Upgrades, Downgrades and Target Changes - Feb 3 2014

Company	Rating/Target Change
Badger Daylighting	Canaccord raises target to C$34.50 from C$30; rating buy
Black Diamond	Scotia ups taget to $32 from $30
Calfrac Well Services	Scotia lowers taget to $37 from $40
Canadian Natural Resources	Scotia ups target to $47 from $42
Canadian Oil Sands	Scotia lowers target to $23 from $24
Cameco Corp	Canaccord Genuity cuts to sell from hold
Cameco Corp	TD lowers target to $29 from $31
Cascades	NBF raises price target to C$8 from C$7.50; rating outperform
Cathedral Energy Services	Scotia lowers target to $6 from $7
Cenovus Energy	Scotia lowers target to $38 from $40
CGI Group	Jefferies cuts price target to C$40 from C$41; rating hold
CI Financial	CIBC ups target to C$39 from C$36; rating sector performer
DeeThree Exploration	NBF starts with outperform; price target C$11.50
Encana	Scotia lowers target to US$22 from US$23
Ensign Energy Services	Scotia lowers target to $18 from $20
Equitable Group(EQB)	Scotia lowers target to $54 from $53
First Naional Financial (FN)	Scotia ups target to $26 from $24
Home Capital (HCG)	Scotia ups target to $83 from $80
Husky Energy	Scotia ups target to $38 from $35
IGM Financial	CIBC ups target to C$62 from C$55; rating sector performer
Imperial Oil (IMO)	Scotia ups target to $52 from $46
Manitoba Tel	TD lowers target to $32 from $33
Manulife	Scotia ups target to $23 from $22
New Mont Ming Corp	TD lowers Target to US$24 from US$28
Suncor	Scotia ups target to $48 from $47
TMX Group	NBF raises price target to C$49 from C$48; rating underperform
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