| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| BlackBerry Ltd | TSX | BB | 9.56 | 43 | Upgrade to sector perform from underperform | Mark Sue | RBC Capital Markets | 10.89 | 13.9% |
| Niko Resources Ltd | TSX | NKO | 2.38 | 10 | Upgrade to buy from hold | Alan Knowles | Haywood Securities Inc. | 6.00 | 152.1% |
| New Gold Inc | TSX | NGD | 5.73 | 19 | Initiate with buy | Josh Wolfson | Dundee Securities Corp | 7.25 | 26.5% |
| DIRTT Environmental Solutions | TSX | DRT | 2.85 | 3 | Initiate with buy | Sarah Hughes | Cormark Securities Inc. | 3.50 | 22.8% |
| ShawCor Ltd | TSX | SCL | 39.13 | 6 | Downgrade to market perform from buy | Sarah Hughes | Cormark Securities Inc. | 44.00 | 12.4% |
RBC Capital Markets upgraded BlackBerry Ltd (TSX: BB), a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market, to sector perform from underperform raising its price target to C$10.89 from C$6.45, indicating an upside of 13.9% from current levels. Analyst Mark Sue believes that BB’s new management team is moving quickly to improve the liquidity and strengthen the balance sheet. Further, analyst notes that the company has significant long-term challenges, yet de-risking the balance sheet may give the company something it has not had before: time and flexibility to recompose its four business segments.
Niko Resources Ltd (TSX: NKO), engaged in the exploration for and development and production of natural gas and oil, was upgraded to buy from hold at Haywood Securities Inc. with a price target of C$6.00, indicating an upside of 152.1% from current levels.
Dundee Securities Corp initiated coverage on New Gold Inc (TSX: NGD), engaged in gold mining and related activities, including acquisition, exploration, extraction, processing and reclamation, with a buy rating assigning a 12-month price target of C$7.25, indicating an upside potential of 26.5% from current levels.
Cormark Securities Inc. started coverage on DIRTT Environmental Solutions (TSX: DRT), a manufacturer of interior space solutions, with a buy rating assigning a 12-month price target of C$3.50, indicating an upside of 22.8% from current levels.
However, Cormark downgraded ShawCor Ltd (TSX: SCL), a global energy services company, to market perform from buy lowering its price target to C$44.00 from C$48.00, indicating an upside of 12.4% from current levels.
| Company Name | Exchange | Ticker | Last Price |
Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Cloud Peak Energy Inc | NYSE | CLD | 16.88 | 19 | Upgrade to outperform from market perform | Mitesh B Thakkar | FBR Capital Markets | 24.00 | 42.2% |
| Qlik Technologies Inc | NASDAQ | QLIK | 27.74 | 20 | Upgrade to buy from hold | Ross Macmillan | Jefferies | 35.00 | 26.2% |
| Alliant Techsystems Inc | NYSE | ATK | 135.89 | 14 | Upgrade to buy from hold | Jonathan Gelcius | Argus Research Corp | 139.00 | 2.3% |
| BioAmber Inc | NYSE | BIOA | 8.60 | 4 | Initiate with overweight | Andreas Heine | Barclays | 10.70 | 24.4% |
| Allegheny Technologies Inc | NYSE | ATI | 35.27 | 11 | Downgrade to hold from buy | David S Martin | Deutsche Bank | 36.00 | 2.1% |
FBR Capital Markets upgraded Cloud Peak Energy Inc (NYSE: CLD), a coal producing company, to outperform from market perform increasing its price target to $24.00 from $18.00, indicating an upside potential of 42.2% from current levels. The rating firm believes that improving steam coal markets will benefit PRB coal prices and CLD’s potential for free cash flow generation due to limited reinvestment capex needs will drive the stock price. Further, the rating firm cites that valuation has become more attractive with the recent pullback in the stock, helping to make CLD the most attractive coal stock.
Qlik Technologies Inc (NASDAQ: QLIK), a provider of user-driven business intelligence (BI) solutions, was upgraded to buy from hold at Jefferies raising the price target to $35.00 from $29.00, indicating an upside of 26.2% from current levels. Analyst Ross Macmillan believes that the business model set-up for 2014 is reasonable, valuation looks more attractive and the company’s next product release could help sentiment this year and fundamentals in 2015.
Argus Research Corp upgraded Alliant Techsystems Inc (NYSE: ATK), an aerospace, defense, and commercial products company, to buy from hold with a price target of $139.00, indicating an upside of 2.3% from current levels.
Barclays initiated coverage on BioAmber Inc (NYSE: BIOA), a chemical company engaged in manufacturing bio-succinic acid, with an overweight rating assigning a 12-month price target of $10.70, indicating an upside of 24.4% from current levels.
Deutsche Bank downgraded Allegheny Technologies Inc (NYSE: ATI), a diversified specialty metals producer, to hold from buy with a price target of $36.00, indicating an upside of 2.1% from current levels.
