CML, Husky, Suncor, Telus, Timminco: Canadian Equity Preview

By John Kipphoff

Oct. 7 (Bloomberg) -- The following companies may have unusual price changes in Canadian trading today. Stock symbols are in parentheses, and share prices are from yesterday's close in Toronto.

The Standard & Poor's/TSX Composite Index dropped 5.3 percent to 10,230.43.

CML HealthCare Income Fund (CLC-U CN): The Mississauga, Ontario-based drug development and research company was raised to ``sector outperform'' from ``sector perform'' at CIBC World Markets. The shares fell 6.9 percent to C$12.75.

Husky Energy Inc. (HSE CN): The oil and gas producer controlled by Hong Kong billionaire Li Ka-shing was raised to ``overweight'' from ``neutral'' by JPMorgan analyst Katherine Lucas Minyard in New York. The shares fell 9.3 percent to C$35.61.

Ivanhoe Energy Inc. (IE CN): The Canadian oil and natural- gas producer will sign an oil production deal this week with state-owned energy company PetroEcuador, Ecuador's Mines and Oil Minister Galo Chiriboga said. Ivanhoe shares fell 2.3 percent to C$1.30.

Suncor Energy Inc. (SU CN): The world's second-largest oil- sands producer was downgraded to ``underweight'' from ``overweight'' by JPMorgan's Minyard. The shares dropped 12 percent to C$32.15.

Telus Corp. (T CN): Canada's second-biggest phone company was raised to ``buy'' from ``neutral/short-term sell'' by Jeffrey Fan at UBS AG in Toronto. With UBS predicting a recession around the globe and in Canada, phone companies ``provide shelter'' to investors, given resilient earnings, strong balance sheets and high dividends, the Toronto-based analyst wrote in a note today. Telus may even modestly increase its payout in November, Fan wrote. The shares fell 1.9 percent to C$38.78.

Timminco Ltd. (TIM CN): The maker of silicon for use in solar cells said it produced 342 metric tons of the material during the third quarter. Timminco reiterated its forecast for shipments of 1,200 to 1,500 metric tons in 2008, according to a statement carried on Market Wire. The shares fell 5.3 percent to C$13.25.

To contact the reporter on this story: John Kipphoff in Toronto at jkipphoff@bloomberg.net.