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 (%) |
|---|---|---|---|---|---|---|---|---|---|
| ShawCor Ltd | TSX | SCL | 54.27 | 3,269.2 | Upgrade to buy from hold | Scott Treadwell | TD Securities | 65.00 | 19.8% |
| Grenville Strategic Royalty Corp | TSXV | GRC | 0.78 | 46.2 | Initiate with buy | Marc Charbin | Laurentian Bank Securities | 1.10 | 41.0% |
| CERF Inc | TSXV | CFL | 3.57 | 69.9 | Initiate with buy | David F Newman | Cormark Securities Inc. | 5.75 | 61.1% |
| Parallel Energy Trust | TSX | PLT-U | 3.75 | 202.2 | Initiate with outperform | Brent Legate | National Bank Financial | 5.00 | 33.3% |
| Sierra Wireless Inc | TSX | SW | 32.18 | 1,014.1 | Downgrade to market perform from market outperform | John F Bright | Avondale Partners LLC | 32.92 | 2.3% |
TD Securities upgraded ShawCor Ltd (TSX: SCL), a global energy services company, to buy from hold raising its price target to C$65.00 from C$59.00, indicating an upside of 19.8% from current levels.
Laurentian Bank Securities initiated coverage on Grenville Strategic Royalty Corp (TSXV: GRC), engaged in providing investment exposure in the supply chains, technologies, commodity resources and financial structures markets, with a buy rating assigning a 12-month price target of C$1.10, indicating an upside of 41% from current levels.
Coverage on CERF Inc (TSXV: CFL), engaged in rental, sale and service of industrial and construction equipment and waste management and environmental services, was initiated with a buy rating at Cormark Securities Inc., assigning a 12-months price target of C$5.75, indicating an upside potential of 61.1% from current levels
National Bank Financial initiated coverage on Parallel Energy Trust (TSX: PLT-U), an unincorporated open-ended limited purpose trust, with an outperform rating assigning a 12-month price target of C$5.00, indicating an upside of 33.3% from current levels.
Sierra Wireless Inc (TSX: SW), engaged in the development of wireless technologies and solutions, was downgraded by Avondale Partners LLC to market perform from market outperform with a price target of C$32.92, implying an upside of 2.3% from current levels.
| Company Name | Exchange | Ticker | Last Price | Market Cap | Recommendation | Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Patterson-UTI Energy Inc | NASDAQ | PTEN | 33.07 | 4,832.7 | Upgrade to overweight from equalweight | Luke M Lemoine | Capital One Securities, Inc. | 43.00 | 30.0% |
| PolyOne Corp | NYSE | POL | 35.68 | 3,294.3 | Upgrade to overweight from equalweight | Michael J Harrison | First Analysis Corp | 45.00 | 26.1% |
| Concur Technologies Inc | NASDAQ | CNQR | 126.82 | 7,238.2 | Upgrade to neutral from sell | Greg Dunham | Goldman Sachs | 92.00 | -27.5% |
| Memorial Resource Development Corp | NASDAQ | MRD | 27.79 | 5,379.3 | Initiate with neutral | Brian D Gamble | Simmons & Company International | 32.00 | 15.1% |
| Outerwall Inc | NASDAQ | OUTR | 58.49 | 1,161.4 | Downgrade to sell from neutral | Eric Wold | B Riley & Co | 47.00 | -19.6% |
Capital One Securities, Inc. upgraded Patterson-UTI Energy Inc (NASDAQ: PTEN), engaged in owning and operating fleets of land-based drilling rigs in U.S, to overweight from equal weight raising its price target to $43.00 from $41.00, indicating an upside of 30.0% from current levels.
PolyOne Corp (NYSE: POL), engaged in providing polymer services with operations in North America, was upgraded by First Analysis Corp to overweight from underweight with a price target of $45.00, indicating an upside potential of 26.1% from current levels.
Goldman Sachs upgraded Concur Technologies Inc (NASDAQ: CNQR), a provider of integrated travel and expense management solutions for companies of all industries, sizes, and geographies, to neutral from sell raising its price target to $92.00 from $83, indicating a downside of 27.5% from current levels.
Simmons & Company International initiated coverage on Memorial Resource Development Corp (NASDAQ: MRD), engaged in exploitation, development, and acquisition of natural gas, with a neutral rating assigning a 12-months price target of $32.00, indicating an upside potential of 15.1% from current levels.
Outerwall Inc (NASDAQ: OUTR), engaged in providing automated retail solutions including two core self-service kiosk businesses; DVD, video game rentals and coin-counting, was downgraded by B Riley & Co to sell from neutral by reducing its price target to $47.00 from $54, implying downside of 19.6% from current levels.
