Upgrades, Downgrades and Target Changes - Oct 11 2012

Company	Rating/Target Change
Air Canada	CIBC raises target price to C$3 from C$1.50
Arcan Resources	CIBC cuts to sector performer rating
Armtec Infrastructure	BMO cuts target to C$3 from C$3.50; rating market perform
AuRico Gold	Desjardins Capital raises target to C$8.50 from C$7.50; rating hold
AuRico Gold	Dundee raises price target to C$8.30 from C$7; rating neutral
Bauer Performance Sports	CIBC raises target to C$12.50 from C$12
Belo Sun Mining Corp	Canaccord Genuity raises price target to C$2.50 from C$2.00
Baytex Energy Corp	Canaccord Genuity cuts price target to C$56 from C$57
Birchcliff Energy	Canaccord Genuity raises price target to C$5.50 from C$5
Bonavista Energy	Canaccord Genuity raises price target to C$20.50 from C$20
Canadian Pacific Railway	CIBC raises target price to C$83 from C$82
Cequence Energy	Canaccord Genuity raises price target to C$2.10 from C$1.95
Centerra Gold	UBS raises target price to C$17 from C$15.5; rating buy
Chorus Aviation	CIBC cuts target price to C$4 from C$4.50
DeeThree Exploration	Northland Capital raises target to C$8.50 from C$7.80
Gasfrac Energy Services	Haywood Securities cuts target to C$2.75 from C$3.50
GLV Inc	National Bank Financial raises to outperform from sector perform
Great Panther Silver	Stonecap cuts target price to C$2.35; rating sector perform
Industrial Alliance	TD Securities raises target to C$28 from C$26; rating hold
Ithaca Energy	CIBC cuts to sector performer rating
Jean Coutu Group	CIBC raises target price to C$16 from C$15
Jean Coutu Group	Desjardins Capital raises to buy from hold; target to C$16 from C$15
Keegan Resources	Canaccord Genuity raises target price to C$7 from C$5.50
LGX Oil + Gas Inc	Raymond James starts with outperform rating
Manulife Financial	TD Securities raises target to C$15 from C$14; rating buy
Meg Energy Corp	Canaccord Genuity cuts price target to C$55 from C$56
Petrobakken Energy	Canaccord Genuity raises price target to C$20 from C$19.50
Pinecrest Energy	Canaccord Genuity cuts target to C$4 from C$4.50; rating buy
Porto Energy	Raymond James cuts to underperform from market perform
Sun Life Financial	TD Securities raises target to C$28 from C$27; rating buy
TriOil Resources	Canaccord Genuity cuts target to C$5 from C$6.25; rating buy
TriOil Resources	Raymond James cuts target price to C$3.50 from C$3.75
Westjet Airlines	CIBC raises target price to C$22 from C$20.75
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