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The Investors Centre - Upgrades/Downgrades: November 10, 2000
Name
Previous
New Recommendation
Target
Who
Axcan Pharma Inc. (AXP:TSE) Buy Hold C $18 National Bank Financial
Ballard Power Systems Inc (BLD:TSE) (maintained) Outperform C $175 BMO Nesbitt Burns
  (maintained) Strong Buy C $210 CIBC World Markets
Bank of Montreal (BMO:TSE) (maintained) Buy n/a Scotia Capital
Canadian Natural Resources (CNQ:TSE) (reiterated) Outperform C $59 BMO Nesbitt Burns
  (maintained) Strong Buy C $90 Research Capital
CGI Group Inc. (GIB.A:TSE) Underperform Market perform n/a BMO Nesbitt Burns
CIBC (CM:TSE) (maintained) Outperform C $53 BMO Nesbitt Burns
Fortis Inc. (FTS:TSE) (new coverage) Buy C $38 CIBC World Markets
Hummingbird Communications Ltd. (HUM:TSE) (maintained) Outperform US $33 RBC Dominion Securities
Manulife Financial (MFC:TSE) (reiterated) Buy C $43 Scotia Capital
  (reiterated) Buy C $44 CIBC World Markets
  Focus Buy Buy C $44 GMP
Molson Inc (MOL.A:TSE) Buy Hold n/a Scotia Capital
North American Palladium Ltd (PDL:TSE) (new coverage) Accumulate C $13.50 Northern Securities
Placer Dome Inc. (PDG:TSE) (reiterated) Buy C $21 Canaccord Capital
QLT Inc. (QLT:TSE) (reiterated) Buy US $100 Lehman Brothers
  (reiterated) Strong Buy US $102 Deutsche Banc
  (reiterated) Outperform C $134 Yorkton Securities
Tecsys Inc. (TCS:TSE) Focus Buy Accumulat C $9 Griffiths McBurney
Thomson Corp (TOC:TSE) (maintained) Outperform C $65 BMO Nesbitt Burns
  (reiterated) Sell C $55 National Bank Financial
  Market perform Market underperform C $50 Canaccord Capital
Toronto Dominion Bank (TD:TSE) (maintained) Strong Buy n/a Scotia Capital
US Companies
Dell Computer (DELL) Outperform Neutral n/a Morgan Stanley Dean Witter
  Strong Buy Buy n/a Banc of America Sec
Intel (INTC) Outperform Neutral n/a Morgan Stanley Dean Witter
MGM Grand (MGG) Buy Hold n/a UBS Warburg
RadioShack (RSH) Strong Buy Buy n/a Banc of America Sec
Walt Disney (DIS) Strong Buy Buy n/a CSFB
  Hold Buy n/a Credit Lyonnais Sec
  Buy Outperform n/a Saloman Smith Barney

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