Upgrades, Downgrades and Target Changes - Aug 8 2013

Company	Rating/Target Change
Agrium Inc	National Bank Financial raises price target to $84 from $83
Air Canada	CIBC raises target price to C$4.75 from C$4; sector outperformer
Air Canada	TD raises target price to $5.5 from $4.0
Air Canada	RBC raises target price to C$4 from C$3
Arsenal Energy	National Bank Financial cuts price target to C$5.50 from C$9
Boralex Inc	TD raises price target to c$13 from c$12
Boralex Inc	RBC raises price target to c$12 from c$10; rating sector perform
BRP Inc	Desjardins starts with buy rating; target price C$32
Catamaran Corp	Jefferies raises price target to $70 from $65; rating buy
Canaccord Financial	TD raises price target to $8 from $7.5; rating hold
Dundee Industrial	Canaccord Genuity cuts target to C$10 from C$10.90; buy
Ensign Energy Services	TD ups target price to $19 from $17.5. Hold
Essential Energy	Raymond James raises target to C$3 from C$2.60; outperform
First Capital Realty	National Bank Financial starts with outperform
Labrador Iron Ore Royalty	RBC cuts target to C$34 from C$37; rating outperform
Liquor Stores Na Ltd	RBC cuts target to $17 from $19; rating sector perform
New Flyer Industries	Canaccord Genuity cuts to hold from buy
New Flyer Industries	CIBC raises target to C$12 from C$11.50; sector performer
NexJ Systems Inc	TD cuts target price to C$3.75 from C$4
NexJ Systems Inc	RBC cuts target price to C$3.75 from C$4; rating sector perform
Points International	RBC raises target price to $24 from $22; rating outperform
Russel Metals Inc	TD cuts target price to $25 from $27
Russel Metals Inc	RBC raises to sector perform from underperform
Sandstorm Gold	RBC cuts target price to C$7.50 from C$9.50; rating outperform
Semafo Inc	RBC cuts target price to C$2.80 from C$2.90; rating outperform
Strad Energy Services Ltd	aymond James raises target to C$4.10 from C$3.50
Sun Life Financial	CIBC raises target to C$35 from C$32; rating sector performer
Sun Life Financial	RBC raises target to C$31 from C$29; rating sector perform
Sun Life Financial	National Bank Financial raises target to C$35 from C$33
Tourmaline Oil	TD raises target price to $52 from $49; Buy
Trinidad Drilling	TD raises target price to $11.5 from $10.5; Buy
Valeant Pharma	Canaccord Genuity raises target to $115 from $110; rating buy
Valeant Pharma	JP Morgan resumes with overweight rating; target price $120
Valeant Pharma	Paradigm Capital raises target price to $120 from $115; rating buy
Valeant Pharma	BC raises price target to $105 from $100; rating outperform
Valeant Pharma	Susquehanna raises target price to $112 from $105; rating positive
Veresen Inc	Canaccord Genuity cuts target price to C$13.50 from C$14; rating buy
Veresen Inc	TD cuts target price to C$13.50 from C$14; rating buy
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