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eye on equities

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

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.

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.