduce
Conifex Timber	TD Securities cuts price target to C$9.50 from C$10; rating buy
Copper Mountain	BMO cuts price target to C$4.50 from C$5; rating market perform
Hyperion Exploration Corp	Canaccord Genuity cuts target price to C$1 from C$1.35
Orvana Minerals Corp	Stonecap cuts to sector perform from outperform ;Stonecap cuts target price to C$1.30 from C$2.10
Rogers Communications	TD Securities raises price target to C$44 from C$43
Secure Energy Services	Paradigm Capital resumes coverage with buy; target C$11
TAG Oil	Mackie Research cuts price target to C$10.75 from C$11.25; rating buy
TELUS Corp	TD Securities raises price target to C$60 from C$58; rating reduce
Tuscany International	Raymond James cuts to market perform from outperform ;Raymond James cuts price target to C$0.45 from C$0.80
Western Potash	Raymond James cuts price target to C$0.75 from C$1.25
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Upgrades, Downgrades and Target Changes - Aug 17 2012

Company	Rating/Target Change
Alderon Iron Ore	NBF cuts price target to C$4.75 from C$5; rating outperform
Alderon Iron Ore	Raymond James raises to outperform from market perform
Allied Properties REIT	CIBC raises price target to C$33 from C$30
Allied Properties REIT	Dundee raises price target to C$33.25 from C$31.50
Atacama Pacific Gold	Stonecap starts with outperform rating; target of C$7.35
BTB REIT	NBF raises price target to C$4.95 from C$4.75; rating sector perform
CGI Group Inc	RBC raises price target to C$30 from C$28; rating outperform
Endeavour Silver	Dundee starts with buy rating
Etrion	Paradigm Capital cuts price target to C$0.75 from C$0.85; rating buy
Gibson Energy Inc	UBS starts with buy; price target C$27
Glacier Media Inc	BMO cuts price target to C$2.50 from C$3; rating outperform
Great Basin Gold	Raymond James cuts to underperform from mrketperform
Hudbay Minerals	BMO cuts price target to C$12.50 from C$13; rating outperform
Karnalyte Resources	BMO cuts price target to C$11 from C$14; rating outperform
Laurentian Bank of Canada	NBF cuts price target to C$57 from C$58
Macarthur Minerals Ltd	TD Securities cuts price target to C$1 from C$1.75
Magna International Inc	SocGen raises price target to $46 from $45; rating hold
Northern Property REIT	Dundee raises price target to C$36 from C$35.25
Peregrine Diamonds	Desjardins cuts price target to C$1 from C$1.70; rating buy
Pershimco Resources	Stonecap starts with outperform rating; target price of C1.20
Progressive Waste Solutions	CIBC starts with a sector performer rating
Taseko Mines Ltd	Paradigm Capital cuts target to C$5 from C$5.75; rating buy
Turquoise Hill Resources Ltd	TD Securities cuts target to C$10.50 from C$11
Westernzagros Resources	Raymond James raises price target to C$1.20 from C$1.10
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Upgrades, Downgrades and Target Changes - Aug 15 2012

Company	Rating/Target Change
Aecon Group	TD Securities cuts price target to C$15.50 from C$16.50; rating buy
ATS Automation Tooling Systems	Canaccord Genuity ups target to C$10 from C$8.75
Agrium Inc	Barclays starts with overweight
Alderon Iron Ore	Desjardins cuts target price to C$3.50 from C$3.75; rating hold
Ainsworth Lumber Co Ltd	RBC raises target price to C$2.50 from C$1.60
Alacer Gold Corp	Raymond James cuts price target to C$7.50 from C$8
Alimentation Couche Tard	NBF raises price target to C$54 from C$50
Aston Hill Financial Inc	Canaccord Genuity cuts price target to C$1.75 from C$2
Baytex Energy	NBF raises price target to C$54 from C$49
Birchcliff Energy	NBF raises price target to C$8.50 from C$7
Birchcliff Energy	Canaccord Genuity raises price target to C$5 from C$4.50
Birchcliff Energy	RBC raises target to C$7 from C$6; rating sector perform
Boardwalk REIT	Canaccord Genuity raises price target to C$65.40 from C$62.15
Boardwalk REIT	TD Securities ups price target to c466 from c$61; rating hold
