| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Kivalliq Energy Corp | TSXV | KIV | 0.24 | 3 | Upgrade to outperform from market perform | David Sadowski | Raymond James | 0.50 | 108.3% |
| 5N Plus Inc | TSX | VNP | 3.71 | 6 | Upgrade to buy from hold | Justin Wu | GMP | 4.70 | 26.7% |
| Imperial Metals Corp | TSX | III | 17.81 | 12 | Initiate with market perform | Adam Low | Raymond James | 19.00 | 6.7% |
| Trican Well Service Ltd | TSX | TCW | 13.70 | 18 | Downgrade to hold from buy | Scott Treadwell | TD Securities | 16.00 | 16.8% |
| Pason Systems Inc | TSX | PSI | 27.14 | 7 | Downgrade to hold from buy | Steve Li | Industrial Alliance Securities | 27.00 | -0.5% |
Raymond James upgraded Kivalliq Energy Corp (TSXV: KIV), an exploration-stage company focused on Uranium, to outperform from market perform, maintaining the price target at C$0.50, an upside of 108.3% from current levels. In January 2014, KIV acquired Genesis property in Northeastern Saskatchewan, Canada, comprising 36 mineral claims totaling 362,789 acres. The Genesis property covers 28 documented historic uranium showings and several uraniferous boulder trains.
Meanwhile, Raymond James initiated coverage on Imperial Metals Corp (TSX: III), engaged in the exploration, development and production of base and precious metals from its mineral properties, with market perform assigning a 12-month price target of C$19.00, an upside of 6.7% from current levels.
5N Plus Inc (TSX: VNP), a producer of specialty metal and chemical products used in pharmaceutical, electronic and industrial applications was upgraded at GMP, to buy from hold, raising the price target to C$4.70 from C$3.00, an upside of 26.7% from current levels.
TD Securities downgraded 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 hold from buy, maintaining the price target at C$16.00, an upside of 16.8% from current levels.
Pason Systems Inc (TSX: PSI), an international oil services company providing instrumentation systems for rent or sale to land-based and offshore drilling operations in the oil and gas industry was downgraded at Industrial Alliance Securities to hold from buy, maintaining the price target at C$27.00, a downside of 0.5% from current levels.
| Company Name | Exchange | Ticker | Last Price |
Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Bristow Group Inc | NYSE | BRS | 74.96 | 9 | Upgrade to overweight from equalweight | James C West | Barclays | 102.00 | 36.1% |
| Exterran Partners LP | NASDAQ | EXLP | 29.53 | 8 | Upgrade to outperform from neutral | John Edwards | Credit Suisse | 32.00 | 8.4% |
| Atlas Pipeline Partners LP | NYSE | APL | 30.91 | 10 | Initiate with hold | Valerie Zhang | Deutsche Bank | 35.00 | 13.2% |
| Phillips 66 Partners LP | NYSE | PSXP | 45.26 | 9 | Downgrade to neutral from outperform | John Edwards | Credit Suisse | 47.00 | 3.8% |
| Mercer International Inc | NASDAQ | MERC | 8.82 | 6 | Downgrade to market perform from outperform | Daryl Swetlishoff | Raymond James | 10.00 | 13.4% |
Barclays upgraded Bristow Group Inc (NYSE: BRS), a provider of helicopter services to the worldwide offshore energy industry based on the number of aircraft operated and one of two helicopter service providers to the offshore energy industry, to overweight from equalweight, maintaining the price target at $102.00, an upside of 36.1% from current levels.
Exterran Partners LP (NASDAQ: EXLP), a provider of natural gas contract operations services to customers throughout the US, was upgraded at Credit Suisse, to outperform from neutral, raising the price target to $32.00 from $31.00, an upside of 8.4% from current levels. Analyst John Edwards noted “EXLP reported 4Q Adjusted EBITDA and DCF of $58.8 mm and $37.8 mm, in-line with our estimates of $57.3mm and $36.1mm, respectively and higher than Street’s EBITDA expectations of $55.8mm. 4Q13 gross margin and average utilization came in at 55.7% and 94%, respectively, in line with expectations.”
Meanwhile, Credit Suisse downgraded Phillips 66 Partners LP (NYSE: PSXP), which owns, operates, develops and acquires primarily fee-based crude oil, refined petroleum product and natural gas liquids (NGL) pipelines and terminals and other transportation and midstream assets, to neutral from outperform. However, the target price was increased to $47.00 from $42.00, an upside of 3.8% from current levels. Analyst John Edwards notes that PSXP has delivered total returns of ~25% in the first two months of 2014, far ahead of the sector average and leading the pack for midstream MLPs. He writes “While we remain entirely confident in PSXP’s growth story, de-risked cash flow and 22% 3-year distribution CAGR, we believe the current stock price fairly reflects its growth potential. We have tweaked our model for the recently announced dropdown and are raising our distribution expectations slightly.”
Deutsche Bank initiated coverage on Atlas Pipeline Partners LP (NYSE: APL), a provider of natural gas gathering and processing services in the Anadarko and Permian Basins located in the southwestern and mid-continent regions of the US, with hold assigning a 12-month price target of $35.00, an upside of 13.2% from current levels.
Mercer International Inc (NASDAQ: MERC), a producer of market northern bleached softwood kraft (NBSK) pulp, was downgraded at Raymond James to market perform from outperform, reducing the price target to $10.00 from $11.50, an upside of 13.4% from current levels.
