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Westport Innovations. (Westport Innovations/Westport Innovations)
Westport Innovations. (Westport Innovations/Westport Innovations)

EYE ON EQUITIES

Investor darling Westport Innovations may lose its lustre Add to ...

Westport Innovations Inc., a developer of natural gas engines, has been an investor darling. But National Bank Financial has a cautious assessment on Westport’s prospects, saying “losses are expected to continue for the foreseeable future.”

Downside: National Bank Financial rates the shares “underperform,” with an $18 (U.S.) price target on the stock.

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RBC Dominion Securities is initiating coverage on Silver Wheaton Corp. with an “outperform” rating. The company, which has low cost silver purchase agreements with miners, “is a unique precious metal investment vehicle as it provides direct leverage to silver without exposing investors to the operating and capital cost risks associated with its producing peers.”

Upside: RBC has set a $43 (U.S.) price target.

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Iamgold has discovered 13 million ounces of gold over the past decade at a cost of $35 (U.S.) an ounce. CIBC World Markets in a recent note called the exploration success “an encouraging reward for the efforts.” Iamgold is also considering the sale of its niobium business, which could offer a catalyst to a higher share price.

Upside: CIBC has a $21 target price on the stock.

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Fears that drought conditions in the U.S. Midwest will reduce corn yields have put a strong bid on prices of the crop, improving the prospects for Agrium Inc., in the view of Desjardins analyst John Hughes. Mr. Hughes says higher corn prices support the market for fertilizers, benefiting Agrium, which he considers “a less risky play” in the crop nutrient sector.

Upside: Desjardins rates Agrium a “buy,” with a price target of $106.30.

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Bank of Montreal is showing progress in integrating its M&I acquisition in the U.S. but Stonecap Securities says “the numbers simply do not reflect a big win for shareholders in our view.” The firm is also worried about continued stress in the U.S. banking business .

Downside: The firm has a target price of $52.

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