Bonterra Energy Corp	CIBC cuts target to C$47 from C$49;rating sector performer
Chorus Aviation Inc	Canaccord Genuity cuts price target to C$4.75 from C$5.50
Copper Mountain Mining	Raymond James cuts target price to C$5.60 from C$6
Copper Mountain Mining	Paradigm Capital cuts price target to C$6.25 from C$7.25
DeeThree Exploration Ltd	Raymond James raises price target to C$6.25 from C$5
Directcash Payments	Acumen Capital raises price target to C$28.60 from C$28.30
Easyhome	BMO cuts price target to C$7.50 from C$8; rating market perform
EcoSynthetix Inc	CIBC cuts target to C$6 from C$7.50; rating sector outperformer
Entrec Corp	Stonecap raises target price to C$2.25 from C$2; rating outperform
Entrec Corp	Raymond James raises target to C$2.25 from C$2; rating outperform
Exchange Income Corp	Canaccord Genuity ups price target to C$29 from C$27.50
Exchange Income Corp	PI Financial ups price target to C$30 from C$29; rating buy
Exchange Income Corp	Raymond James raises price target to C$31.50 from C$30
First Majestic Silver	Dundee raises price target to C$19.70 from C$18; rating buy
H&R REIT	BMO raises price target to C$26 from C$25; rating market perform
Iamgold Corp	Macquarie ups target to C$14.50 from C$14; rating outperform
Iroc Energy Services Corp	Stonecap cuts price target to c$3.25 from c$3.50
Key REIT	CIBC ups target to C$5.75 from C$5; rating sector underperformer
Lone Pine Resources Inc	Raymond James cuts target price to C$2.50 from C$6
Magellan Aerospace	TD Securities raises target to C$5 from C$4.25; rating hold
Medical Facilities	NBF raises price target to C$14 from C$13
Medical Facilities	Canaccord raises price target to C$14.50 from C$14
Medical Facilities	TD Securities raises target to C$13.50 from C$11.50
Norbord Inc	RBC raises price target to C$20 from C$17; rating outperform
Paladin Energy	Raymond James ups target to C$2.20 from C$1.80; rating outperform
Parallel Energy Trust	RBC cuts target to C$6.50 from C$7;rating sector perform
Peyto Exploration & Development	NBF resumes coverage with outperform;target C$25
Peyto Exploration & Development	Dundee ups target to C$30 from C$28; rating buy
Research In Motion	Evercore starts with equal weight; price target $8
Secure Energy Services	TD Securities ups target to C$10.50 from C$10; rating buy
Secure Energy Services	Raymond James raises target to C$10.50 from C$9.50
TMX Group Inc	TD Securities raises price target to C$51 from C$40; rating hold
Thompson Creek Metals Co	RBC cuts price target to C$3.60 from C$3.85
Thompson Creek Metals Co	Dundee cuts target price to C$2 from C$2.75 ;Dundee cuts to sell from neutral
Tim Hortons Inc	CIBC cuts price target to C$57 from C$62;rating sector performer
Tricon Capital	Canaccord Genuity raises price target to C$6.20; rating buy
Twin Butte Energy	NBF raises price target to C$3.25 from C$3; rating outperform
Twin Butte Energy	Raymond James raises target price to C$3.25 from C$3
Westernzagros Resources Ltd	HSBC starts with overweight rating; target of C$1.95
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Upgrades, Downgrades and Target Changes - Aug 14 2012

Company	Rating/Target Change
Absolute Software	PI Financial cuts target price to C$7 from C$7.50; rating buy
ACE Aviation Holdings	TD Securities raises price target to C$4.50 from C$4.25
Algonquin Power & Utilities Corp	CIBC raises price target to C$7.25 from C$7
AuRico Gold Inc	CIBC cuts price target to C$10 from C$14.50
AuRico Gold Inc	TD Securities cuts price target to C$7 from C$7.50; rating hold
AuRico Gold Inc	Desjardins cuts price target to C$10.50 from C$12; rating buy
AuRico Gold Inc	Canaccord Genuity cuts price target to $7.50 from $8; rating hold
Badger Daylighting	Canaccord ups price target toC$29.50 from C$28.50; rating buy
Bankers Petroleum	NBF raises target price toC$5 from C$4.75; rating outperform
