| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Argent Energy Trust | TSX | AET-U | 2.66 | 6 | Upgrade to hold from reduce | Aaron Bilkoski | TD Securities | 3.75 | 41.0% |
| Essential Energy Services Ltd | TSX | ESN | 2.53 | 10 | Upgrade to outperform from market perform | Andrew Bradford | Raymond James | 3.00 | 18.6% |
| Progressive Waste Solutions Ltd | TSX | BIN | 26.86 | 18 | Upgrade to outperform from neutral | Al Kaschalk | Wedbush | 32.60 | 21.4% |
| Grenville Strategic Royalty Corp | TSXV | GRC | 0.51 | 1 | Initiate with outperform | Trevor Johnson | National Bank Financial | 0.85 | 66.7% |
| Temple Hotels Inc | TSX | TPH | 5.66 | 5 | Downgrade to sector perform from outperform | Trevor Johnson | National Bank Financial | 6.25 | 10.4% |
TD Securities upgraded Argent Energy Trust (TSX: AET-U), a Canada-based open-ended trust focused on acquiring, exploiting and developing long-life crude oil and natural gas reserves in basins, to hold from reduce with a price target of C$3.75, indicating an upside of 41% from current levels. Recently, AET-U declared cash distribution of C$0.02 per trust unit for the month of May payable on June 23, 2014 to the unit holders of record on May 30, 2014.
Essential Energy Services Ltd (TSX: ESN), a diversified technology and financial services company, was upgraded to outperform from market perform at Raymond James with a price target of C$3.00, indicating an upside of 18.6% from current levels. ESN declared a quarterly dividend of C$0.03 payable on July 15, 2014 to the share holders of record on June 30, 2014.
Wedbush upgraded Progressive Waste Solutions Ltd (TSX: BIN), a waste management company that provides non-hazardous solid waste collection and disposal services to commercial, industrial, municipal and residential customers, to outperform from neutral increasing its price target to C$32.60 from C$28.35, indicating an upside of 21.4% from current levels.
National Bank Financial initiated coverage on Grenville Strategic Royalty Corp (TSXV: GRC), engaged in providing investment exposure in the supply chains, technologies, commodity resources and financial structures markets, with an outperform rating assigning a 12-month price target of C$0.85, indicating an upside of 66.7% from current levels.
However, the bank downgraded Temple Hotels Inc (TSX: TPH), engaged in investing directly or indirectly, in the ownership and operation of hotel properties, businesses and assets, to sector perform from outperform lowering its price target to C$6.25 from C$6.50, indicating an upside of 10.4% from current levels.
| Company Name | Exchange | Ticker | Last Price |
Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Matson Inc | NYSE | MATX | 24.30 | 8 | Upgrade to outperform from market perform | John R Mims | FBR Capital Markets | 30.00 | 23.5% |
| Legacy Reserves LP | NASDAQ | LGCY | 28.07 | 13 | Upgrade to buy from neutral | Shneur Z Gershuni | UBS | 31.00 | 10.4% |
| Seaspan Corp | NYSE | SSW | 21.68 | 13 | Upgrade to overweight from equalweight | Brandon Oglenski | Barclays | 30.00 | 38.4% |
| China Mobile Games & Entertainment Group Ltd | NASDAQ | CMGE | 20.24 | 5 | Initiate with buy | Chao Wang | Nomura | 32.00 | 58.1% |
| Alliant Techsystems Inc | NYSE | ATK | 131.63 | 15 | Downgrade to neutral/attractive from buy/attractive | Noah Poponak | Goldman Sachs | 146.00 | 10.9% |
FBR Capital Markets upgraded Matson Inc (NYSE: MATX), engaged in transportation and logistics offering multimodal transportation services to the North American market, was upgraded to outperform from market perform increasing its price target to $30.00 from $28.00, indicating an upside of 23.5% from current levels. The rating firm notes that MATX’s strong market dominance and a long term runway for volume growth in its core Jones Act container trade is believed to be an absolute game-changing margin catalyst with the launch of new vessels this year.
Legacy Reserves LP (NASDAQ: LGCY), an independent oil and natural gas limited partnership focused on the acquisition and development of oil and natural gas properties, was upgraded to buy from neutral at UBS increasing its price target to $31.00 from $27.00, indicating an upside of 10.4% from current levels. The rating firm upgraded the stock after LGCY entered into an alliance with WPX Energy (NYSE:WPX) to acquire certain working interest in WPX’s Piceance Basin wells for $355 million.
Barclays upgraded Seaspan Corp (NYSE: SSW), engaged in operating a fleet of containerships with ships being chartered to customers on a long-term fixed-rate basis, to overweight from equal-weight raising its price target to $30.00 from $25.00, indicating an upside of 38.4% from current levels.
Nomura initiated coverage on China Mobile Games & Entertainment Group Ltd (NASDAQ: CMGE), engaged in the development, operation and sale of feature phone and smart-phone games, with a buy rating assigning a 12-month price target of $32.00, indicating an upside of 58.1% from current levels. The rating firm initiated the stock on back of better-than-expected Q1 results and notes that CMGE’s data mining abilities, extensive pre-installation network, and operation and game development experience helps differentiate it among its peers.
Goldman Sachs downgraded Alliant Techsystems Inc (NYSE: ATK), an aerospace, defense, and commercial products company, to neutral/attractive from buy/attractive lowering its price target to $146.00 from C$178.00, indicating an upside of 10.9% from current levels.
