EYE ON EQUITIES

The Globe and Mail (Ottawa/Quebec Edition) - - GLOBE INVESTOR - DAVID LEEDER

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.

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