Brookfield Properties (BPO-TSX)
Yesterday's close $13.16, up 31 cents
Yesterday, National Bank Financial Inc. initiated coverage of Brookfield Properties Corp. with an "outperform" rating, and a price target of $16.
Upside: The stock is valued at significantly less than its U.S. peers and has $1.4-billion in liquidity which will allow management to take advantage of new opportunities in the real estate market as interest rates rise and distressed borrowers have to sell.
Suncor Energy Inc. (SU-TSX)
Yesterday's close $32.85, down $1.99
Suncor Energy Inc., Canada's biggest energy producer, posted quarterly results yesterday that fell significantly short of expectations.
Upside: Canaccord Adams Inc.'s Terry Peters say that despite the miss, the outlook for Suncor remains positive as it sheds assets after completing the acquisition last year of Petro-Canada. He kept his "buy" rating and price target of $43.
Rogers Communications Inc. (RCI.B-TSX)
Yesterday's close $33.43, down 13 cents
Jonathan Allen, of RBC Dominion Securities Inc., expects Rogers Communications, the country's No. 1 wireless operator, to boost its dividend by 10 per cent and renew its $1.5-billion share buyback plan when it reports fourth-quarter results Feb. 17.
Upside: Mr. Allen thinks Rogers has the greatest amount of flexibility in the sector for dividend growth and buybacks. He rates the stock "outperform" and has a $40 target.
Cisco Systems Inc. (CSCO-NASDAQ)
Yesterday's close $23.02 U.S., up 29 cents
The Street expects a 9-per-cent increase in Cisco Systems Inc.'s share profit when the network equipment maker posts its fiscal second-quarter results today.
Downside: Nikos Theodosopoulos, of UBS Securities LLC, says the shares may edge higher on strong results and "a favourable near-term outlook" as IT spending improves. But he is maintaining his "neutral" rating on the stock and $25 target because of the stock's relatively high valuation and intensifying competition in the industry.
Innergex Renewable Energy Inc. (INE-TSX)
Yesterday's close $7.38, up 58 cents
Quebec-based Innergex Renewable Energy Inc. plans to merge with its income-trust arm Innergex Power Income Fund, which it holds a 16-per-cent stake.
Upside: Michael Willemse, of CIBC World Markets Inc., maintained his buy rating and raised his target on Innergex Renewable to $8, up from $7, expecting "competitive" free cash flow yield from the merger as it commissions all capacity under development.