| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Elgin Mining Inc | TSX | ELG | 0.26 | 4 | Upgrade to buy from hold | Don Blyth | Paradigm Capital Inc | 0.45 | 76.5% |
| Martinrea International Inc | TSX | MRE | 9.97 | 7 | Upgrade to outperform from sector perform | Steven Arthur | RBC Capital Markets | 15.00 | 50.5% |
| Pershimco Resources Inc | TSXV | PRO | 0.33 | 4 | Initiate with buy | Oliver Turner | GMP | 0.70 | 112.1% |
| Madalena Energy Inc | TSXV | MVN | 0.68 | 7 | Initiate with buy | Kuno Ryckborst | Beacon Securities Ltd | 1.00 | 47.1% |
| BlackBerry Ltd | TSX | BB | 8.95 | 40 | Downgrade to underperform from neutral | Kulbinder Garcha | Credit Suisse | 6.62 | -26.0% |
Paradigm Capital Inc upgraded Elgin Mining Inc (TSX: ELG), a Canada-based company engaged in the acquisition, exploration and development of gold projects, to buy from hold raising its price target to C$0.45 from C$0.40, indicating an upside of 76.5% from current levels.
Martinrea International Inc (TSX: MRE), a Canada-based company engaged in the production and development of quality metal parts, assemblies and modules, fluid management systems and complex aluminum products, was upgraded to outperform from sector perform at RBC Capital Markets increasing its price target to C$15.00 from C$12.00, indicating an upside of 50.5% from current levels.
GMP initiated coverage on Pershimco Resources Inc (TSXV: PRO), a mineral exploration and development company, with a buy rating assigning a 12-month price target of C$0.70, indicating an upside of 112.1% from current levels.
Coverage on Madalena Energy Inc (TSXV: MVN), an international upstream oil and gas company, was initiated with a buy rating at Beacon Securities Ltd with a 12-month price target of C$1.00, indicating an upside of 47.1% from current levels. The rating firm notes that the company is on its way to unlocking value from its unconventional shale and tight sand assets in the Neuquen Basin of Argentina. Further, it adds that near term production and cash flow growth will be driven by the implementation of the company’s horizontal technology on multiple horizontal plays, including a high impact play in Argentina within the Sierras Blancas light oil zone, which is sourced out of the Vaca Muerta shale.
Credit Suisse downgraded BlackBerry Ltd (TSX: BB), a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market, to underperform from neutral lowering its price target to C$6.62 from C$7.46, indicating a downside of 26% from current levels.
| Company Name | Exchange | Ticker | Last Price |
Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Rubicon Technology Inc | NASDAQ | RBCN | 11.29 | 10 | Upgrade to overweight from neutral | Paul T Coster | JPMorgan | 14.00 | 24.0% |
| Pacira Pharmaceuticals Inc/DE | NASDAQ | PCRX | 69.99 | 7 | Upgrade to overweight from neutral | David Amsellem | Piper Jaffray | 84.00 | 20.0% |
| PennyMac Financial Services Inc | NYSE | PFSI | 16.64 | 8 | Upgrade to buy from hold | Daniel Furtado | Jefferies | 20.00 | 20.2% |
| KapStone Paper and Packaging Corp | NYSE | KS | 28.84 | 7 | Initiate with overweight | Scott L Gaffner | Barclays | 35.00 | 21.4% |
| Magnachip Semiconductor Corp | NYSE | MX | 13.94 | 7 | Downgrade to sell from neutral | Nicolas Gaudois | UBS | 12.00 | -13.9% |
JPMorgan upgraded Rubicon Technology Inc (NASDAQ: RBCN), engaged in manufacturing synthetic electronic materials for opto-electronic, semiconductor fabrication, telecommunications, and optical & laser applications, to overweight from neutral increasing its price target to $14.00 from $12.00, indicating an upside of 24% from current levels.
Pacira Pharmaceuticals Inc/DE (NASDAQ: PCRX), a U.S based pharmaceutical company engaged in developing non-opioid products for postsurgical pain control, was upgraded to overweight from neutral at Piper Jaffray raising its price target to $84.00 from $75.00, indicating an upside of 20% from current levels. Recently, PCRX reported that the FDA has approved its product EXPARELL, a bupivacaine injectable liposome suspension. The approval of EXPAREL for Suite C manufacturing suite marks another milestone for the company as the expansion of manufacturing capacity will allow it to meet its growing demand in the industry.
Jefferies upgraded PennyMac Financial Services Inc (NYSE: PFSI), a specialty financial services firm with a mortgage platform and integrated business focused on the production and servicing residential mortgage loans and the management of investments residential mortgage market, to buy from hold increasing its price target to $20.00 from $19.00, indicating an upside of 20.2% from current levels.
Barclays initiated coverage on KapStone Paper and Packaging Corp (NYSE: KS), an integrated manufacturer and seller of unbleached kraft paper and corrugated products for industrial and consumer markets, with an overweight rating assigning a 12-month price target of $35.00, indicating an upside of 21.4% from current levels.
UBS downgraded Magnachip Semiconductor Corp (NYSE: MX), a designer and manufacturer of analog and mixed-signal semiconductor products for consumer applications, to sell from neutral lowering its price target to $12.00 from $17.00, indicating a downside of 13.9% from current levels.
