Notable Analyst Upgrades and Downgrades (NASDAQ: MXWL) (TSX: III)

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The following stocks were upgraded/downgraded on January 17, 2014
Company Name Exchange Ticker Last Price Total Analyst Coverage Upgrade/

Downgrade
Analyst Name Rating Company Target Price Upside/

Downside (%)
Imperial Metals Corp TSX III  16.50 12 Upgrade to buy from neutral Aleem Ladak PI Financial Corp. 17.50 6.1%
Pengrowth Energy Corp TSX PGF  7.17 20 Upgrade to buy from hold Aaron Bilkoski TD Securities 9.00 25.5%
Oryx Petroleum Corp Ltd TSX OXC  14.10 8 Upgrade to outperform from sector perform Greg M Pardy RBC Capital Markets 18.00 27.7%
Paramount Gold and Silver Corp TSX PZG  1.26 3 Initiate with buy Joseph Reagor Roth Capital Partners 1.37 8.7%
Strategic Oil & Gas Ltd TSXV SOG 0.54 9 Downgrade to neutral from outperform Ray Kwan Macquarie 0.70 29.6%

PI Financial Corp. upgraded Imperial Metals Corp (TSX: III), engaged in the exploration, development and production of base and precious metals, to buy from neutral increasing its price target to C$17.50 from C$14.20, indicating an upside of 6.1% from current levels.

Pengrowth Energy Corp (TSX: PGF), engaged in the development, production and acquisition of, and the exploration for, oil and natural gas reserves, was upgraded to buy from hold at TD Securities raising its price target to C$9.00 from C$7.00, indicating an upside of 25.5% from current levels.     

RBC Capital Markets upgraded Oryx Petroleum Corp Ltd (TSX: OXC), an international oil exploration company, to outperform from sector perform raising its price target to C$18.00 from the earlier target of C$17.00, indicating an upside of 27.7% from current levels.

Roth Capital Partners initiated coverage on Paramount Gold and Silver Corp (TSX: PZG), a precious metals exploration company, with a buy rating assigning a 12-month price target of C$1.37, indicating an upside of 8.7% from current levels.

Macquarie downgraded Strategic Oil & Gas Ltd (TSXV: SOG), engaged in the exploration for and development of petroleum and natural gas reserves, to neutral from outperform lowering its price target to C$0.70 from the earlier target of C$1.10, indicating an upside of 29.6% from current levels.

The following stocks were upgraded/downgraded on January 17, 2014
Company Name Exchange Ticker Last Price Total Analyst

Coverage
Upgrade/

Downgrade
Analyst Name Rating Company Target Price Upside/

Downside (%)
Maxwell Technologies Inc NASDAQ MXWL  9.04 6 Upgrade to overweight from neutral Alexander E Potter Piper Jaffray 11.00 21.7%
Tetra Tech Inc NASDAQ TTEK  29.91 11 Upgrade to overweight from equalweight Will Gabrielski Stephens Inc 36.00 20.4%
WABCO Holdings Inc NYSE WBC  95.06 12 Initiate with outperform Scott H Group Wolfe Research 110.00 15.7%
STAG Industrial Inc NYSE STAG  21.45 12 Initiate with buy Daniel P Donlan Ladenburg Thalmann & Co 25.00 16.6%
Silver Spring Networks Inc NYSE SSNI  17.69 9 Downgrade to neutral from outperform Patrick Jobin Credit Suisse 23.00 30.0%

Piper Jaffray upgraded Maxwell Technologies Inc (NASDAQ: MXWL), a developer, manufacturer and marketer of energy storage and power delivery products for transportation, industrial, information technology and other applications and microelectronic products for space and satellite applications, to overweight from neutral increasing its price target to $11.00 from the earlier target of $8.50, indicating an upside of 21.7% from current levels.

Tetra Tech Inc (NASDAQ: TTEK), a provider of consulting, engineering, program management, construction management and technical services focusing on natural resource management, infrastructure, energy and the environment, was upgraded to overweight from equal-weight at Stephens Inc increasing its price target to $36.00 from $27.00, indicating an upside of 20.4% from current levels.

Wolfe Research initiated coverage on WABCO Holdings Inc (NYSE: WBC), a provider of electronic, mechanical and mechatronic products for the commercial truck, trailer, bus and passenger car manufacturers, with an outperform rating assigning a 12-month price target of $110.00, indicating an upside of 15.7% from current levels. 

Coverage on STAG Industrial Inc (NYSE: STAG), an integrated, full-service real estate company focused on the acquisition, ownership and management of single-tenant industrial properties, was initiated with a buy at Ladenburg Thalmann & Co with a 12-month price target of $25.00, indicating an upside of 16.6% from current levels.

Credit Suisse downgraded Silver Spring Networks Inc (NYSE: SSNI), a provider of networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid, to neutral from outperform with a price target of $23.00, indicating an upside of 30% from current levels.


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