Salman Introduces New Top Pick Rating; UpgradSalman Introduces New Top Pick Rating; Upgrades 13 Stks
12:00 EDT Wednesday, April 04, 2007
TORONTO (Dow Jones)--In releasing its top picks for the second quarter, once again heavily weighted towards resource companies, Salman Partners introduced a new rating of top pick and raised 13 companies in its coverage universe to the new level.
The new rating, which is above the current buy rating, will be applied if: a stock represents the best risk/reward ratio within an analyst's coverage list; is perceived as having a minimum 12-month return of 10%; and is perceived as having positive, near-term catalysts.
Salman analysts Terry Salman, Haytham Hodaly and Jayson Moss said in a research report Wednesday that the change allows the firm to update its top picks on a timelier basis to incorporate any changes in fundamentals or company- specific events.
Salman has upgraded the following companies to top pick from buy: Acadian Timber Income Fund (ADN.UN.T), ACE Aviation Holdings Inc. (ACE.B.T), Agnico- Eagle Mines Ltd. (AEM), Cameco Corp. (CCJ), Canadian National Railway Co. (CNI), Crew Energy Inc. (CR.T), Endeavour Silver Corp. (EXK), Miramar Mining Corp. ( MNG), Northern Peru Copper Corp. (NOC.T), Red Back Mining Inc. (RBI.T), Sierra Wireless Inc. (SWIR), Silvercorp Metals Inc. (SVM.T), and UTS Energy Corp. ( UTS.T).
The analysts said the new additions to its list of top picks for the year include Miramar, Agnico-Eagle, Red Back, Canadian National and ACE Aviation. The other companies were all in Salman's first-quarter top picks list issued in January.
Salman has removed Eldorado Gold Corp. (EGO) and Minefinders Corp. (MFN) from its top picks list, though it continues to recommend both at buy.
(MORE TO FOLLOW) Dow Jones Newswires
04-04-07 1159ET
Copyright (c) 2007 Dow Jones & Company, Inc