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Shoppers at the Dollarama store on Spadina Avenue in Toronto on June 13, 2012. (Deborah Baic/The Globe and Mail)
Shoppers at the Dollarama store on Spadina Avenue in Toronto on June 13, 2012. (Deborah Baic/The Globe and Mail)

Eye on Equities

Dollarama keeps on winning Add to ...

Versant Partners analyst Neil Linsdell raised his target on Dollarama Inc., the discount retailer, after it reported a better-than-expected first-quarter profit. Dollarama will start selling goods in August with a price tag as high as $3. Items costing more than $1 grew to 51 per cent of sales in the quarter.

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Upside: Mr. Linsdell hiked his one-year target to $60 a share from $50, but maintains a “neutral” rating.

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Dundee REIT’s purchase of a two-thirds stake in Scotia Plaza is a step forward in its campaign to become a major player in the downtown Toronto office leasing market, said TD Securities analyst Derrick Lau. “It adds a premier quality asset with highly stable cash flows and growth potential.”

Upside: Mr. Lau raised his one-year target to $42 a share from $41, and maintained his “buy” rating.

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MBAC Fertilizer Corp. is poised to become a prominent Brazilian fertilizer company with production expected to start in the fourth quarter at its Itafos project, said Raymond James analyst Steve Hansen. It has a “compelling project pipeline,” while fertilizer demand in northern Brazil remains healthy, he added.

Upside: The analyst maintains an “outperform” rating, and a six- to 12-month target of $4.50 a share.

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M Partners analyst John Safrance cut his target on 5N Plus Inc., a specialty metals producer, to reflect dilution from a recent $40-million financing. A move by solar cell maker First Solar Inc. to delay closing its German plant could help the supplier’s third-quarter results, he added.

Downside: Mr. Safrance reduced his one-year target to $5.75 a share from $6.25, but maintains a “buy” rating.

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BMO Nesbitt Burns analyst Gordon Tait slashed his target on Enerplus Corp., a oil and gas producer, after it announced plans to cut its monthly dividend in half to 9 cents a share starting next month. Weak commodity prices have hampered Enerplus’s plans to sell non-core assets to fund the payouts.

Downside: Mr. Tait reduced his one-year target to $15.50 a share from $22, but maintains a “market perform” rating.

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