Upgrades, Downgrades and Target Changes - Mar 12 2014

Company	Rating/Target Change
Arsenal Energy	National Bank Financial raises target to C$6.50 from C$5.50
CanWel Building Materials	Canaccord Genuity raises target to C$3 from C$2.75
Continental Gold (CNL)	Scotia raises target to $5.30 from $4.00
Detour Gold Corp	CIBC raises target to C$12.50 from C$10.50;sector outperformer
DeeThree Exploration	CIBC raises target to C$12 from C$11.50; sector performer
Encana Corp	FirstEnergy Capital raises target to $23 from $22.50; outperform
Endeavour Silver	Raymond James raises target price to C$5.50 from C$4.50
ENTREC Corp	Canaccord Genuity cuts price target to C$2.20 from C$2.50; buy
Fortress Paper	RBC cuts price target to C$1.75 from C$3.50; rating underperform
Intellipharmaceutics	Mackie Research starts withs peculative buy; target of $11
Melcor Real Estate Investment	RBC raises price target to C$11.50 from C$11
Newalta Corp	Wunderlich raises target price to C$23 from C$20; rating buy
Quebecor Inc	National Bank Financial cuts price target to C$27.50 from C$30
Rocky Mountain Dealerships	Cantor cuts target price to C$12.50 from C$14.25
Secure Energy Services	Mackie Research starts with buy; target price of C$20
Sandstorm Gold Ltd	TD Securities raises price target to C$6.50 from C$4.25
Stella-Jones	Scotia raises target to $26 from $25
Transcontinental	National Bank Financial cuts target to C$15.50 from C$16.50
Transcontinental	RBC cuts target price to C$16 from C$17; rating outperform
Transcontinental	CIBC cuts target price to C$16 from C$17; sector performer
Transcontinental	Scotia cuts target price to C$17 from C$16
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