Bankers Petroleum	Raymond James raises price target to C$3.50 from C$3.30
Bankers Petroleum	TD Securities raises price target to C$4.75 from C$4.50
C&C Energia Ltd	CIBC cuts price target to C$8.75 from C$10
Canexus Corp	Acumen Capital cuts price target to C$8.80 from C$9; rating buy
Capstone Infrastructure	National Bank Financial ups target to C$4.50 from C$4
Cash Store Financial	Canaccord cuts price target to C$7 from C$7.25; rating hold
Chartwell Seniors Housing	BMO raises target price to C$10.50 from C$10
Chorus Aviation	NBF ups target toC$3.50 from C$3.05; rating sector perform
Claude Resources	Dundee cuts price target to C$1.20 from C$1.60; rating buy
Claude Resources	NBF cuts price target to C$1.70 from C$1.80; rating outperform
Claude Resources	CIBC cuts price target to C$0.80 from C$1.50
Claude Resources	Desjardins cuts price target to C$1.30 from C$1.60
CML HealthCare	RBC cuts price target to C$9.50 from C$11; rating sector perform
Crew Energy Inc	Canaccord Genuity cuts price target to C$12 from C$13; rating buy
Crew Energy Inc	Dundee raises price target to C$9.50 from C$9; rating buy
CVTech Group Inc	Stonecap cuts to sector perform from outperform
Endeavour Mining Corp	Raymond James Cuts target price to C$3.80 from C$4.30
Ensign Energy Services	TD Securities raises price target to C$17.50 from C$16
Ensign Energy Services	Canaccord Genuity cuts target to C$16.50 from C$18
Entrec Corp	Paradigm Capital raises price target to C$3 from C$2.25; rating buy
Extendicare Inc	CIBC cuts target to C$8 from C$8.50; rating sector performer
Firm Capital Mortgage	BMO ups target to C$13.50 from C$13; rating market perform
Global Water Resources Corp	CIBC cuts price target to C$4.50 from C$5.50
Great Panther Silver Ltd	Stonecap cuts price target to C$1.80 from C$2.10
HOMEQ Corp	RBC raises price target to C$9.50 from C$9; rating outperform
Iamgold	Credit Suisse cuts target to $12.50 from $13; rating neutral
Iamgold	Stifel cuts price target to $16 from $17; rating buy
Lone Pine Resources Inc	TD Securities cuts price target to C$5 from C$6.50
Lone Pine Resources Inc	RBC cuts price target to C$4 from C$5; rating sector perform
MBAC Fertilizer	NBF cuts target price to C$5 from C$5.25; rating outperform
MCAN Mortgage Corp	BMO cuts target price to C$13.50 from C$14.25
Mercator Minerals Ltd	TD Securities cuts to hold from buy
Metro Inc	CIBC raises price target to C$60 from C$57; rating sector performer
New Flyer Industries	Canaccord Genuity cuts to hold from buy
Parallel Energy Trust	National Bank Financial cuts target to C$5.75 from C$6.50
Pembina Pipeline Corp	CIBC raises target price to C$29 from C$27.75
Petrobank Energy and Resources	TD Securities raises target to C$18 from C$17
RioCan REIT	CIBC raises target to C$31 from C$30; rating sector outperformer
Renegade Petroleum	TD Securities cuts price target to C$4.25 from C$4.50
Renegade Petroleum	Raymond James cuts price target to C$4 from C$4.25
Renegade Petroleum	Dundee cuts target price to C$4.25 from C$4.50; rating buy
Renegade Petroleum	Fraser Mackenzie cuts target price to C$5 from C$5.50
Rocky Mountain Dealerships Inc	TD Securities cuts to hold from buy
Rocky Mountain Dealerships Inc	Laurentian Bank cuts target to C$13.50 from C$14
Rocky Mountain Dealerships Inc	PI Financial cuts target to C$13.50 from C$14.25
Rocky Mountain Dealerships Inc	LB Securities cuts target price to C$13.50 from C$14
Rocky Mountain Dealerships Inc	Raymond James Raises target price to C$13 from C$11
SouthGobi Resources Ltd	CIBC cuts price target to C$6.50 from C$11
St Andrew Goldfields Ltd	NBF cuts target price to C$0.80 from C$0.95
St Andrew Goldfields Ltd	Stonecap raises to outperform from sector perform
TMX Group	National Bank Financial resumes coverage with outperform rating
Thompson Creek Metals	TD Securities cuts to hold from buy
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