Donald Guloien, Manulife Financial Corp., $4.2-millionADRIEN VECZAN/Reuters
Inside the Market's roundup of some of today's key analyst actions. This file will be updated during the trading day.
B2Gold Corp. trades like a junior miner while it gradually becomes an intermediate, says Dundee Capital Markets analyst Joseph Fazzini.
Mr. Fazzini says through production growth and declining cash costs as a result of consistent operational execution at its Masbate mine in the Philippines, he expects B2Gold to gradually re-rate and trade closer to its intermediate peers.
He maintains his "buy" rating and $3.00 (Canadian) price target. The analyst consensus price target is $2.82.
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Bellatrix Exploration Ltd. has announced that it will achieve its 2014 exit guidance, which should be viewed positively by the market, says CIBC World Markets analyst Adam Gill.
Bellatrix will produce 47,000 to 49,000 Boe/d thanks to the start-up of the Twin Rivers pipeline and additional booster compression to the Blaze plant, says Mr. Gill.
He maintains his "sector performer" rating and $6 (Canadian) target price. The analyst consensus price target is $6.38.
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A recent acquisition will provide Information Services Corporation with new growth opportunities, says CIBC World Markets analyst Stephanie Price.
The company $10-million purchase of econveyance, a property transaction services firm, is a "strategic and synergistic fit that complements ISV's offerings to include management of real property transactions," says Ms. Price. Management expects to launch econveyance in Saskatchewan in 2015.
She maintains her "sector performer" rating and $20 target price. The analyst consensus price target is $20.67.
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Manulife Financial Corp.'s acquisition of the New York Life Retirement Plan Services (RPS) business will help the company to grow its U.S. operations, says Desjardins Capital Markets analyst Doug Young.
"The transaction bulks up Manulife's existing US RPS operations and distribution capabilities, adds new product offerings and helps its expansion into the mid- and large-case market," says Mr. Young.
Mr. Young maintains his "buy" rating and $25 (Canadian) price target. The analyst consensus price target is $24.82.
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Ivernia Inc. shares have effectively become call options on the price of lead, says Dundee Capital Markets analyst Joseph Gallucci.
Mr. Gallucci explains that the LME lead price has declined 14 per cent since third-quarter 2014, and is the "most significant factor affecting profitability and cash flow."
He is downgrading the stock to "neutral" from "buy" and maintaining his $0.30 target price. The analyst consensus price target is $0.28 (Canadian).
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In other analyst actions
Arctic Cat Inc. was rated new "market perform" by Wells Fargo analyst Timothy Conder.
Virgin America Inc. was rated new "outperform" by Cowen analyst Helane Becker. The 12-month target price is $42 (U.S.) per share.