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EYE ON EQUITIES

STOCKS THAT SHOULD BE ON YOUR RADAR SCREEN

STELCO: (STE-TSX)

Yesterday's close $27.34, down 15¢

Suppose Stelco is the one steel company that doesn't get taken over. Looked at the underlying strategy lately?

Downside: Stelco is shifting production toward low-margin slab steel, and away from high-margin cold rolled steel and galvanized metal. The company may see better profits in this product mix, but Scotia Capital cautioned it leaves Stelco wide open to undercutting by lower-cost imports. Andrew Willis

COM DEV INTERNATIONAL: (CDV-TSX)

Yesterday's close $4.83, down 14¢

Com Dev International Ltd., which makes satellite subsystems, recently warned of cost overruns and saw its stock get hammered last month, but it already is bouncing back after a new contract was announced with the U.S. military.

Upside: Business is about to accelerate in many areas of the satellite market, said Versant analyst Corey Dias. He initiated coverage with a target of $6.50.

Simon Avery

ABSOLUTE SOFTWARE: (ABT-TSX)

Yesterday's close $21.00, up $1.01

Absolute Software Corp. scored upgrades from analysts after reporting its third consecutive quarter of 100 per cent-plus growth in sales contracts. Revenue rose 77 per cent to $5.3-million. The loss widened slightly to $1.2-million.

Upside: "Absolute remains one of the most attractive technology investments in the Canadian space," said Spencer Churchill of Clarus Securities Inc. He raised his target to $28 from $22. Simon Avery

GREY ISLAND SYSTEMS: (GIS-X)

Yesterday's close 50¢, down 2¢

Shares of penny-stock Grey Island Systems International Inc., which does Internet services for fleet management, have been on a tear this year.

Upside: For those investors who like to follow hot investors, Grey Island shows up as a top 10 holding of the Mavrix Small Companies Fund, which is the best Canadian small-cap fund of the last three months. Angela Barnes

SHARES S&P/TSX INCOME TRUST ETF: (XTR-TSX)

Yesterday's close $14.02 U.S., up 11¢

Investors who didn't sell after Oct. 31 and hung on to the income-trust ETF offered by Barclays are getting close to being whole again.

Kudos: The fund closed at $15 on Halloween, before the big fall, and has now clawed its way back above $14 for the first time. Toss in the 60 cents a share of distributions and those who gutted it out are almost whole. Boyd Erman

© 2007 The Globe and Mail. All rights reserved.

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