Notable Analyst Upgrades and Downgrades (NYSE: VAL) (TSX: AET-U)

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The following stocks were upgraded/downgraded on January 09, 2014
Company Name Exchange Ticker Last Price Total Analyst Coverage Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
Argent Energy Trust TSX AET-U 7.88 8 Initiate with market perform Gordon Tait BMO Capital Markets 9.00 14.2%
Kinross Gold Corp TSX K 4.80 26 Downgrade to hold from buy Greg Barnes TD Securities 5.97 24.4%
New Gold Inc TSX NGD 5.49 18 Downgrade to buy from top pick Michael Parkin Desjardins Securities 7.00 27.5%
Agnico Eagle Mines Ltd TSX AEM 28.22 27 Downgrade to market perform from buy Richard Gray Cormark Securities Inc. 30.00 6.3%

BMO Capital Markets initiated coverage on Argent Energy Trust (TSX: AET-U), a Canada-based open-ended trust focused on acquiring, exploiting and developing long-life crude oil and natural gas reserves, with market perform rating assigning a 12-month price target of C$9.00, indicating an upside of 14.2% from current levels.

TD Securities downgraded Kinross Gold Corp (TSX: K), engaged in gold mining and related activities, to hold from buy lowering its price target to C$5.97 from the earlier target of $6.80, indicating an upside of 24.4% from current levels.

New Gold Inc (TSX: NGD), engaged in gold mining and related activities, was downgraded to buy from top pick at Desjardins Securities with a price target of C$7.00 from C$8.75, indicating an upside of 27.5% from current levels.

Cormark Securities Inc. downgraded Agnico Eagle Mines Ltd (TSX: AEM), a Canada-based international gold producer with mining operations, to market perform from buy lowering its price target to C$30.00 from the earlier target of C$41.00, indicating an upside of 6.3% from current levels.

The following stocks were upgraded/downgraded on January 09, 2014
Company Name Exchange Ticker Last Price Total Analyst
Coverage
Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
Valspar Corp/The NYSE VAL 72.28 17 Upgrade to outperform from neutral Ghansham Panjabi Robert W. Baird & Co 80.00 10.7%
Sensient Technologies Corp NYSE SXT 49.09 5 Upgrade to buy from hold Michael J Sison KeyBanc Capital Markets 56.00 14.1%
Oil States International Inc NYSE OIS 101.09 19 Upgrade to sector outperform from sector perform Blake A Hutchinson Howard Weil Inc 125.00 23.7%
West Corp NASDAQ WSTC 24.86 13 Initiate with outperform Gary E Bisbee RBC Capital Markets 31.00 24.7%
Coeur Mining Inc NYSE CDE 10.62 10 Downgrade to market perform from buy Graeme Jennings Cormark Securities Inc. 12.21 15.0%

Robert W. Baird & Co upgraded The Valspar Corp (NYSE: VAL), a global coating and paint manufacturer and distributor, to outperform from neutral increasing its price target to $80.00 from the earlier target of $75.00, indicating an upside of 10.7% from current levels.

Sensient Technologies Corp (NYSE: SXT), a global manufacturer and marketer of colors, flavors and fragrances, was upgraded to buy from hold at KeyBanc Capital Markets with a price target of $56.00, indicating an upside of 14.1% from current levels.

Howard Weil Inc upgraded Oil States International Inc (NYSE: OIS), a provider of specialty products and services to natural resources companies, to sector outperform from sector perform raising its price target to $125.00 from $103.00, indicating an upside of 23.7% from current levels.

RBC Capital Markets initiated coverage on West Corp (NASDAQ: WSTC), a provider of technology-driven communication services, with an outperform rating assigning a 12-month price target of $31.00, indicating an upside of 24.7% from current levels.

Cormark Securities Inc. downgraded Coeur Mining Inc (NYSE: CDE), a gold and silver producing company, to market perform from buy lowering its price target to $12.21 from the earlier target of $18.07, indicating an upside of 15% from current levels.

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