Notable Analyst Upgrades and Downgrades (NASDAQ: MRCC) (TSX: DOL)

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The following stocks were upgraded/downgraded on June 30, 2014
Company Name Exchange Ticker Last Price Total Analyst Coverage Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
Dollarama Inc TSX DOL 87.85 5,883.8 Upgrade to buy from hold Neil Linsdell Industrial Alliance Securities 95.00 8.1%
Excelsior Mining Corp TSXV MIN 0.25 15.1 Initiate with buy Joseph Gallucci Dundee Securities Corp 1.00 308.2%
Polymet Mining Corp TSX POM 1.17 322.4 Initiate with buy John Meyer SP Angel 2.43 107.7%
Amaya Gaming Group Inc TSX AYA 23.11 2,178.2 Downgrade to hold from buy Neil Linsdell Industrial Alliance Securities 23.00 -0.5%

Industrial Alliance Securities upgraded Dollarama Inc (TSX: DOL), a provider of general merchandise through discount retail stores, to buy from hold with a price target of C$95.00, indicating an upside of 8.1% from current levels.

Dundee Securities Corp initiated coverage on Excelsior Mining Corp (TSXV: MIN), an exploration company with a copper project, with a buy rating assigning a 12-month price target of C$1.00, indicating an upside of 308.2% from current levels.

Coverage on Polymet Mining Corp (TSX: POM), a development-stage company engaged in the exploration and development of natural resource properties, was initiated with a buy rating at SP Angel with a 12-month price target of C$2.43, indicating an upside of 107.7% from current levels.

Industrial Alliance Securities downgraded Amaya Gaming Group Inc (TSX: AYA), a designer, developer, manufacturer and distributor of products for the gambling industry, to hold from buy with a price target of C$23.00, indicating a downside of 0.5% from current levels.

The following stocks were upgraded/downgraded on June 30, 2014
Company Name Exchange Ticker Last Price Total Analyst
Coverage
Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
Monroe Capital Corp NASDAQ MRCC 13.50 129.2 upgrade to buy from hold Andrew Kerai National Securities 15.00 11.1%
WebMD Health Corp NASDAQ WBMD 49.85 1,931.4 Upgrade to buy from hold Steve Rubis Stifel 60.00 20.4%
TechTarget Inc NASDAQ TTGT 8.84 288.8 Initiate with buy Brian J Pitz Jefferies 12.00 35.7%
Garrison Capital Inc NASDAQ GARS 15.30 256.4 Initiate with buy Merrill Ross Wunderlich Securities 17.00 11.1%
Independent Bank Corp NASDAQ IBCP 12.76 292.5 Downgrade to market perform Damon Del Monte Keefe, Bruyette & Woods 14.00 9.7%

National Securities upgraded Monroe Capital Corp (NASDAQ: MRCC), an externally managed, closed-end, non-diversified management investment company, to buy from hold increasing its price target to $15.00 from $14.00, indicating an upside of 11.1% from current levels.

WebMD Health Corp (NASDAQ: WBMD), a provider of health information services to consumers, physicians, healthcare professionals, employers, and health plans, was upgraded to buy from hold at Stifel with a price target of $60.00, indicating an upside of 20.4% from current levels.

Jefferies initiated coverage on TechTarget Inc (NASDAQ: TTGT), a provider of specialized online content and brand advertising that brings together buyers and sellers of corporate information technology (IT) products, with a buy rating assigning a 12-month price target of $12.00, indicating an upside of 35.7% from current levels.

Coverage on Garrison Capital Inc (NASDAQ: GARS), an externally managed, non-diversified, closed-end management investment company, was initiated with a buy rating at Wunderlich Securities with a 12-nmonth price target of $17.00, indicating an upside of 11.1% from current levels.

Keefe, Bruyette & Woods downgraded Independent Bank Corp/MI (NASDAQ: IBCP), a commercial bank holding company that attract deposits and offer a variety of loans and financial services, to market perform with a price target of $14.00, indicating an upside of 9.7% from current levels.

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