Notable Analyst Upgrades and Downgrades (NASDAQ: AAON) (TSX: SVY)

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The following stocks were upgraded/downgraded on April 24, 2014
Company Name Exchange Ticker Last Price Total Analyst Coverage Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
Savanna Energy Services Corp TSX SVY 8.69 11 Upgrade to outperform from market perform Kevin Lo FirstEnergy Capital Corp 10.00 15.1%
Canaccord Genuity Group Inc TSX CF 8.77 7 Upgrade to outperform from sector perform Geoffrey Kwan RBC Capital Markets 12.00 36.8%
Enwave Corp TSXV ENW 1.21 1 Initiate with speculative buy Marc Robinson Cormark Securities Inc. 2.25 86.0%
Endeavour Silver Corp TSX EDR 4.88 10 Initiate with buy Christos Doulis PI Financial Corp. 5.80 18.9%
FirstService Corp/Canada TSX FSV 53.24 10 Downgrade to sector perform from sector outperform Stephanie Price CIBC World Markets 56.00 5.2%

FirstEnergy Capital Corp upgraded Savanna Energy Services Corp (TSX: SVY), a drilling and oilfield services company with operations in Canada, the U.S and Australia, to outperform from market perform increasing its price target to C$10.00 from C$9.00, indicating an upside of 15.1% from current levels.

Canaccord Genuity Group Inc (TSX: CF), an independent, full-service financial services company, was upgraded to outperform from sector perform at RBC Capital Markets raising its price target to C$12.00 from C$7.50, indicating an upside of 36.8% from current levels.

Cormark Securities Inc. initiated coverage on Enwave Corp (TSXV: ENW), a Canada-based industrial technology company engaged in developing commercial applications for its Radiant Energy Vacuum (REV) dehydration technology, with a speculative buy rating assigning a 12-months price target of C$2.25, indicating an upside of 86% from current levels.

Coverage on Endeavour Silver Corp (TSX: EDR), engaged in the evaluation, acquisition, exploration, development and exploitation of silver mining properties in Mexico and in exploration in Chile, was initiated with a buy at PI Financial Corp with a price target of C$5.80, indicating an upside of 18.9% from current levels.

CIBC World Markets downgraded FirstService Corp (TSX: FSV), a provider of real estate-related services to the commercial, institutional and residential markets, to sector perform from sector outperform with a price target of C$56.00, indicating an upside of 5.2% from current levels.

The following stocks were upgraded/downgraded on April 24, 2014
Company Name Exchange Ticker Last Price Total Analyst
Coverage
Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
AAON Inc NASDAQ AAON 28.71 3 Upgrade to buy from neutral Joseph Mondillo Sidoti & Company LLC 35.00 21.9%
HMS Holdings Corp NASDAQ HMSY 16.21 11 Upgrade to outperform from market perform Bret D Jones Oppenheimer & Co 20.00 23.4%
Ciena Corp NYSE CIEN 21.33 25 Upgrade to buy from neutral Amitabh Passi UBS 27.00 26.6%
Nord Anglia Education Inc NYSE NORD 20.87 5 Initiate with buy Paul Ginocchio Deutsche Bank 23.00 10.2%
Ormat Technologies Inc NYSE ORA 27.19 7 Downgrade to market perform from outperform Ella Fried Bank Leumi 31.00 14.0%

Sidoti & Company LLC upgraded AAON Inc (NASDAQ: AAON), engaged in the manufacturing and sale of air-conditioning and heating equipment, to buy from neutral increasing its price target to $35.00 from $27.00, indicating an upside of 21.9% from current levels.

HMS Holdings Corp (NASDAQ: HMSY), a provider of cost containment services to Government and private healthcare payers and sponsors, was upgraded to outperform from market perform at Oppenheimer & Co with a price target of $20.00, indicating an upside of 23.4% from current levels.

UBS upgraded Ciena Corp (NYSE: CIEN), a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic, to buy from neutral raising its price target to $27.00 from $25.00, indicating an upside of 26.6% from current levels.

Deutsche Bank initiated coverage on Nord Anglia Education Inc (NYSE: NORD), an international operator of premium schools, with a buy rating assigning a 12-month price target of $23.00, indicating an upside of 10.2% from current levels.

Bank Leumi downgraded Ormat Technologies Inc (NYSE: ORA), a holding company engaged in the geothermal and recovered energy power business, to market perform from outperform with a price target of $31.00, indicating an upside of 14% from current levels.

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