Notable Analyst Upgrades and Downgrades (NYSE: GHL) (TSX: RNX)

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The following stocks were upgraded/downgraded on June 25, 2014
Company Name Exchange Ticker Last Price Total Analyst Coverage Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
Royal Nickel Corp TSX RNX 0.66 62.3 Initiate with speculative buy Mike Bandrowski Clarus Securities 2.50 278.8%
Athabasca Minerals Inc TSXV ABM 2.67 86.3 Initiate with buy Maxim Sytchev Dundee Securities Corp 5.50 106.0%
Augusta Resource Corp TSX AZC 3.40 494.6 Downgrade to sector perform from sector outperform Tom Meyer CIBC World Markets 3.56 4.7%

Clarus Securities initiated coverage on Royal Nickel Corp (TSX: RNX), an exploration-stage mineral resource company primarily focused on the exploration, development, evaluation and acquisition of mineral properties, with a speculative buy assigning a 12-month price target of C$2.50, indicating an upside of 278.8% from current levels.

Coverage on Athabasca Minerals Inc (TSXV: ABM), a Canada-based resource company focused on managing, acquiring, exploring and developing aggregate projects, was initiated with a buy rating at Dundee Securities Corp with a 12-month price target of C$5.50, indicating an upside of 106% from current levels.

CIBC World Markets downgraded Augusta Resource Corp (TSX: AZC), engaged in the acquisition, exploration and development of natural mineral resource properties, to sector perform from sector outperform reducing its price target to C$3.56 from C$4.75, indicating an upside of 4.7% from current levels.

The following stocks were upgraded/downgraded on June 25, 2014
Company Name Exchange Ticker Last Price Total Analyst
Coverage
Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
Greenhill & Co Inc NYSE GHL 47.77 1,350.4 Upgrade to buy from hold Jeffery Harte Sandler O’Neill & Partners, LP 54.00 13.0%
NuVasive Inc NASDAQ NUVA 34.82 1,622.6 Upgrade to buy/neutral from neutral/neutral David H Roman Goldman Sachs 43.00 23.5%
Trinity Industries Inc NYSE TRN 43.25 6,700.1 Upgrade to buy from neutral Eric Crawford UBS 51.00 17.9%
TetraLogic Pharmaceuticals Corp NASDAQ TLOG 5.10 113.6 Initiate with buy Do Kim Nomura 9.00 76.5%
Tutor Perini Corp NYSE TPC 30.84 1,496.6 Initiate with buy Michael Romanelli Sidoti & Company LLC 42.00 36.2%
Kraton Performance Polymers Inc NYSE KRA 22.58 740.1 Downgrade to neutral from outperform John P McNulty Credit Suisse 23.00 1.9%

Sandler O’Neill & Partners, LP upgraded Greenhill & Co Inc (NYSE: GHL), an independent investment bank focused on providing financial advice on mergers, acquisitions, restructurings, financings and capital raising to corporations, partnerships, institutions and governments, to buy from hold increasing its price target to $54.00 from $53.00, indicating an upside of 13% from current levels.

NuVasive Inc (NASDAQ: NUVA), a medical device company, that focuses on developing minimally disruptive surgical products and procedures for the spine, was upgraded to buy/neutral from neutral/neutral at Goldman Sachs raising its price target to $43.00 from $38.00, indicating an upside of 23.5% from current levels.

UBS upgraded Trinity Industries Inc (NYSE: TRN), a manufacturer of transportation, construction, and industrial products, to buy from neutral increasing its price target to $51.00 from $41.00, indicating an upside of 17.9% from current levels.

Nomura initiated coverage on TetraLogic Pharmaceuticals Corp (NASDAQ: TLOG), a biopharmaceutical company focused on discovering and developing small molecule peptide-mimetic drugs for the treatment of cancers, with a buy rating assigning a 12-month price target of $9.00, indicating an upside of 76.5% from current levels.

Coverage on Tutor Perini Corp (NYSE: TPC), a construction company offering general contracting, construction management and design-build services, was initiated with a buy rating at Sidoti & Company LLC with a 12-month price target of $42.00, indicating an upside of 36.2% from current levels.

Credit Suisse downgraded Kraton Performance Polymers Inc (NYSE: KRA), a producer of styrenic block copolymers (SBCs) and other engineered polymers, to neutral from outperform lowering its price target to $23.00 from $28.00, indicating an upside of 1.9% from current levels.

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