Stocks that should be on your radar screen By Angela Barnes
Oppenheimer & Co. analyst Meredith Whitney has cut her 2008 share profit estimates for Goldman Sachs Group Inc. by 18 per cent, inclusive of a 33-per-cent reduction of her first-quarter estimate. Downside: Ms. Whitney downgraded Goldman Sachs to "perform" from "outperform" based on what she believes will be a year of "suffering from its own success." Dorel Industries Inc.'s purchase of Cannondale Bicycle Corp., announced on Monday, will strengthen Dorel's position as a diversified consumer products company with solid brand names, said Jessy Hayem, an analyst at Desjardins Securities. Upside: Ms. Hayem raised her target for Dorel to $36 a share from $35, but maintained her "hold" recommendation. UBS Securities has revised its forecast for uranium prices to roughly $88 (U.S.) a pound from $95 for 2008, to $100 from $150 for 2009 and to $110 from $50 for 2010. Downside: UBS Securities Canada analyst Brian MacArthur has reduced his 12-month target for Cameco Corp. to $49 (Canadian) from $53 and to $10.50 from $12.50 for Uranium One Inc. He reiterated his "buy" recommendation on both. Toromont Industries Ltd.'s fourth-quarter profit of 61 cents a share surpassed both consensus of 53 cents, and TD Newcrest analyst Bill MacKenzie's estimate of 54 cents. Upside: Mr. MacKenzie raised his target on shares of the industrial products firm to $35 a share from $31. He has a "buy" on the stock. Analyst Trevor Johnson of Blackmont Capital said photovoltaic power, which generates electricity from the sun, has been this century's fastest growing source of renewable energy in terms of output. He added that Canada has a low photovoltaic penetration level relative to other industrialized nations. Upside: He initiated coverage of Day4 Energy Inc., which designs and produces photovoltaic modules, with a "speculative buy" rating and an $8 price target.
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