Upgrades, Downgrades and Target Changes - Jun 20 2013

Company	Rating/Target Change
AGF Management	Canaccord Genuity cuts target to C$11.25 from C$11.50; hold
Atrium Innovations	National Bank Financial raises target to C$18 from C$15.50
Cascades Inc	National Bank Financial raises target price to $6.25 from C$5.25
Colossus Minerals	Canaccord Genuity cuts target price to C$6.25 from C$7.50
Genivar Inc	Canaccord Genuity cuts to sell from hold
IBI Group Inc	Canaccord Genuity cuts price target to C$2.25 from C$3
Industrial Alliance Insurance	BMO raises target price to C$45 from C$39
KP Tissue	TD Securities cuts target price to C$21 from C$22; rating buy
Manulife Financial	BMO raises to outperform
Nuvista Energy	BMO raises target price to C$9 from C$8; rating outperform
Orezone Gold Corp	Canaccord Genuity cuts target price to C$1.25 from C$2.25
Royal Nickel Corp	Haywood cuts target price by C$0.25 to C$0.75; rating buy
Trinidad Drilling	Haywood raises target price by C$0.50 to C$8.50; rating buy
Trinidad Drilling	Paradigm Capital raises target to C$10 from C$9.50; rating buy
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