| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Africa Oil Corp | TSXV | AOI | 7.71 | 24 | Upgrade to overweight from equalweight | Alessandro Pozzi | Barclays | 12.75 | 65.4% |
| Rifco Inc | TSXV | RFC | 5.01 | 3 | Upgrade to buy from market perform | Jeff Fenwick | Cormark Securities Inc. | 6.50 | 29.7% |
| PRD Energy Inc | TSXV | PRD | 1.00 | 1 | Initiate with outperform | David Popowich | Macquarie | 2.00 | 100.0% |
| Posera-HDX Ltd | TSX | HDX | 0.30 | 1 | Initiate with strong buy | Ralph Garcea | Global Maxfin Capital Inc | 1.00 | 233.3% |
| Finning International Inc | TSX | FTT | 31.74 | 14 | Downgrade to market perform from outperform | Bert Powell | BMO Capital Markets | 33.00 | 4.0% |
Barclays upgraded Africa Oil Corp (TSXV: AOI), a Canada-based international oil and gas exploration and development company, to overweight from equal-weight with a price target of C$12.75, indicating an upside of 65.4% from current levels.
Rifco Inc (TSXV: RFC), a specialty consumer finance company with a focus on the automotive aftermarket industry, was upgraded to buy from market perform with a price target of C$6.50, indicating an upside of 29.7% from current levels. Recently, RFC reported that its wholly owned subsidiary Rifco National Auto Finance originated record breaking new loans worth $15 million, a 50% increase over the prior milestone in 10 months.
Macquarie initiated coverage on PRD Energy Inc (TSXV: PRD), an exploration-stage company focused on farm-in arrangements, with a number of oil and gas operators, with an outperform rating assigning a 12-month price target of C$2.00, indicating an upside of 100% from current levels.
Coverage on Posera-HDX Ltd (TSX: HDX), engaged in the business of managing merchant transactions, was initiated with a strong buy at Global Maxfin Capital Inc with a 12-month price target of C$1.00, indicating an upside of 233.3% from current levels.
BMO Capital Markets downgraded Finning International Inc (FTT), a provider of sales, rental, parts and support services for Caterpillar Inc, to market perform from outperform lowering its price target to C$33.00 from C$34.00, indicating an upside of 4% from current levels.
| Company Name | Exchange | Ticker | Last Price |
Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Acuity Brands Inc | NYSE | AYI | 137.75 | 16 | Upgrade to buy from hold | Jonathan E Dorsheimer | Canaccord Genuity Corp | 172.00 | 24.9% |
| Worthington Industries Inc | NYSE | WOR | 39.81 | 8 | Upgrade to buy from hold | Philip Gibbs | KeyBanc Capital Markets | 46.00 | 15.5% |
| STERIS Corp | NYSE | STE | 51.20 | 9 | Upgrade to overweight from equalweight | Christopher C Cooley | Stephens Inc | 58.00 | 13.3% |
| China Mobile Games & Entertainment Group Ltd | NASDAQ | CMGE | 22.50 | 4 | Initiate with overweight | Alicia Yap | Barclays | 32.00 | 42.2% |
| Essex Property Trust Inc | NYSE | ESS | 172.30 | 22 | Downgrade to neutral/neutral from buy/neutral | Andrew Rosivach | Goldman Sachs | 177.00 | 2.7% |
Canaccord Genuity Corp upgraded Acuity Brands Inc (NYSE: AYI), a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications, to buy from hold increasing its price target to $172.00 from $128.00, indicating an upside of 24.9% from current levels. For the second quarter 2014, AYO reported revenues of $546.2 million, up 12% from the same quarter last year, while net income grew by $50.8 million to $77.2 million or 75 cents per share over the prior year quarter. The company declared a quarterly dividend of 13 cents per share payable on May 1st 2014 to the shareholders as of record on April 17th 2014.
Worthington Industries Inc (NYSE: WOR), a diversified metals processing company focused on steel processing and manufactured metal products, was upgraded to buy from hold at KeyBanc Capital Markets with a price target of $46.00, indicating an upside of 15.5% from current levels. The rating firm notes that the stock has pulled back, but the long-term growth thesis remains intact. Recently, WOR acquired the Dickinson, N.D.-based tank manufacturing division of Steffes Corp to expand its northern footprint and open in a place that is set for long-term growth.
Stephens Inc upgraded STERIS Corp (NYSE: STE), a provider of infection prevention and other procedural products and services, focused primarily on healthcare, pharmaceutical and research, to overweight from equal-weight with a price target of $58.00, indicating an upside of 13.3% from current levels. Recently, STE announced the acquisition of Integrated Medical Systems International Inc., an endoscope repair, surgical instrument management and sterile processing consulting company, for $165 million, plus $10 million for the purchase of real estate.
Barclays initiated coverage on China Mobile Games & Entertainment Group Ltd (NASDAQ: CMGE), engaged in the development, operation and sale of feature phone and smartphone games, as well as the provision of handset design products and services, with an overweight rating assigning a 12-month price target of $32.00, indicating an upside of 42.2% from current levels.
Goldman Sachs downgraded Essex Property Trust Inc (NYSE: ESS), a self-administered and self-managed real estate investment trust (REIT), to neutral/neutral from buy/neutral with a price target of $177.00, indicating an upside of 2.7% from current levels.
