A Canadian gold project developer and a U.S. bank holding company both received analyst upgrades, one of which has an implied upside of nearly 50%.
| Company Name | Exchange | Ticker | Last Price | Market Cap | Recommendation | Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Caribbean Utilities Co Ltd | TSX | CUP/U | 10.42 | 303.8 | Upgrade to market perform from underperform | Benjamin Pham | BMO Capital Markets | 9.58 | -8.1% |
| Lake Shore Gold Corp | TSX | LSG | 1.23 | 519.3 | Initiate with buy | Philip Ker | PI Financial Corp. | 1.50 | 22.0% |
| Polymet Mining Corp | TSX | POM | 1.27 | 350.1 | Initiate with buy | Joseph Reagor | Roth Capital Partners | 2.47 | 94.5% |
| Espial Group Inc | TSX | ESP | 3.06 | 71.2 | Initiate with buy | Massimo Voci | Haywood Securities Inc. | 4.25 | 38.9% |
| Luna Gold Corp | TSX | LGC | 0.98 | 119.5 | Downgrade to underperform from outperform | Rahul Paul | Canaccord Genuity Corp | 0.75 | -23.5% |
BMO Capital Markets upgraded Caribbean Utilities Co Ltd (TSX: CUP/U), engaged in the generation, transmission and distribution of electricity, to market perform from underperform increasing its price target to C$9.58 from C$9.16, indicating a downside of 8.1% from current levels.
PI Financial Corp. initiated coverage on Lake Shore Gold Corp (TSX: LSG), a gold mining company engaged in the operation, exploration and development, with a buy rating assigning a 12-month price target of C$1.50, indicating an upside of 22% from current levels.
Roth Capital Partners initiated coverage on Polymet Mining Corp (TSS: POM), a development-stage company engaged in the exploration and development of natural resource properties, with a buy rating assigning a 12-months price target of C$2.47, indicating an upside of 94.5% from current levels.
Coverage on Espial Group Inc (TSX: ESP), a Canada-based developer and marketer of software solutions that enable the delivery of Internet protocol television (IPTV), was initiated with a buy rating at Haywood Securities Inc. assigning a 12-month price target of C$4.25, indicating an upside of 38.9% from current levels.
Canaccord Genuity Corp downgraded Luna Gold Corp (TSX: LGC), engaged in the business of mineral exploration, mine development and is engaged in the operation, acquisition, exploration, development and of gold properties, to underperform from outperform lowering its price target to C$0.75 from C$1.50, indicating a downside of 23.5% from current levels.
| Company Name | Exchange | Ticker | Last Price | Market Cap | Recommendation | Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| MYR Group Inc | NASDAQ | MYRG | 25.44 | 542.1 | Upgrade to outperform from neutral | Andrew J Wittmann | Robert W. Baird & Co | 30.00 | 17.9% |
| Armada Hoffler Properties Inc | NYSE | AHH | 9.69 | 186.7 | Upgrade to buy from hold | John W Guinee | Stifel | 11.00 | 13.5% |
| Mercer International Inc | NASDAQ | MERC | 10.38 | 667.2 | Upgrade to outperform from sector perform | Paul Quinn | RBC Capital Markets | 14.00 | 34.9% |
| CTC Media Inc | NASDAQ | CTCM | 9.69 | 1,509.3 | Initiate with hold | Mitch Mitchell | BCS | 10.00 | 3.2% |
| Bristow Group Inc | NYSE | BRS | 73.25 | 2,605.0 | Downgrade to neutral from outperform | Gregory Lewis | Credit Suisse | 75.00 | 2.4% |
Robert W. Baird & Co upgraded MYR Group Inc (NASDAQ: MYRG), a specialty contractor serving the electrical infrastructure market in the U.S., to outperform from neutral increasing its price target to $30.00 from $27.00, indicating an upside of 17.9% from current levels.
Armada Hoffler Properties Inc (NYSE: AHH), engaged in developing, building, owning and managing office, retail and multifamily properties, was upgraded to buy from hold at Stifel with a 12-month price target of $11.00, indicating an upside of 13.5% from current levels.
RBC Capital Markets upgraded Mercer International Inc (NASDAQ: MERC), operating in the pulp business and is the producer of market northern bleached softwood kraft (NBSK) pulp, to outperform from sector perform raising its price target to $14.00 from $10.00, indicating an upside of 34.9% from current levels.
BCS initiated coverage on CTC Media Inc (NASDAQ: CTCM), engaged in operating three Russian television networks CTC, Domashny and Peretz. CTC network offers entertainment programming, with a hold rating assigning a 12-month price target of 3.2% from current levels.
Credit Suisse downgraded Bristow Group Inc (NYSE: BRS), a provider of helicopter services to the worldwide offshore energy industry, to neutral from outperform lowering its price target to $75.00 from $95.00, indicating an upside of 2.4% from current levels.
