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 (%) |
|---|---|---|---|---|---|---|---|---|---|
| Western Energy Services Corp | TSX | WRG | 10.00 | 747.8 | Upgrade to outperform from market perform | Kevin Lo | FirstEnergy Capital Corp | 12.50 | 25.0% |
| Canyon Services Group Inc | TSX | FRC | 16.07 | 1,100.8 | Upgrade to outperform from market perform | Kevin Lo | FirstEnergy Capital Corp | 19.00 | 18.2% |
| Contact Exploration Inc | TSXV | CEX | 0.46 | 131.0 | Initiate with buy | Geoff Ready | Dundee Securities Corp | 0.80 | 73.9% |
| Cardinal Energy Ltd | TSX | CJ | 20.24 | 943.3 | Initiate with sector outperform | Patrick Bryden | Scotia Capital | 22.50 | 11.2% |
| Ensign Energy Services Inc | TSX | ESI | 16.42 | 2,518.0 | Downgrade to underperform from market perform | Kevin Lo | FirstEnergy Capital Corp | 17.50 | 6.6% |
FirstEnergy Capital Corp made the following upgrades and downgrades yesterday.
- Western Energy Services Corp (TSX: WRG), a Canada-based oilfield service company, providing contract drilling services through its wholly owned subsidiaries Horizon Drilling Inc, was upgraded to outperform from market perform with a price target of C$12.50, indicating an upside of 25% from current levels.
- Canyon Services Group Inc (TSX: FRC), engaged in providing oilfield stimulation services to exploring for and producing (E&P) companies, was upgraded to outperform from market perform with a price target of C$19.00, indicating an upside of 18.2% from current levels.
- Ensign Energy Services Inc (TSX: ESI), engaged in providing oilfield services to the crude oil and natural gas industry, was downgraded to underperform from market perform with a price target of C$17.50, indicating an upside of 6.6% from current levels.
Dundee Securities Corp initiated coverage on Contact Exploration Inc (TSXV: CEX), engaged in the exploration for and production of petroleum and natural gas, with a buy rating assigning a 12-month price target of C$0.80, indicting an upside of 73.9% from current levels.
Coverage on Cardinal Energy Ltd (TSX: CJ), a junior oil exploring company, was initiated with sector outperform at Scotia Capital, with a 12-month price target of C$22.50, indicating an upside of 11.2% from current levels.
| Company Name | Exchange | Ticker | Last Price | Market Cap | Recommendation | Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Silver Bay Realty Trust Corp | NYSE | SBY | 16.37 | 629.8 | Upgrade to overweight from neutral | Anthony Paolone | JPMorgan | 18.00 | 10.0% |
| Texas Roadhouse Inc | NASDAQ | TXRH | 26.65 | 1,852.7 | Upgrade to overweight from equalweight | Will Slabaugh | Stephens Inc | 32.00 | 20.1% |
| CBOE Holdings Inc | NASDAQ | CBOE | 53.05 | 4,520.4 | Upgrade to outperform from market perform | Patrick O’Shaughnessy | Raymond James | 60.00 | 13.1% |
| Enphase Energy Inc | NASDAQ | ENPH | 13.75 | 590.5 | Initiate with buy | Edwin Mok | Needham & Co | 20.00 | 45.5% |
| Regado Biosciences Inc | NASDAQ | RGDO | 1.13 | 38.0 | Downgrade to hold from buy | Robyn Karnauskas | Deutsche Bank | 2.00 | 77.0% |
JPMorgan upgraded Silver Bay Realty Trust Corp (NYSE: SBY), focused on the acquisition, renovation, leasing and management of single-family properties, to overweight from neutral increasing its price target to $18.00 from $17.00, indicating an upside of 10% from current levels.
Texas Roadhouse Inc (NASDAQ: TXRH), a full-service restaurant chain offering an assortment of specially seasoned and aged steaks hand-cut daily on the premises and cooked to orders over open gas-fired grills, was upgraded to overweight from equal-weight at Stephens Inc raising its price target to $32.00 from $28.00, indicating an upside of 20.1% from current levels.
CBOE Holdings Inc (NASDAQ: CBOE), is the holding company with operation of markets for the trading of listed, or exchange-traded, options contracts, was upgraded to outperform from market perform by Raymond James with price target of $60.00, indicating an upside of 13.1% from current levels.
Needham & Co initiated coverage on Enphase Energy Inc (NASDAQ: ENPH), engaged in designing, developing and selling microinverter systems for the solar photovoltaic industry, with a buy rating assigning a price target of $20.00, indicating an upside of 45.5% from current levels.
Deutsche Bank downgraded Regado Biosciences Inc (NASDAQ: RGDO), a biopharmaceutical company which focuses on the discovery and development of actively controllable antithrombotic drug systems, to hold from buy with a price target of $2.00, indicating an upside of 77% from current levels.
