| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage | Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price | Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Detour Gold Corp | TSX | DGC | 6.36 | 16 | Upgrade to buy from hold | Michael Parkin | Desjardins Securities | 7.50 | 17.9% |
| Reservoir Minerals Inc | TSXV | RMC | 5.91 | 5 | Upgrade to buy from hold | Raymond Goldie | Salman Partners | 7.60 | 28.6% |
| Veresen Inc | TSX | VSN | 14.97 | 12 | Upgrade to outperform from sector perform | Robert Kwan | RBC Capital Markets | 17.00 | 13.6% |
| Roxgold Inc | TSXV | ROG | 0.62 | 7 | Initiate with outperform | Jonathan Guy | RBC Capital Markets | 0.75 | 21.0% |
| North American Energy Partners Inc | TSX | NOA | 6.87 | 7 | Downgrade to market perform from outperform | Bert Powell | BMO Capital Markets | 7.50 | 9.2% |
Desjardins Securities upgraded Detour Gold Corp (TSX: DGC), a Canadian
gold exploration and development company, to buy from hold raising its
price target to $7.50 from $6.75, indicating an upside of 17.9% from current
levels. DGC reported that it estimates production this year to double and
cash costs to improve at its Detour Lake gold mine in northeastern Ontario.
Reservoir Minerals Inc (TSXV: RMC), an international mineral exploration
and development company with a portfolio of precious and base metal exploration
properties, was upgraded to buy from hold at Salman Partners raising its
price target to C$7.60 from C$5.30, indicating an upside of 28.6% from
current levels.
RBC Capital Markets upgraded Veresen Inc (TSX: VSN), a Canadian corporation
managing its pipeline transportation, midstream services, and power generation
businesses, to outperform from sector perform increasing its price target
to C$17.00 from C$13.00, indicating an upside of 13.6% from current levels.
Recently, VSN declared a cash dividend of C$0.08 per common share payable
on February 21, 2014 to shareholders of record at the close of business
on January 31, 2014.
Meanwhile, RBC initiated coverage on Roxgold Inc (TSXV: ROG), a junior
natural resource company engaged in the business of acquiring, exploring
and evaluating mineral properties, with an outperform rating assigning
12-month price target of C$0.75, indicating an upside of 21% from current
levels.
BMO Capital Markets downgraded North American Energy Partners Inc (TSX:
NOA), a provider of a range of heavy construction and mining and pipeline
installation services, to market perform from outperform with a price target
of C$7.50, indicating an upside of 9.2% from current levels.
| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price | Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Maxim Integrated Products Inc | NASDAQ | MXIM | 29.92 | 28 | Upgrade to overweight from equalweight | Blayne Curtis | Barclays | 35.00 | 17.0% |
| Fortinet Inc | NASDAQ | FTNT | 22.00 | 27 | Upgrade to market outperform from market perform | Erik Suppiger | JMP Securities | 26.00 | 18.2% |
| Sanmina Corp | NASDAQ | SANM | 16.71 | 12 | Upgrade to buy from hold | Sean K F Hannan | Needham & Co | 19.00 | 13.7% |
| International Flavors & Fragrances Inc | NYSE | IFF | 87.20 | 10 | Initiate with buy | Rohini Nair | Deutsche Bank | 98.00 | 12.4% |
| Western Refining Inc | NYSE | WNR | 38.58 | 13 | Downgrade to neutral from outperform | Edward Westlake | Credit Suisse | 46.00 | 19.2% |
Barclays upgraded Maxim Integrated Products Inc (NASDAQ: MXIM), engaged
in designing, developing, manufacturing and marketing a range of linear
and mixed-signal integrated circuits, to overweight from equal-weight increasing
its price target to $35.00 from $28.00, indicating an upside of 17% from
current levels. Analyst Blayne Curtis reported that MXIM has won the fingerprint
sensor slot for Samsung’s upcoming Galaxy S5. Maxim being a major supplier
to Samsung, the company reported that its content share within the S5 will
rise relative to the S4.
Fortinet Inc (NASDAQ: FTNT), a provider of network security solutions,
was upgraded to market outperform from market perform at JMP Securities
with a price target of $26.00, indicating an upside of 18.2% from current
levels. The rating firm believes that the managed security service provider
market is healthy and that the FTNT is well positioned to accelerate share
gains against competitors. Increase in the security breaches during recent
months has accelerated the demand for enterprise security, particularly
in the distributed enterprise, where Fortinet is particularly well positioned.
Needham & Co upgraded Sanmina Corp (NASDAQ: SANM), a provider of integrated
manufacturing solutions, components, products and repair, logistics and
after-market services, to buy from hold with a price target of $19.00,
indicating an upside of 13.7% from current levels. With improving efforts
in the Industrial and other non-traditional spaces as well as solid footing
in Datacom and Computing, analyst Sean K.F. Hannan is more optimistic on
the company’s outlook for FY14. Leverage within the model as well as the
active buyback should drive healthy EPS growth.
Deutsche Bank initiated coverage on International Flavors & Fragrances
Inc (NYSE: IFF), a manufacturer and supplier of flavors and fragrances
for the food, beverage, personal care and household products industries,
with a buy rating assigning a 12-month price target of $98.00, indicating
an upside of 12.4% from current levels. The investment bank believes that
IFF is well-positioned to achieve 4% to 6% top line growth driven by further
emerging markets penetration, health & wellness mega trend, proprietary
flavor and fragrance technologies and stabilization of fragrance ingredients
segment.
Credit Suisse downgraded (NYSE: WNR), an independent crude oil refiner
and marketer of refined products and an operator of service stations and
convenience stores, to neutral from outperform with a price target of $46.00,
indicating an upside of 19.2% from current levels.
