EYE ON EQUITIES
PEMBINA PIPELINE (PPL-TSX) CLOSE $40.38, UP 23¢
Although he does not expect
Pembina Pipeline Corp. to have a “flashy” 2018, Industrial Alliance Securities analyst Elias Foscolos thinks it will produce “steady” results and continue to grow both its EBITDA and adjusted funds from operations (AFFO) through 2019. Mr. Foscolos upgraded his rating to “strong buy” from “buy.”
Target: His target fell by a loonie to $50, which is below the $51.19 average on the Street.
MEDRELEAF (LEAF-TSX) CLOSE $20.84, UP $1.09
MedReleaf Corp. “is continuing to check all the boxes” to maintain its leading position in the marijuana industry, said Canaccord Genuity analyst Matt Bottomley, citing both the introduction of its first recreation brand on Feb. 9 and the bolstering of its “already leading” medical product offerings.
Target: With a “speculative buy” rating (unchanged), Mr. Bottomley increased his target to $30 from $21.50. Consensus is $27.64.
YANGARRA RESOURCES (YGR-TSX) CLOSE $5, UP 75¢
Yangarra Resources Ltd. exhibits “top of the class” reserve metrics, Raymond James analyst Jeremy McCrea said. He raised his rating to “strong buy” from “outperform” after Tuesday’s release of its 2017 year-end oil and gas reserves. “We think the [year-todate] pull-back is one of few opportunities investors might see this year,” he said.
Target: Mr. McCrea has a $6 target. Consensus is $6.59.
FIRST QUANTUM (FM-TSX) CLOSE $21.09, UP 87¢
RBC Dominion Securities analyst Stephen Walker continues to expect a positive rerating of First
Quantum Minerals Ltd. shares as its Cobre Panama copper development project ramps up. “We believe that First Quantum offers investors the potential for attractive returns based on its copper production growth over the next 4-5 years,” Mr. Walker said.
Target: Keeping an “outperform” rating, his target rose to $23 from $21. Consensus is $22.30.
MEDIAGRIF (MDF-TSX) CLOSE $11.19, UP 28¢
Echelon Wealth Partners analyst Amr Ezzat thinks Mediagrif Interactive Technologies Inc.’s
“strong” cash flow generation should “bode well” for its stock price. “We continue to think this is an opportunistic time to accumulate a position in a solid operator,” he said.
Target: Maintaining a “buy” rating, he lowered his target to $16 from $19. Consensus is $15.10.