Upgrades, Downgrades and Target Changes - Aug 7 2012

Company	Rating/Target Change
AGF Management	National Bank Financial cuts price target to C$12 from C$13.50
Agrium Inc	Susquehanna raises price target to $140 from $130; rating positive
Agrium Inc	Canaccord Genuity raises target price to $113 from $106; rating buy
Ainsworth	RBC raises price target to C$1.60 from C$1.30; rating underperform
Ainsworth	BMO raises price target to C$1.50 from C$1
Algonquin Power & Utilities	Mackie Research raises target to C$7.50 from C$7.35
Bank Of Montreal	Barclays cuts to underweight from equal weight
Bank Of Nova Scotia	Barclays raises to equal weight from underweight
Canadian REIT	Canaccord Genuity raises target to C$46.5 from C$42; rating buy
Canadian REIT	CIBC raises target to C$43.50 from C$41.25;rating sectorperformer
CI Financial	National Bank Financial raises to sector perform from underperform
CIBC	Barclays cuts price target to C$76 from C$79
GMP Capital	CIBC cuts target to C$9 from C$13.50 ; rating sector outperformer
International Forest	CIBC ups target price to C$6.85 from C$6.50
Lydian International Ltd	RBC starts with outperform rating and C$3 price target
Mercer International Inc	TD Securities cuts price target to $6 from $7
National Bank Of Canada	Barclays raises price target to C$82 from C$79
Newalta Corp	BMO cuts price target to C$15.50 from C$17; rating outperform
Pengrowth Energy	CIBC raises target to C$8 from C$7; rating sector performer
Petrominerales Ltd	Raymond James cuts to underperform from market perform
Power Corp of Canada	NBF cuts target to C$27 from C$27.50; rating sector perform
Power Corp of Canada	CIBC cuts target to C$26 from C$27.50;rating sectorperformer
Power Corp of Canada	RBC cuts target to C$24 from C$26; rating sector perform
Power Financial	NBF cuts price target to C$29.50 from C$30; rating outperform
Power Financial	CIBC cuts target to C$28 from C$29.50; rating sector performer
Richmont Mines Inc	Desjardins cuts price target to C$4.50 from C$7; rating hold
Royal Bank Of Canada	Barclays cuts price target to C$52 from C$55
Silvercorp Metals	CIBC cuts target to C$6.75 from C$7.50; rating sector performer
Silvercorp Metals	Raymond James Cuts price target to $9.50 from $10.50
SNC Lavalin Group Inc	TD Securities cuts price target to C$46 from C$48
SNC Lavalin Group Inc	RBC cuts price target to C$42 from C$44
SNC Lavalin Group Inc	NBF cuts price target to C$42 from C$45; rating sector perform
SNC Lavalin Group Inc	CIBC cuts price target to C$45 from C$52 ; rating sector performer
Stantec	CIBC raises price target to C$36 from C$35 ; rating sector outperformer
Stantec	TD Securities raises price target to C$36 from C$35; rating hold
Stantec	Stonecap raises price target to C$35 from C$34
Stantec	Laurentian Bank raises target price by C$2.50 to C$33.50
Stantec	Raymond James raises to outperform from market perform
Superior Plus Corp	TD Securities raises price target to C$9.50 from C$9
Superior Plus Corp	CIBC raises target to C$8.75 from C$7.50; rating sector performer
TD Bank	Barclays raises price target to C$88 from C$87
Telus Corp	Macquarie raises price target to C$67 from C$62; rating outperform
Telus Corp	Canaccord Genuity raises price target to C$70 from C$66; rating buy
Telus Corp	CIBC raises price target to C$61 from C$60; rating sector performer
Telus Corp	BMO raises price target to C$68 from C$65; rating outperform
Telus Corp	RBC raises price target to C$66 from C$65; rating outperform
Westjet Airlines	Canaccord Genuity raises target to C$27 from C$25; rating buy
WiLan Inc	Northland Capital cuts target price to C$9 from C$10; rating sector
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