Notable Analyst Upgrades and Downgrades (NYSE: ITG) (TSX: NWH-U)

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The following stocks were upgraded/downgraded on July 10, 2014
Company Name Exchange Ticker Last Price Total Analyst Coverage Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
NorthWest Healthcare Properties REIT TSX NWH-U 9.93 385.7 Upgrade to buy from hold Jimmy Khing Shan GMP 11.25 13.3%
KWG Resources Inc TSXV KWG 0.06 46.7 Initiate with speculative buy Jay Turner Pope & Co Limited 0.20 233.3%
Reservoir Minerals Inc TSXV RMC 6.25 287.2 Initiate with buy David Davidson Paradigm Capital Inc 9.50 52.0%
FirstService Corp/Canada TSX FSV 54.87 1,971.1 Initiate with outperform Anthony Jin RBC Capital Markets 62.89 14.6%
Eldorado Gold Corp TSX ELD 8.06 5,773.0 Downgrade to hold from buy Tony Lesiak Canaccord Genuity Corp 9.00 11.7%

GMP upgraded NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH-U), an open-ended real estate investment trust with its activities in the healthcare sector, to buy from hold with a price target of C$11.25, indicating an upside of 13.3% from current levels.

Pope & Co Limited initiated coverage on KWG Resources Inc (TSXV: KWG), engaged in the exploration and evaluation of base and precious metals, with a speculative buy assigning a 12-month price target of C$0.20, indicating an upside of 533.3% from current levels.

Coverage on Reservoir Minerals Inc (TSXV: RMC), an international mineral exploration and development company with a portfolio of precious and base metal exploration properties, was initiated with a buy rating at Paradigm Capital Inc with a price target of C$9.50, indicating an upside of 52% from current levels.

Analyst Anthony Jin at RBC Capital Markets initiated coverage in FirstService Corp (TSX: FSV), a provider of real estate-related services to the commercial, institutional and residential markets, with an outperform rating assigning a 12-month price target of C$62.89, indicating an upside of 14.6% from current levels.

Canaccord Genuity Corp downgraded Eldorado Gold Corp (TSX: ELD), a gold exploration, development, mining and production company, to hold from buy with a price target of C$9.00, indicating an upside of 11.7% from current levels.

The following stocks were upgraded/downgraded on July 10, 2014
Company Name Exchange Ticker Last Price Total Analyst
Coverage
Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
Investment Technology Group Inc NYSE ITG 16.99 611.6 Upgrade to outperform from market perform Niamh Alexander Keefe, Bruyette & Woods 22.00 29.5%
ChannelAdvisor Corp NYSE ECOM 23.16 569.2 Upgrade to buy from hold Karl Keirstead Deutsche Bank 32.00 38.2%
Prothena Corp PLC NASDAQ PRTA 20.94 558.2 Initiate with outperform Christopher Marai Oppenheimer & Co 40.00 91.0%
Ring Energy Inc NYSE REI 18.30 432.7 Initiate with buy Patrick Rigamer Global Hunter Securities 24.00 31.1%
Lumber Liquidators Holdings Inc NYSE LL 55.25 1,515.4 Downgrade to neutral from outperform Gary Balter Credit Suisse 65.00 17.6%

Keefe, Bruyette & Woods upgraded Investment Technology Group Inc (NYSE: ITG), an independent execution and research broker that partners with global portfolio managers and traders to provide data-driven insights throughout the investment process, to outperform from market perform increasing its price target to $22.00 from $21.00, indicating an upside of 29.5% from current levels.

ChannelAdvisor Corp (NYSE: ECOM), a provider of software-as-a-service, or SaaS, solutions that enables retailers and manufacturer customers to integrate, manage and optimize their merchandise sales, was upgraded to buy from hold at Deutsche Bank with a price target of $32.00, indicating an upside of 38.2% from current levels.

Oppenheimer & Co initiated coverage on Prothena Corp PLC (NASDAQ: PRTA), an Ireland-based, clinical-stage biotechnology company engaged in discovering and developing monoclonal antibodies that are directed towards misfolded proteins or improper cell adhesion, with an outperform rating assigning a 12-month price target of $40.00, indicating an upside of 91% from current levels.

Coverage on Ring Energy Inc (NYSE: REI), an independent oil and gas exploration company, was initiated with a buy rating at Global Hunter Securities with a 12-month price target of $24.00, indicating an upside of 31.1% from current levels.

Credit Suisse downgraded Lumber Liquidators Holdings Inc (NYSE: LL), a retailer of hardwood flooring, and hardwood flooring enhancements and accessories, to neutral from outperform lowering its price target to $65.00 from $100, indicating an upside of 17.6% from current levels.

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