Upgrades, Downgrades and Target Changes - Aug 12 2014

Company	Rating/Target Change
Aimia Inc	RBC raises target price to C$20 from C$19; rating sector perform
Armtec Infrastructure Inc	Raymond James cuts target price to C$0.75 from C$2
Bank Of Montreal	CIBC raises price target to C$86 from C$81; sector perform
Bank Of Nova Scotia	CIBC raises target to C$80 from C$76; sector outperform
BSM Technologies Inc	Canaccord Genuity cuts target price to C$3 from C$3.30; buy
BSM Technologies Inc	Paradigm Capital cuts target price to C$3 from C$3.50; buy
Callidus Capital	CIBC starts with sector outperformer rating; target of C$23.50
Canadian Apartment	Canaccord raises target price to C$25 from C$23; rating buy
Canadian Apartment	Scotia raieses target to $24.25 from $23.75
Canadian Apartment	NBF raises target to C$26.50 from C$25.25; outperform
Canadian Apartment	CIBC ups target to C$25.50 from C$24.50;sector outperformer
Canadian Western Bank	CIBC raises price target to C$44 from C$40; sector perform
Cargojet Inc	NBF raises target price to C$25 from C$23; rating outperform
Cargojet Inc	Canaccord Genuity raises target price to C$25 from C$23; rating buy
Enerflex Ltd	CIBC raises target price to C$26 from C$23; rating sector performer
Ensign Energy SERvices	TD raises target to $19.5 from $18
Equitable Group	NBF raises target price to C$80 from C$79; rating outperform
Gibson Energy	CIBC raises target price by C$3 to C$35; rating sector performer
GLV Inc	RBC cuts target price to C$4 from C$5; rating outperform
InnVest REIT	Scotia ups target to $5.75 form $5.25
InnVest REIT	CIBC raises target price to C$5.50 from C$5.25; sector performer
Laurentian Bank Of Canada	CIBC raises target to C$55 from C$51; sector perform
Legacy Oil + Gas	TD cuts target to $12.5 from $13
National Bank Of Canada	CIBC ups target to C$51 from C$49; sector underperformer
Pembina Pipeline	CIBC raises price target to C$48 from C$47; sector outperformer
Pembina Pipeline	TD raises target to $52 from $49
Pembina Pipeline	RBC raises target price to C$51 from C$48; rating outperform
RBC	CIBC raises price target to C$85 from C$81; rating sector performer
Sherritt International	Desjardins starts with buy rating; target price of C$6
Spartan Energy	NBF starts with outperform rating; C$5 target price
Tamarack Valley	Canaccord Genuity raises target to C$7.50 from C$7; rating buy
Tamarack Valley	Paradigm Capital raises target price to C$8.50 from C$7.50; buy
TD Bank	CIBC raises price target to C$62 from C$58; rating sector outperformer
Spott Resource	TD raises target to $4 from $3.75
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