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The Investors Centre - Upgrades/Downgrades Upgrade Upgrade Downgrade Downgrade No change No change Initiated Initiated Not available Not available
Report date: March 27, 2001 Check out all the Upgrades/Downgrades for March

Move
Name
Previous
Recommendation
Target
Who
No change
Aeterna Laboratories (AEL:TSE) (reiterated) Short/long term outperform US $10 Gruntal & Co.
Downgrade
Alliance Forest Products (ALP:TSE) Buy Hold n/a National Bank Financial
Downgrade
------------------------ Hold Reduce C $17 Scotia Capital
No change
Certicom (CIC:TSE) (reiterated) Outperform n/a BMO Nesbitt Burns
Not available
Cogeco Cable Inc. (CCA:TSE) ? Reduce C $28 Scotia Capital
Initiated
Hemosol Inc. (HML:TSE) (initiated) Buy speculative US $13 Dain Rauscher Wessels
Initiated
------------- (initiated) Strong buy n/a UBS Paine Webber
No change
Inco (N:TSE) (maintained) Buy C $28.50 Thomson Kernaghah & Co.
No change
Microcell Telecommunications (MTI.B:TSE) (maintained) Buy C $31 Canaccord Capital
Downgrade
---------------------------- Strong buy Buy C $48 CIBC World Markets
No change
---------------------------- (maintained) Buy C $34 Scotia Capital
Not available
Norske Skog (NS.A:TSE) ? Outperform C $22.30 RBC Dominion Securities
Downgrade
--------------- Buy Hold C $20.75 Scotia Capital
Initiated
Quebecor World (IQW:TSE) (initiated) Buy US $30 Scotia Capital
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US Focus
Move
Name
Previous
Recommendation
Target
Who
No change
Boeing (BA) (reiterated) Buy n/a Banc of America Securities
No change
Cisco Systems (CSCO) (reiterated) Affirm n/a Epoch Partners
No change
eBay (EBAY) (reiterated) Recommended list n/a Goldman Sachs
Upgrade
Johnson & Johnson (JNJ) Buy Strong buy n/a McDonald Investments
No change
--------------------- (reiterated) Strong buy US $122 Prudential
No change
--------------------- (reiterated) Strong buy n/a UBS Paine Webber
No change
Handspring (HAND) (reiterated) Buy n/a Pacific Crest
No change
Intel (INTC) (resumed) Market outperform US $36 Goldman Sachs
No change
Nokia (NOK) (reiterated) Strong buy n/a Credit Suisse First Boston
No change
Palm Inc. (PALM) (reiterated) Neutral n/a Salomon Smith Barney
Initiated
Texas Instruments (TXN) (initiated) Recommended list US $46 Goldman Sachs
No change
Transmeta (TMTA) (reiterated) Near/long term buy US $61 Merrill Lynch
No change
U.S. Bancorp (USB) (reiterated) Recommended list n/a Goldman Sachs
No change
Wells Fargo (WFC) (reiterated) Recommended list n/a Goldman Sachs
Last updated March 27, 2001 @5:38PM EST
The Financial Ad Trader
The Financial Ad Trader

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