| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Africa Oil Corp | TSXV | AOI | 8.14 | 24 | Upgrade to buy from sell | David Mirzai | Societe Generale | 9.83 | 20.8% |
| Uex Corp | TSX | UEX | 0.50 | 2 | Upgrade to buy from neutral | David A Talbot | Dundee Securities Corp | 0.80 | 60.0% |
| Corridor Resources Inc | TSX | CDH | 1.38 | 2 | Upgrade to outperform from neutral | David Popowich | Macquarie | 2.50 | 81.2% |
| Melcor Real Estate Investment Trust | TSX | MR-U | 10.28 | 3 | Initiate with hold | Michael Markidis | Desjardins Securities | 11.00 | 7.0% |
| Laramide Resources Ltd | TSX | LAM | 0.55 | 1 | Downgrade to neutral from buy | David A Talbot | Dundee Securities Corp | 0.90 | 63.6% |
Societe Generale upgraded Africa Oil Corp (TSXV: AOI), a Canada-based international oil and gas exploration and development company, to buy from sell increasing its price target to C$9.83 from the earlier target of C$8.46, indicating an upside of 20.8% from current levels. Recently, Tullow Oil plc, discovered oil in Kenya boosting the prospects for turning the economy into an oil exporter. Kenya may become East Africa’s first oil exporter as soon as 2016 as Tullow and its partner AOI continue to explore the Lokichar Basin in the north of country.
Uex Corp (TSX: UEX), a uranium exploration and development company, was upgraded to buy from neutral at Dundee Securities Corp with a price target of C$0.80, indicating an upside of 60% from the current levels. However, Dundee downgraded another Uranium explorer, Laramide Resources Ltd (TSX: LAM), to neutral from buy lowering its price target to C$0.90 from the earlier target of C$2.00, indicating an upside of 63.6% from current levels.
Macquarie upgraded Corridor Resources Inc (TSX: CDH), a junior resource company engaged in the exploration for and development and production of petroleum and natural gas, to outperform from neutral raising its price target to C$2.50 from the earlier target of C$1.00, indicating an upside of 81.2% from current levels.
Desjardins Securities initiated coverage on Melcor Real Estate Investment Trust (TSX: MR-U), an open-ended real estate investment trust, with a hold rating assigning a 12-month price target of C$11.00, indicating an upside of 7% from current levels.
| Company Name | Exchange | Ticker | Last Price |
Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Penn Virginia Corp | NYSE | PVA | 11.88 | 18 | Upgrade to equalweight from underweight | Jeffrey W Robertson | Barclays | 14.00 | 17.8% |
| Rowan Cos Plc | NYSE | RDC | 31.39 | 37 | Upgrade to outperform from market perform | J Marshall Adkins | Raymond James | 35.00 | 11.5% |
| LifePoint Hospitals Inc | NASDAQ | LPNT | 52.20 | 25 | Upgrade to buy from Fairly Valued | Sheryl R Skolnick | CRT Capital Group | 60.00 | 14.9% |
| Seadrill Partners LLC | NYSE | SDLP | 31.32 | 9 | Initiate with outperform | Tj Schultz | RBC Capital Markets | 37.00 | 18.1% |
| US Silica Holdings Inc | NYSE | SLCA | 27.55 | 11 | Downgrade to hold from buy | Brad Handler | Jefferies | 31.00 | 12.5% |
Barclays upgraded Penn Virginia Corp (NYSE: PVA), an independent oil and gas company engaged primarily in the exploration, development and production of oil, natural gas liquids (NGL) and natural gas, to equal-weight from underweight doubling its price target to $14.00, indicating an upside of 17.8% from current levels. Recently, PVA announced the closing of its previously announced sale of substantially all of its Eagle Ford Shale natural gas midstream assets to American Midstream Partners, LP (NYSE:AMID) for cash proceeds of $100 million. PVA intends to use the proceeds of approximately $94 million to help fund its 2014 capital expenditures plan.
Rowan Cos Plc (NYSE: RDC), a provider of international and domestic offshore contract drilling services, was upgraded to outperform from market perform at Raymond James with a price target of $35.00, indicating an upside potential of 11.5% from current levels. The rating firm upgraded the stocks citing that RDC would rank a top of the list of any would-be acquirer given the high spec nature of the fleets.
CRT Capital Group upgraded LifePoint Hospitals Inc (NASDAQ: LPNT), which operates as general acute care hospitals in non-urban communities, to buy from fairly valued rating with a price target of $60.00, indicating an upside potential of 14.9% from current levels. LPNT is scheduled to report its fourth quarter and full year 2013 earnings on February 14, 2014, before the market open.
RBC Capital Markets initiated Seadrill Partners LLC (NYSE: SDLP), engaged in operating and acquiring offshore drilling rigs, with an outperform rating assigning a 12-month price target of $37.00, indicating an upside potential of 18.1% from current levels.
Jefferies downgraded US Silica Holdings Inc (NYSE: SLCA), a domestic producer of commercial silica, to hold from buy lowering its price target to $31.00 from the earlier target of $41.00, indicating an upside of 12.5% from current levels.
