Notable Analyst Upgrades and Downgrades (NYSE: DYN) (TSX: P)

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The following stocks were upgraded/downgraded on July 25, 2014
Company Name Exchange Ticker Last Price Market Cap Recommendation Analyst Name Rating Company Target Price Upside/
Downside (%)
Primero Mining Corp TSX P 8.61 1,374.3 Upgrade to buy from hold Rob Chang Cantor Fitzgerald 9.35 8.6%
TransForce Inc TSX TFI 27.82 2,740.4 Upgrade to outperform from sector perform Cameron Doerksen National Bank Financial 31.00 11.4%
Gildan Activewear Inc TSX GIL 66.36 8,113.5 upgrade to buy from hold Sabahat Khan RBC Capital Markets 74.61 12.4%
Gibson Energy Inc TSX GEI 34.06 4,207.3 Initiate with outperform Robert Hope Macquarie 37.00 8.6%
Agnico Eagle Mines Ltd TSX AEM 45.23 9,465.5 Downgrade to underweight from neutral Patrick Chidley HSBC 36.44 -19.4%

Cantor Fitzgerald upgraded Primero Mining Corp (TSX: P), a precious metals producer with operations in Canada and Mexico, to buy from hold increasing its price target to C$9.35 from C$9.25, indicating an upside of 8.6% from current levels.

TransForce Inc (TSX: TFI), engaged in transportation and logistics services, was upgraded to outperform from sector perform at National Bank Financial increasing its price target to C$31.00 from C$26.00, indicating an upside of 11.4% from current levels.

RBC Capital Markets upgraded Gildan Activewear Inc (TSX: GIL), a marketer and vertically-integrated global manufacturer of basic, non-fashion apparel products for customers, to buy from hold increasing its price target to C$74.61 from C$66.01, indicating an upside of 12.4% from current levels.

Macquarie initiated coverage on Gibson Energy Inc (TSX: GEI), engaged in the transportation, storage, blending, processing, marketing and distribution of crude oil, condensate, NGLs and refined products, with an outperform rating assigning a 12-month price target of C$37.00, indicating an upside of 8.6% from current levels.

HSBC downgraded Agnico Eagle Mines Ltd (TSX: AEM), a Canada-based international gold producer, to underweight from neutral with a price target of C$36.44, indicating a downside of 19.4% from current levels.

The following stocks were upgraded/downgraded on July 25, 2014
Company Name Exchange Ticker Last Price Market Cap Recommendation Analyst Name Rating Company Target Price Upside/
Downside (%)
Dynegy Inc NYSE DYN 26.68 2,677.2 Upgrade to buy/attractive from neutral/attractive Michael J Lapides Goldman Sachs 35.00 31.2%
TriState Capital Holdings Inc NASDAQ TSC 10.19 292.4 Upgrade to outperform from neutral John Moran Macquarie 13.00 27.6%
Heritage Commerce Corp NASDAQ HTBK 8.00 211.0 Upgrade to outperform from market perform Timothy Coffey FIG Partners LLC 9.50 18.8%
Power Solutions International Inc NASDAQ PSIX 66.19 710.1 Initiate with buy Chris McDougall Westlake Securities LLC 88.00 33.0%
Coeur Mining Inc NYSE CDE 8.33 862.4 Downgrade to market perform from outperform Chris Thompson Raymond James 10.00 20.0%

Goldman Sachs upgraded Dynegy Inc (NYSE: DYN), a provider of electricity to markets and customers and also engaged in providing electric energy, capacity and ancillary services, to buy/attractive from neutral/attractive increasing its price target to $35.00 from $33.00, indicating an upside of 31.2% from current levels.

TriState Capital Holdings Inc (NASDAQ: TSC), a bank holding company offering its clients a range of products and services, was upgraded to outperform from neutral at Macquarie with a target price of $13.00, indicating an upside of 27.6% from current levels.

FIG Partners LLC upgraded Heritage Commerce Corp (NASDAQ: HTBK), a bank holding company of Heritage Bank of Commerce (HBC) which offers a range of commercial and personal banking services, to outperform from market perform raising its price target to $9.50 from $9.00, indicating n upside of 18.8% from current levels.

Westlake Securities LLC initiated coverage on Power Solutions International Inc (NASDAQ: PSIX), a global producer and distributor of a ranges of high performance, certified low emission, power systems for original equipment manufacturers of off-highway industrial equipment, with a buy rating assigning a 12-month price target of $88.00, indicating an upside of 33% from current levels.

Raymond James downgraded Coeur Mining Inc (NYSE: CDE), a gold and silver producing company, to market perform from outperform lowering its price target to $10.00 from $13.50, indicating an upside of 20% from current levels.

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