Anderson Energy Ltd (AXL: TSX : $1.20)
Target Cut to C$1.45 from C$1.65 by CIBC

Badger Income Fund (BAD.UN: TSX : $15.85)
Target Raised to C$20 from C$19.50 by Cormark Securities

Brookfield Asset Management Inc (BAM'A: TSX : $25.32)
Target Raised to $31 from $28.50 by CIBC

Biovail Corporation (BVF: TSX : $16.88)
Target Raised to $19 from $17 by RBC Capital Capital

Cathedral Energy Services Ltd (CET: TSX : $6.05)
Target Raised to C$8 from C$7.50 by Cormark Securities

Canadian Energy Services & Technology (CEU: TSX : $14.70)
Target Raised to C$18 from C$17 by Cormark Securities
Cut to Buy from Top Pick by Cormark Securities

Calfrac Well Svcs Ltd (CFW: TSX : $22.81)
Target Cut to C$31 from C$32 by Cormark Securities

Cinch Energy Corp (CNH: TSX : $1.31)
Target Cut to C$1.75 from C$2 by Dundee

Dhx Media Limited (DHX: TSX : $1.20)
Target Raised to C$1.25 from C$1 by TD Newcrest

Ensign Energy Services Inc (ESI: TSX : $14.63)
Target Raised to C$20 from C$19 by Cormark Securities

Fairborne Energy Ltd (FEL: TSX : $4.02)
Target Cut to C$5 from C$5.50 by Dundee

First Quantum Minerals Ltd (FM: TSX : $82.91)
Raised to Buy from Hold by Paradigm

Firstservice Corporation Sv (FSV: TSX : $24.31)
Target Raised to $25 from $21 by Raymond James

Gildan Activewear Inc (GIL: TSX : $28.20)
Target Raised to C$32 from C$29 by UBS

Galleon Energy Inc (GO: TSX : $6.90)
Target Cut to C$7.75 from C$8.25 by Dundee

Gran Tierra Energy Inc (GTE: TSX : $6.37)
Target Raised to C$8 from C$6.75 by Dundee

Iteration Energy Ltd (ITX: TSX : $1.64)
Target Cut to C$1.75 from C$1.80 by Dundee

Midnight Oil Exploration Ltd (MOX: TSX : $1.19)
Target Cut to C$1.10 from C$1.25 by Dundee

Angle Energy Inc (NGL: TSX : $8.03)
Target Cut to C$9.50 from C$10 by CIBC

Orleans Energy Ltd (OEX: TSX : $2.56)
Target Cut to C$2.75 from C$3 by Dundee

Open Range Energy Corp (ONR: TSX : $1.78)
Target Cut to C$2.40 from C$2.75 by Dundee

Precision Drilling Trust (PD.UN: TSX : $7.56)
Raised to Top Pick from Buy by Cormark Securities

Petrolifera Petroleum Limited (PDP: TSX : $0.94)
Target Raised to C$1.15 from C$1.05 by Scotia Capital
Target Raised to C$1.50 from C$1.25 by Cormark Securities

Petrominerales Ltd (PMG: TSX : $32.06)
Target Raised to C$43.50 from C$41 by Dundee

Potash Corp Sask Inc (POT: TSX : $110.23)
Raised to Hold from Sell by Soleil

Pacific Rubiales Energy Corp (PRE: TSX : $19.84)
Target Raised to C$25 from C$23.50 by Dundee

Progress Energy Resouces Corp (PRQ: TSX : $12.52)
Target Cut to C$14.75 from C$15 by Dundee

Pure Energy Svcs Ltd (PSV: TSX : $2.75)
Target Raised to C$2.75 from C$2.50 by Cormark Securities

Rock Energy Inc (RE: TSX : $5.11)
Target Raised to C$5.75 from C$5.25 by Dundee

Stoneham Drilling Trust (SDG.UN: TSX : $5.27)
Target Raised to C$8.50 from C$7.50 by Cormark Securities

Storm Exploration Inc (SEO: TSX : $11.02)
Target Cut to C$13.75 from C$14.75 by Dundee

Savanna Energy Services Corp (SVY: TSX : $6.81)
Target Raised to C$8 from C$7.50 by Cormark Securities

Transglobe Energy Corp (TGL: TSX : $6.95)
Target Raised to C$8 from C$6.75 by Dundee

Total Energy Services Inc (TOT: TSX : $9.14)
Target Raised to C$12.50 from C$11 by Cormark Securities

Torstar Corp (TS'B: TSX : $11.67)
Target Raised to C$12.50 from C$9.50 by National Bank

Terra Energy Corp (TT: TSX : $1.68)
Target Cut to C$2.25 from C$2.50 by Dundee

Vero Energy Inc (VRO: TSX : $6.80)
Target Cut to C$9 from C$9.50 by Dundee
Target Raised to C$11 from C$10 by GMP Securities
Target Raised to C$11 from C$9 by Cormark Securities