| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Turquoise Hill Resources Ltd | TSX | TRQ | 3.76 | 10 | Upgrade to sector perform from sector underperform | Alec Kodatsky | CIBC World Markets | 4.85 | 29.0% |
| Argonaut Gold Inc | TSX | AR | 4.81 | 11 | Upgrade to buy from hold | Matthew Sheppard | Jacob Securities Inc | 7.80 | 62.2% |
| Vicwest Inc | TSX | VIC | 10.03 | 8 | Upgrade to buy from hold | Damir Gunja | TD Securities | 12.50 | 24.6% |
| Marlin Gold Mining Ltd | TSXV | MLN | 0.11 | 4 | Initiate with buy | Joe Fazzini | Dundee Securities Corp | 0.19 | 72.7% |
| Bankers Petroleum Ltd | TSX | BNK | 5.37 | 17 | Downgrade to sector perform from outperform | Al Stanton | RBC Capital Markets | 5.50 | 2.4% |
CIBC World Markets upgraded Turquoise Hill Resources Ltd (TSX: TRQ), an international mineral exploration and development company, to sector perform from sector underperform with a price target of C$4.85, indicating an upside of 29% from current levels.
Argonaut Gold Inc (TSX: AR), engaged in gold mining, mine development and mineral exploration activities, was upgraded to buy from hold at Jacob Securities Inc increasing its price target to C$7.80 from C$6.50, indicating an upside of 62.2% from current levels. For fourth quarter 2013, AR recently reported revenues of $34.6 million from gold sales of 26,918 ounces, while gross profit was $8.6 million. During the quarter, profit from operations was $5.1 million and net income prior to a one-time item, was $2.2 million or $0.01 per basic share.
TD Securities upgraded Vicwest Inc (TSX: VIC), a manufacturer and distributor of engineered storage and handling systems, to buy from hold raising its price target to C$12.50 from C$14.00, indicating an upside of 24.6% from current levels. For the fourth quarter 2013, VIC reported that its revenues increased 1.7% to $104.9 over the previous year quarter. The company declared a fourth quarter dividend of $0.15 per share, payable on April 15, 2014 for shareholders of record on March 31, 2014.
Dundee Securities Corp initiated coverage on Marlin Gold Mining Ltd (TSXV: MLN), a junior exploration company engaged in acquiring and exploring mineral properties, with a buy rating assigning a 12-month price target of C$0.19, indicating an upside of 72.7% from current levels.
RBC Capital Markets downgraded Bankers Petroleum Ltd (TSX: BNK), engaged in the exploration for and oil in Albania, to sector perform from outperform with a price target of C$5.50, indicating an upside of 2.4% from current levels.
| Company Name | Exchange | Ticker | Last Price |
Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| CARBO Ceramics Inc | NYSE | CRR | 128.18 | 14 | Upgrade to buy from neutral | Stephen D Gengaro | Sterne, Agee & Leach | 150.00 | 17.0% |
| Covanta Holding Corp | NYSE | CVA | 17.35 | 12 | Upgrade to outperform from neutral | Ben Kallo | Robert W. Baird & Co | 21.00 | 21.0% |
| Lazard Ltd | NYSE | LAZ | 46.74 | 18 | Upgrade to buy from neutral | Steven Chubak | Nomura | 54.00 | 15.5% |
| Extreme Networks Inc | NASDAQ | EXTR | 5.54 | 5 | Initiate with buy | Simon M Leopold | Raymond James | 8.00 | 44.4% |
| WPX Energy Inc | NYSE | WPX | 17.61 | 12 | Downgrade to market perform from outperform | Nicholas P Pope | Cowen and Company | 20.00 | 13.6% |
Sterne, Agee & Leach upgraded CARBO Ceramics Inc (NYSE: CRR), a supplier of ceramic proppant and the resin-coated sand, to buy from neutral raising its price target to $150.00 from $125.00, indicating an upside of 17% from current levels. The rating firm believes that CRR has the potential to generate strong earnings over the next few years.
Covanta Holding Corp (NYSE: CVA), an owner and operator of infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses, was upgraded to outperform from neutral at Robert W. Baird & Co increasing its price target to $21.00 from $18.00, indicating an upside of 21% from current levels. The rating firm notes that CVA’s recent New York City contract will drive robust revenues growth and yields during the second half of 2014.
Nomura upgraded Lazard Ltd (NYSE: LAZ), a financial advisory and asset management company, to buy from neutral increasing its price target to $54.00 from $48.00, indicating an upside of 15.5% from current levels. The rating firm foresees favorable organic growth trends for the company and believes that it will gain strong market share in advisory.
Raymond James initiated coverage on Extreme Networks Inc (NASDAQ: EXTR), a provider of network infrastructure equipment and services for enterprises, data centers and service providers, with a buy rating assigning a 12-month price target of $8.00, indicating an upside of 44.4% from current levels.
Cowen and Company downgraded WPX Energy Inc (NYSE: WPX), an independent natural gas and oil exploration and production company engaged in the exploitation and development of long-life unconventional properties, to market perform from outperform with a price target of $20.00, indicating an upside of 13.6% from current levels.
