Laurentian Bank of Canada
Yesterday's close $38.93, down $1.57
Michael Goldberg, an analyst at Desjardins Securities, thinks that after several years of zero dividend growth, Laurentian Bank of Canada's profit and continued growth prospects have reached a level where the bank can again support dividend growth.
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Downside: He believes the shares are almost fully priced and so has maintained his "hold - above average risk" rating on them, but raised his price target to $42 a share from $40.
Yesterday's close $475.39 U.S., up $2.53
Analyst Mark Mahaney of Citigroup Global Markets said he believes that the deceleration seen by Google Inc. in clicks on its sponsored search links continued into the first quarter, but added that "extensive channel checks" suggest that the trends are not as bad as feared.
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Upside: Mr. Mahaney reiterated his "buy" recommendation on Google, but lowered his target price to $625 (U.S.) a share from $650.
Nortel Networks Corp.
Yesterday's close $9.08 U.S., down 86¢
UBS Securities LLC analyst Nikos Theodosopoulos said he continues to believe that Nortel Networks Corp. needs to increasingly focus on fewer areas where it can gain a competitive edge and meaningful scale. He said his preference is to see an increased focus on metro ethernet and enterprise, at the expense of 4G wireless, where he believes Nortel will struggle.
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Downside: He lowered his price target for Nortel to $11 (U.S.) a share from $15. He has a "neutral" rating on the shares.
Schnitzer Steel Industries Inc.
Yesterday's close $67.58 U.S., up 62¢
Analyst Eric Prouty of Canaccord Adams noted that ferrous scrap and non-ferrous metal prices have increased substantially since the beginning of the year, and he doesn't think the fundamental factors that drove the prices up are likely to reverse any time soon. He said that these dynamics are positive for Schnitzer Steel Industries Inc., which operates one of the largest metals recycling business in the U.S.
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Upside: He increased his target price for Schnitzer to $80 (U.S.) from $68 and reiterated his "buy" rating.
Trican Well Service
Yesterday's close $17.80, down 46¢
Andrew Bradford, who follows Trican Well Service Ltd. for Raymond James Ltd., said he was discouraged by the fourth-quarter results reported by Trican, and as a result, has reduced his 2008 and 2009 profit estimates to 86 cents a share and $1.19 respectively, from $1.13 and $1.37.
Downside: Mr. Bradford also reduced his recommendation on the stock to "underperform" from "outperform" and price target to $16 from $18.