| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Advantage Oil & Gas Ltd | TSX | AAV | 4.41 | 8 | Upgrade to outperform from neutral | Cristina Lopez | Macquarie | 5.75 | 30.4% |
| Ivanhoe Mines Ltd | TSX | IVN | 1.66 | 12 | Initiate with buy | Cliff Hale-Sanders | Cormark Securities Inc. | 3.25 | 95.8% |
| Africa Oil Corp | TSXV | AOI | 8.98 | 24 | Initiate with strong buy | Carl Christian Bachke | Nordea Equity Research | 14.81 | 64.9% |
| Solium Capital Inc | TSX | SUM | 7.80 | 5 | Initiate with buy | Steven Kraft | M Partners Inc | 9.75 | 25.0% |
| Silver Standard Resources Inc | TSX | SSO | 11.75 | 12 | Downgrade to sector underperform from sector perform | Trevor Turnbull | Scotia Capital | 8.88 | -24.4% |
Macquarie upgraded Advantage Oil & Gas Ltd (TSX: AAV), an intermediate oil and natural gas exploration and production company, to outperform from neutral increasing its price target to C$5.75 from C$4.50, indicating an upside of 30.4% from current levels. Recently, AAV reported strong year end 2013 reserve additions for its Montney resource property at Glacier, Alberta. Proven plus probable (“2P”) reserves were up 20% to 1.7 trillion cubic feet (“Tcfe”) at a finding and development cost of $1.33/mcfe ($7.99/boe) and a recycle ratio of 2.1. The company also reported that the production at Glacier reached the 135 mmcfe/d Phase VI target ahead of schedule with capital spending below budget.
Cormark Securities Inc. initiated coverage on Ivanhoe Mines Ltd (TSX: IVN), a mineral exploration and development company, with a buy rating assigning a 12-month price target of C$3.25, indicating an upside of 95.8% from current levels.
Coverage on Africa Oil Corp (TSXV: AOI), a Canada-based international oil and gas exploration and development company, was initiated with a strong buy at Nordea Equity Research with a price target of C$14.81, indicating an upside of 64.9% from current levels.
Analyst Steven Kraft at M Partners Inc initiated coverage on Solium Capital Inc (TSX: SUM), a software-as-a-service company, with a buy rating assigning a 12-month price target of C$9.75, indicating an upside of 25% from current levels.
Scotia Capital downgraded Silver Standard Resources Inc (TSX: SSO), a silver resource company, to sector underperform from sector perform with a price target of C$8.88, indicating a downside of 24.4% from current levels.
| Company Name | Exchange | Ticker | Last Price |
Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Knightsbridge Tankers Ltd | NASDAQ | VLCCF | 12.80 | 8 | Upgrade to buy from neutral | Omar M Nokta | Global Hunter Securities | 16.00 | 25.0% |
| PowerSecure International Inc | NYSE | POWR | 25.28 | 6 | Upgrade to buy from hold | William D Bremer | Maxim Group LLC | 30.00 | 18.7% |
| Hercules Technology Growth Capital Inc | NYSE | HTGC | 14.51 | 16 | upgrade to outperform from market perform | Greg Mason | Keefe, Bruyette & Woods | 17.00 | 17.2% |
| Mellanox Technologies Ltd | NASDAQ | MLNX | 37.39 | 16 | Initiate with buy | Sanjay Chaurasia | Nomura | 48.00 | 28.4% |
| FreightCar America Inc | NASDAQ | RAIL | 24.21 | 8 | downgrade to equalweight from overweight | Justin Long | Stephens Inc | 27.00 | 11.5% |
Global Hunter Securities upgraded Knightsbridge Tankers Ltd (NASDAQ: VLCCF), engaged in the seaborne transportation of crude oil and dry bulk cargoes, to buy from neutral with a price target of $16.00, indicating an upside of 25% from current levels. Recently, VLCCF announced that it would buy five fuel efficient 180,000 DWT Capesize bulk carrier newbuildings from Frontline 2012 and one Capesize bulk carrier from Karpasia Shipping Inc for a total consideration of $360 million. The rating firm notes that the buying move fits with company’s strategic plan to take advantage in dry-bulk shipping and the new vessels should help it in capitalizing well.
PowerSecure International Inc (NYSE: POWR), a provider of products and services to electric utilities and to their commercial, institutional and industrial customers, was upgraded to buy from hold at Maxim Group LLC with a price target of $30.00, indicating an upside of 18.7% from current levels. The rating firm cites the company’s record backlog, its pipeline of opportunities and expectations for margins to act as strong growth catalysts in 2014-15.
Keefe, Bruyette & Woods upgraded Hercules Technology Growth Capital Inc (NYSE: HTGC), an internally managed, non-diversified closed-end investment company, to outperform from market perform with a price target of $17.00, indicating an upside of 17.2% from current levels.
Nomura initiated coverage on Mellanox Technologies Ltd (NASDAQ: MLNX), a fabless semiconductor company that produces and supplies high-performance interconnects products, with a buy rating assigning a 12-month price target of $48.00, indicating an upside of 28.4% from current levels.
Stephens Inc downgraded FreightCar America Inc (NASDAQ: RAIL), engaged in the manufacture of aluminum-bodied railcars, to equal-weight from overweight with a price target of $27.00, indicating an upside of 11.5% from current levels.
