Notable Analyst Upgrades and Downgrades (NYSE: CLC) (TSX: AEI)

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The following stocks were upgraded/downgraded on July 17, 2014
Company Name Exchange Ticker Last Price Market Cap Recommendation Analyst Name Rating Company Target Price Upside/
Downside (%)
Arsenal Energy Inc TSX AEI 7.83 125.9 Upgrade to buy from neutral Alistair Toward PI Financial Corp. 10.00 27.7%
Winpak Ltd TSX WPK 26.40 1,716.0 Upgrade to outperform from market perform Kenric S Tyghe Raymond James 30.00 13.6%
Long Run Exploration Ltd TSX LRE 5.64 843.6 Re-initiate with outperform Ray Kwan Macquarie 7.25 28.5%
Lucara Diamond Corp TSX LUC 2.73 1,032.4 Initiate with buy Matt O’Keefe Dundee Securities Corp 3.00 9.9%
SilverCrest Mines Inc TSX SVL 2.32 275.4 Downgrade to neutral from buy Joseph Reagor Roth Capital Partners 2.15 -7.3%

PI Financial Corp. upgraded Arsenal Energy Inc (TSX: AEI), an oil and gas exploration, development and production company, to buy from neutral increasing its price target to C$10.00 from the earlier target of C$7.8, indicating an upside of 27.7% from current levels.

Winpak Ltd (TSX: WPK), a Canada-based company engaged in manufacturing and sale of packaging materials and the production of related packaging machines, was upgraded to outperform from market perform at Raymond James increasing its price target to C$30.00 from C$27.5, indicating an upside of 13.6% from current levels.

Macquarie re-initiated coverage on Long Run Exploration Ltd (TSX: LRE), an intermediate oil company focused on light-oil development and exploration, with an outperform rating assigning a 12-month price target of C$7.25, indicating an upside of 28.5% from current levels.

Dundee Securities Corp initiated coverage on Lucara Diamond Corp (TSX: LUC), a diamond development company focused in Africa, with a buy rating assigning a 12-month price target of C$3.00, indicating an upside of 9.9% from current levels.

Roth Capital Partners downgraded SilverCrest Mines Inc (TSX: SVL), engaged in the acquisition, exploration and development of mineral properties in Mexico and Central America, to neutral from buy lowering its price target to C$2.15 from C$2.74, indicating a downside of 7.3% from current levels.

The following stocks were upgraded/downgraded on July 17, 2014
Company Name Exchange Ticker Last Price Market Cap Recommendation Analyst Name Rating Company Target Price Upside/
Downside (%)
CLARCOR Inc NYSE CLC 60.46 3,050.6 Upgrade to outperform from neutral Richard C Eastman Robert W. Baird & Co 67.00 10.8%
FLIR Systems Inc NASDAQ FLIR 32.53 4,607.0 Initiate with outperform Yair Reiner Oppenheimer & Co 40.00 23.0%
Tableau Software Inc NYSE DATA 59.68 4,056.2 Initiate with outperform Joel P Fishbein Jr BMO Capital Markets 75.00 25.7%
Masonite International Corp NYSE DOOR 50.75 1,493.6 Initiate with outperform Al Kaschalk Wedbush 62.00 22.2%
iGATE Corp NASDAQ IGTE 38.35 2,255.4 Downgrade to reduce from neutral Ashwin Mehta Nomura 35.00 -8.7%

Robert W. Baird & Co upgraded CLARCOR Inc (NYSE: CLC), a provider of filtration products, filtration systems and services, and consumer and industrial packaging products, to outperform from neutral with a price target of $67.00, indicating an upside of 10.8% from current levels.

Coverage on FLIR Systems Inc (NASDAQ: FLIR), a designer, manufacturer, and marketer of thermal imaging systems, was initiated with an outperform rating at Oppenheimer & Co with a 12-month price target of $40.00, indicating an upside of 23% from current levels.

BMO Capital Markets initiated coverage on Tableau Software Inc (NYSE: DATA), a computer software company, with an outperform rating assigning a 12-month price target of $75.00, indicating an upside of 25.7% from current levels.

Analyst Al Kaschalk at Wedbush initiated coverage on Masonite International Corp (NYSE: DOOR), a designer and manufacturer of interior and exterior doors for the residential new construction, with an outperform rating assigning a 12-month price target of $62.00, indicating an upside of 22.2% from current levels.

Nomura downgraded iGATE Corp (NASDAQ: IGTE), an outsourcing provider of integrated end-to-end offshore centric information technology (IT) and IT-enabled operations solutions and services, to reduce from neutral with a price target of $35.00, indicating a downside of 8.7% from current levels.

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