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 (%) |
|---|---|---|---|---|---|---|---|---|---|
| Ballard Power Systems Inc | TSX | BLD | 3.64 | 480.9 | Upgrade to buy from hold | Robert D. Brown | Lake Street Capital Markets LLC | 5.00 | 37.4% |
| Westaim Corp/The | TSXV | WED | 3.00 | 210.9 | Initiate with buy | Jeff Fenwick | Cormark Securities Inc. | 4.25 | 41.7% |
| Ritchie Bros Auctioneers Inc | TSX | RBA | 33.13 | 3,567.7 | Initiate with buy | Sara O’Brien | RBC Capital Markets | 38.73 | 16.9% |
| Mullen Group Ltd | TSX | MTL | 20.60 | 1,887.2 | Downgrade to underperform from market perform | Kevin Lo | FirstEnergy Capital Corp | 19.00 | -7.8% |
Lake Street Capital Markets LLC upgraded Ballard Power Systems Inc (TSX: BLD), engaged in designing, developing, manufacturing, selling and servicing hydrogen fuel cells for a range of applications, to buy from hold by raising its price target to C$5.00 from C$4.46, indicating an upside potential of 37.4% from current levels.
Coverage on Westaim Corp/The (TSX: WED), engaged in offering a range of property and casualty insurance products to insurance brokers across Canada, was initiated with a buy rating at Cormark Securities Inc. by assigning a 12-month price target of C$4.25, indicating an upside potential of 41.7% from current levels.
RBC Capital Markets initiated coverage on Ritchie Bros Auctioneers Inc (TSX: RBA), engaged in the business of auctioning industrial equipment, with a buy rating assigning a 12-month price target of C$38.73, indicating an upside of 16.9% from current levels.
FirstEnergy Capital Corp downgraded Mullen Group Ltd (TSX: MTL), engaged in owning asset based oilfield services and trucking businesses, to underperform from market perform by reducing its price target to C$19.00 from C$21.00, indicating a downside of 7.8% from current levels.
| Company Name | Exchange | Ticker | Last Price | Market Cap | Recommendation | Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| DSW Inc | NYSE | DSW | 36.44 | 3,214.99 | Initiate with buy | Edward Plank | Jefferies | 43.00 | 18.0% |
| WPX Energy Inc | NYSE | WPX | 12.64 | 2,570.60 | Initiate with outperform | Andrew Coleman | Raymond James | 16.00 | 26.6% |
| NGL Energy Partners LP | NYSE | NGL | 29.92 | 2,684.52 | Initiate with buy | Nathan Judge | Janney Montgomery Scott LLC | 40.00 | 33.7% |
| zulily Inc | NASDAQ | ZU | 14.52 | 1,819.88 | Downgrade to sector perform from outperform | Mark S Mahaney | RBC Capital Markets | 18.00 | 24.0% |
Jefferies initiated coverage on DSW Inc (NYSE: DSW), engaged in the business of retailing branded footwear, with a buy rating assigning a 12-month price target of $43.00, indicating an upside of 18.0% from current levels.
Coverage on WPX Energy Inc (NYSE: WPX), engaged in the exploration and production of oil and natural gas, was initiated with an outperform rating at Raymond James by assigning a 12-month price target of $16.00, indicating an upside potential of 26.6% from current levels.
Janney Montgomery Scott LLC initiated coverage on NGL Energy Partners LP (NYSE: NGL), engaged in operating crude oil logistics, water solutions, liquids and retail propane segments, with a buy rating assigning a 12-month price target of $40.00, indicating an upside of 33.7% from current levels.
zulily Inc (NASDAQ: ZU), engaged in online retailing business, was downgraded by RBC Capital Markets to sector perform from outperform by reducing its price target to $18.00 from $45.00, indicating an upside of 24.0% from current levels.
