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Canaccord Adams has unveiled its top stock market picks for the current volatile market conditions. All firms have fallen more than 50% from their peak, offer good growth potential, have at least two years of cash funding availability on hand, have or are about to have a positive cash flow and are large and liquid.

Among the top picks is EnCana Corp. (NYSE:ECA), Cannacord says is positioned in several emerging natural gas resource plays that will support long-term growth. Others include Fairborne Energy (OTCPK:FAIRF), which is able to fund its capital program and is expecting growth from emerging resource plays; and Suncor Energy (NYSE:SU), which is the most experienced oilsands operator and based on current commodity prices, is expected to generate C$5-billion in cash flow in 2009. Canaccord say Potash Corp. (NYSE:POT), which is down 65% from its peak in mid June, is another good buy because it is a solid company and does not require funding.

Top Picks (alphabetical order): 

  • Aecon Group Inc. (OTCPK:AEGXF) - Buy C$7.65, target price C$12.75
  • Baytex Energy (NYSE:BTE) - Buy C$20.41, target price C$26.00
  • Boardwalk REIT (OTCPK:BOWFF) - Buy C$25.02, target price C$50.00
  • Carmanah Res Ltd. (OTC:CMHRF) - Buy C$0.64, target price C$2.60
  • EnCana Corp. - Buy C$59.90, target price C$65.00
  • Fairborne Energy Ltd. - Buy C$6.91, target price C$13.00
  • Finning International (OTCPK:FINGF) - Buy C$15.03, target price C$20.50
  • FNX Mining Company Inc. (OTC:FNXMF) - Buy C$4.88, target price C$10.00
  • HudBay Minerals (HBMFF.PK) - Buy C$5.44, target price C$10.00
  • IAMGOLD Corp. (NYSE:IAG) - Buy C$4.13
  • Jazz Air Income Fund (OTC:JAARF) - Buy C$4.13, target price C$8.20
  • Kinross Gold Corporation (NYSE:KGC) - Buy C$13.24
  • Nexen Inc. (NXY) - Buy C$19.21, target price C$32.00
  • Potash Corp. (POT) - target price C$150.00
  • Quadra Mining Ltd. (OTC:QADMF) - Buy C$5.00, target price C$11.50
  • Sandvine Corp. (OTC:SNVNF) - Speculative Buy C$0.80, target price C$1.50
  • Stantec Inc. (NYSE:SXC) - Buy C$19.77, target price C$35.00
  • Suncor Energy Inc. - Buy C$28.29, target price C$54.00
  • Trinidad Drilling Ltd. (OTCPK:TDGCF) - Buy C$6.65, target price C$12.00
Source: Canaccord Adams Picks Stocks for a Volatile Market