Upgrades, Downgrades and Target Changes - Nov 15 2012

Company	Rating/Target Change
AG Growth International	National Bank Financial ups target to C$32.50 from C$31
Alacer Gold	BMO cuts target price to C$7 from C$8; rating market perform
Arcan Resources	RBC cuts target to C$1.50 from C$1.75; rating sector perform
Bank of Montreal	KBW cuts target price to C$60 from C$62
Bank of Nova Scotia	KBW cuts target price to C$56 from C$57
Baytex Energy	CIBC raises target to C$51 from C$46; rating sector performer
Birchcliff Energy	Canaccord Genuity raises target price to C$6.50; rating sell
Birchcliff Energy	NBF raises target price to C$9.50 from C$9; rating outperform
Boardwalk REIT	Canaccord Genuity raises target price to C$66; rating hold
Boyd Group Income	NBF raises target to C$19 from C$17.50; rating outperform
Brookfield Real Estate	CIBC cuts price target to C$13.50 from C$13.75
Capstone Infrastructure	RBC raises to outperform from sector perform
Cequence Energy	Macquarie raises price target to C$2 from C$1.40; rating neutral
Chartwell Seniors Housing	RBC raises price target to C$11 from C$10.75
Chorus Aviation	RBC raises price target to C$5 from C$4.50; rating outperform
CIBC	KBW cuts target price to C$79 from C$81
Claude Resources	NBF cuts target price to C$1.25 from C$1.40; rating outperform
Denison Mines	Raymond James cuts target price to C$1.60 from C$1.70
DHX Media Ltd	Canaccord Genuity raises target to C$2.35 from C$2.15; rating buy
Glacier Media	RBC cuts target price to C$2.25 from C$2.50; rating outperform
Just Energy	CIBC cuts price target to C$9.50 from C$11; rating sector performer
Kimber Resources	Salman Partners starts with speculative buy; target of C$1.25
Loblaw Companies	Barclays raises target to C$35 from C$33; rating equal weight
Loblaw Companies	CIBC cuts price target to C$36 from C$38; rating sector performer
Loblaw Companies	NBF raises target price to C$38 from C$37; rating outperform
Loblaw Companies	RBC cuts price target to C$39 from C$40; rating outperform
Metro Inc	Barclays raises target price to C$56 from C$55; rating equal weight
Metro Inc	CIBC raises target price to C$64 from C$60; rating sector performer
Metro Inc	NBF raises price target to C$65 from C$64; rating outperform
Metro Inc	RBC raises price target to C$65 from C$63; rating outperform
Morneau Shepell	CIBC raises target to C$14 from C$13; rating sector performer
NovaCopper	RBC raises price target to C$4.75 from C$4.50; rating outperform
Poseidon Concepts	Canaccord Genuity cuts target price to C$14 from C$20.50
Power Financial	RBC raises price target to C$27 from C$25; rating sector perform
RBC	KBW cuts target price to C$57 from C$58
Sprott Inc	Canaccord Genuity cuts target price to C$4.75 from C$5; rating hold
Sprott Inc	CIBC cuts price target to C$4.25 from C$4.50; rating sector performer
Sterling Resources	CIBC cuts price target to C$1.50 from C$1.90
TD Bank	KBW cuts target price to C$82 from C$83
Vermilion Energy	Barclays cuts target price to C$53 from C$54; rating overweight
Vermilion Energy	Macquarie raises price target by C$3 to C$58; rating outperform
Vermilion Energy	RBC raises target to C$52 from C$51; rating sector perform
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