CANADA RESEARCH SUMMARY: Dec 4 1534 GMT

Following is a summary of research actions on Canadian
companies reported by Reuters on Thursday. Stock entries are
in alphabetical order.
For a summary of research on S&P 500 companies, double click
on [RCH/US]
For a summary of research on non-S&P 500 companies, double
click on [RCH/US2]
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------------ STOCK RESEARCH BY ACTION
Arc Energy Trust Credit Suisse Starts with neutral;
Price target of
(AET_u.TO) C$20
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------------ Baytex Energy Trust RBC Cuts
price target to C$21 from C$23;
(BTE_u.TO) rating sector
perform
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------------ Canadian Western Dundee Cuts
price target to C$16.00 from
Bank (CWB.TO) C$17.00; rating
neutral
----------------------------------------------------------------
----------- Certicom Corp CIC.TO Blackmont Raises to
speculative buy from hold
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------------ Conjuchem Dundee Cuts to
neutral from buy
Biotechnologies Inc (CJB.TO)
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------------ Corel Corp (CRE.TO) Piper Jaffray Cuts to
neutral from buy, reports
(CREL.O) theflyonthewall.com
---------------------------------------------------------------
------------ Energy Savings Income Haywood Raises
to sector outperform from
Fund SIF_u.TO sector perform
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------------ Equitable Group Inc Scotia Cuts to
sector underperform from
(ETC.TO) sector perform
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------------ First National Scotia Cuts to
sector perform from sector
Financial Income Fund (FN_u.TO) outperform
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------------ Gildan Activewear Inc Paradigm Raises
to buy from hold
(GIL.TO) (GIL.N)
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------------ Osisko Mining Corp Dundee Cuts
price target to C$4.80 from
(OSK.TO) C$5.80; rating buy
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------------ Pacific Northern Gas BMO Cuts
price target to C$17 from C$18;
(PNG.TO) rating market
perform
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------------ Qustream Corp (QVC.V) Dundee Cuts to
neutral from buy
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------------ Research in Motion Paradigm Cuts
price target to C$85 from C$190;
Ltd (RIM.TO) rating strong buy
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------------ Sceptre Investment Scotia Raises
to sector outperform from
Counsel Ltd (SZ.TO) sector perform
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------------ Tundra Semiconductor RBC Cuts
price target to C$5.25 from C$7;
(TUN.TO) rating outperform

Dundee Cuts price target to
C$5.80 from

C$6.50; rating buy
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------------ Yamana Gold (YRI.TO) Raymond James Starts
with outperform rating
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------------ ((Compiled by Amiteshwar Singh and Mary Meyase;
Bangalore Equities Newsdesk +91 80 4135 5800; within U.S. +1
646 223 8780))