| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| New Gold Inc | TSX | NGD | 6.35 | 20 | Initiate with buy | Stuart Mcdougall | Jennings Capital | 8.00 | 26.0% |
| Dalradian Resources Inc | TSX | DNA | 0.69 | 10 | Initiate with speculative buy | Stuart Mcdougall | Jennings Capital | 2.25 | 226.1% |
| Chemtrade Logistics Income Fund | TSX | CHE-U | 19.89 | 6 | Re-initiate with outperform | Jeremy Mersereau | National Bank Financial | 21.00 | 5.6% |
| Brookfield Canada Office Properties | TSX | BOX-U | 25.81 | 7 | Downgrade to market perform from outperform | Heather C Kirk | BMO Capital Markets | 29.50 | 14.3% |
Jennings capital initiated coverage on two mineral resources mining companies, New Gold Inc (TSX: NGD) and Dalradian Resources Inc (TSX: DNA), with a buy and speculative buy rating respectively. The rating firm assigned a 12-month price target of C$8.00 to NGD and C$2.25 to DNA, indicating an upside potential of 26% and 226.1% from current levels respectively. Recently, DNA announced a bought deal financing of C$12 million representing 17.2 million shares at a price of C$0.70 per share. The net proceeds from the offering are expected to be used for the exploration and development of the company’s Curraghinalt gold project and for general working capital purposes.
Coverage on Chemtrade Logistics Income Fund (TSX: CHE-U), a supplier of sulphuric acid, liquid sulphur dioxide and sodium hydrosulphite, and a processor of spent acid, was re-initiated with an outperform rating at National Bank Financial with a 12-month price target of C$21.00, indicating an upside of 5.6% from current levels. Recently, CHE-U declared a cash dividend of C$0.10 per unit payable on February 28, 2014 to unit holders of record at the close of business on January 31, 2014.
BMO Capital Markets downgraded Brookfield Canada Office Properties (TSX: BOX-U), a closed ended, real estate investment trust, to market perform from outperform lowering its price target to C$29.50 from the earlier target of C$30.75, indicating an upside of 14.3% from current levels.
| Company Name | Exchange | Ticker | Last Price |
Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Atlas Energy LP | NYSE | ATLS | 47.39 | 4 | Upgrade to outperform from neutral | Ethan H Bellamy | Robert W. Baird & Co | 59.00 | 24.5% |
| Tyler Technologies Inc | NYSE | TYL | 103.80 | 11 | Upgrade to buy from neutral | Brian Kinstlinger | Sidoti & Company LLC | 132.00 | 27.2% |
| Millennial Media Inc | NYSE | MM | 7.36 | 10 | Upgrade to buy from hold | Jordan Rohan | Stifel Nicolaus | 10.00 | 35.9% |
| Clearwater Paper Corp | NYSE | CLW | 51.82 | 6 | Initiate with outperform | Paul Quinn | RBC Capital Markets | 70.00 | 35.1% |
| Horizon Bancorp/IN | NASDAQ | HBNC | 22.78 | 5 | Downgrade to market perform from outperform | Brian Martin | FIG Partners LLC | 24.50 | 7.6% |
Robert W. Baird & Co upgraded Atlas Energy LP (NYSE: ATLS), an independent developer and producer of natural gas, crude oil and natural gas liquids, to outperform from neutral increasing its price target to $59.00 from $51.00, indicating an upside of 24.5% from current levels.
Tyler Technologies Inc (NYSE: TYL), a provider of integrated information management solutions and services, was upgraded to buy from neutral at Sidoti & Company LLC raising its price target to $132.00 from $102.00, indicating an upside of 27.2% from current levels. TYL is scheduled to report its fourth quarter and fiscal year 2013 results on Thursday, February 6, 2014.
Stifel Nicolaus upgraded Millennial Media Inc (NYSE: MM), an independent mobile advertising platform company, to buy from hold with a price target of $10.00, indicating an upside of 35.9% from current levels. Recently, MM raised the estimates for its fourth-quarter results and said its integration of recent acquisition Jumptap Inc. is ahead of schedule. The company expects to post adjusted revenue between $106 million and $109 million, above its previous view of $95 million to $100 million.
RBC Capital Markets initiated coverage on Clearwater Paper Corp (NYSE: CLW), a producer of private label tissue and paperboard products, with an outperform rating assigning a 12-month price target of $70.00, indicating an upside of 35.1% from current levels.
FIG Partners LLC downgraded Horizon Bancorp/IN (NASDAQ: HBNC), a bank holding company engaged in providing a range of banking services, to market perform from outperform with a price target of $24.50, indicating an upside of 7.6% from current levels.
