A Canadian gold project developer and a U.S. bank holding company both received analyst upgrades, one of which has an implied upside of nearly 50%.
| Company Name | Exchange | Ticker | Last Price | Market Cap | Recommendation | Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Cardinal Energy Ltd | TSX | CJ | 13.22 | 749.3 | Upgrade to overweight from hold | Neil Fonseca | EVA Dimensions | NA | NA |
| Methanex Corp | TSX | MX | 57.46 | 5,384.2 | Upgrade to overweight from hold | Timothy Stanish | EVA Dimensions | NA | NA |
| Iona Energy Inc | TSXV | INA | 0.10 | 35.1 | Initiate with speculative buy | Stephane Foucaud | FirstEnergy Capital Corp | 0.40 | 300.0% |
| Solium Capital Inc | TSX | SUM | 6.99 | 333.2 | Initiate with sector outperform | Stephanie Price | CIBC World Markets | 8.75 | 25.2% |
| Westport Innovations Inc | TSX | WPT | 4.62 | 292.8 | Downgrade to hold from buy | Laurence Alexander | Jefferies | 5.95 | 28.8% |
EVA Dimensions upgraded Cardinal Energy Ltd (TSX: CJ), engaged in the exploration and development of oil, to overweight from hold. The rating company has not provided its target price for the company’s stock.
Methanex Corp (TSX: MX), engaged in the business of producing and marketing methanol, was upgraded by EVA Dimensions to overweight from hold. The rating company has not provided its target price for the company’s stock.
FirstEnergy Capital Corp initiated coverage on Iona Energy Inc (TSXV: INA), engaged in the evaluation, acquisition, exploration and development of oil and gas properties, with a speculative buy rating assigning a 12-month price target of C$0.40, indicating an upside of 300.0% from current levels.
Coverage on Solium Capital Inc (TSX: SUM), engaged in providing SaaS-based stock plan administration technology and services, was initiated with a sector outperform rating at CIBC World Markets, assigning a 12-month price target of C$8.75, indicating an upside potential of 25.2% from current levels.
Westport Innovations Inc (TSX: WPT), engaged in producing natural gas engines and fuel system components for on- and off-highway commercial vehicles as well as automobiles, was downgraded by Jefferies to hold from buy by reducing its price target to C$5.95 from C$9.04, implying an upside potential of 28.8% from current levels.
| Company Name | Exchange | Ticker | Last Price | Market Cap | Recommendation | Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Oasis Petroleum Inc | NYSE | OAS | 17.09 | 1,731.9 | Upgrade to Positive from neutral | Biju Perincheril | Susquehanna Financial Group | 29.00 | 69.7% |
| ITT Corp | NYSE | ITT | 40.02 | 3,665.8 | Upgrade to buy from neutral | Joseph Ritchie | Goldman Sachs | 47.00 | 17.4% |
| Navistar International Corp | NYSE | NAV | 36.16 | 2,942.3 | Upgrade to buy from neutral | Neil Frohnapple | Longbow Research | 44.00 | 21.7% |
| Arista Networks Inc | NYSE | ANET | 71.58 | 4,611.6 | Initiate with underperform | George C Notter | Jefferies | 52.50 | -26.7% |
| Diamond Offshore Drilling Inc | NYSE | DO | 30.50 | 4,183.0 | Downgrade to neutral from buy | Darren Gacicia | Guggenheim Securities LLC | 33.00 | 8.2% |
Susquehanna Financial Group upgraded Oasis Petroleum Inc (NYSE: OAS), engaged in the acquisition and development of unconventional oil and natural gas resources, to positive from neutral with a price target of $29.00, indicating an upside of 69.7% from current levels.
ITT Corp (NYSE: ITT), engaged in the business of manufacturing engineered components and customized technology solutions for industrial end-markets, was upgraded by Goldman Sachs to buy from neutral with a price target of $47.00, indicating an upside potential of 17.4% from current levels.
Longbow Research upgraded Navistar International Corp (NYSE: NAV), engaged in the business of manufacturing and marketing medium and heavy trucks, school buses, mid-range diesel engines and service parts, to buy from neutral with a price target of $44.00, indicating an upside of 21.7% from current levels.
Jefferies initiated coverage on Arista Networks Inc (NYSE: ANET), engaged in providing cloud networking solutions for data-centers and computer environments, with an underperform rating assigning a 12-month price target of $52.50, indicating a downside of 26.7% from current levels.
Diamond Offshore Drilling Inc (NYSE: DO), engaged in the global offshore oil and gas drilling contract business, was downgraded by Guggenheim Securities LLC to neutral from buy by reducing its price target to $33.00 from $50.00, implying an upside potential of 8.2% from current levels.
