Notable Analyst Upgrades and Downgrades (NYSE: TRN) (TSX: TCW)

FirstEnergy Capital Corp upgraded Trican Well Service Ltd (TSX: TCW), an oilfield services company providing an array of specialized products, equipment, services and technology for use in the drilling, completion, stimulation and reworking of oil and gas wells, to market perform from underperform with a price target of C$13.00, indicating an upside of 2% from current levels.

Agnico Eagle Mines Ltd (TSX: AEM), a Canada-based international gold producer, was upgraded to buy from neutral at UBS raising its price target to C$33.90 from C$29.76, indicating an upside of 7.8% from current levels.

Canaccord Genuity Corp upgraded New Flyer Industries Inc (TSX: NFI), a manufacturer of heavy-duty transit buses, to buy from hold increasing its price target to C$12.00 from C$11.25, indicating an upside of 12% from current levels. Recently, NFI declared a dividend of C$0.04875 per share payable on February 17th 2014 to holders of record at the close of business on January 31st 2014.

Cormark Securities Inc. initiated coverage on CanElson Drilling Inc (TSX: CDI), a Canada-based company engaged in operating land-based contract drilling rigs, with a buy rating assigning a 12-month price target of C$9.00, indicating an upside of 40.8% from current levels.

However, Cormark downgraded Pinecrest Energy Inc (TSXV: PRY), a Canada-based junior oil and gas exploration company, to market perform from buy lowering its price target to C$0.30 from the earlier target of C$0.75, indicating an upside of 46.3% from current levels.

Stifel upgraded Trinity Industries Inc (NYSE: TRN), a multi-industry company owning a range of businesses providing products and services to the industrial, energy, transportation, and construction sectors, to buy from hold with a price target of $67.00, indicating an upside potential of 18.2% from current levels. Recently, TRN reported that it has acquired the assets of WesMor Cryogenic Companies, engaged in the manufacturing, repair, and rehabilitation of cryogenic containers that store and transport LNG and other industrial gases. The transaction includes the acquisition of a manufacturing facility in La Porte, Texas and three service facilities located in La Porte; Slidell, Louisiana; and Port Washington, Ohio.

LTC Properties Inc (NYSE: LTC), a health care real estate investment trust (REIT), was upgraded to buy from neutral at Sidoti & Company LLC increasing its price target to $45.00 from the earlier target of $42.00, indicating an upside of 24% from current levels. Recently, LTC announced to re-lease the 37 assisted living communities with Assisted Living Concepts, Inc. and Extendicare Health Services, Inc. This portfolio has annualized GAAP rent of about $11million, representing 9.3% of LTC’s total revenue.

Deutsche Bank upgraded MeadWestvaco Corp (NYSE: MWV), a global packaging company providing solutions to the healthcare, beauty and personal care, food, beverage, home and garden, tobacco, and agricultural industries, to buy from hold raising its target price to $41.00 from $37.00, indicating an upside of 9.7% from current levels. Analyst Mark Wilde cites that although the MWV’s announcement of additional cost reduction of around $100 million – $125 million and to boost its FCF by $100 million won’t fully address all the issues at MWV, they represent a substantial step. He also raised its 2014 EPS target from $1.80 to $2.20.

Casimir Capital initiated coverage on Magellan Petroleum Corp (NASDAQ: MPET), an independent energy company engaged in the exploration, development, production, and sale of crude oil and natural gas, with a speculative buy assigning a 12-month price target of $2.25, indicating an upside of 104.5% from current levels.

D.A. Davidson & Co downgraded Foster Wheeler AG (NASDAQ: FWLT), a supplier of engineering, construction and project management contractor and power equipment, to neutral from buy lowering its price target to $32.00 from $36.00, indicating an upside of 5.3% from current levels.