Notable Analyst Upgrades and Downgrades (NYSE: NGS) (TSX: KDX)

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The following stocks were upgraded/downgraded on May 29, 2014
Company Name Exchange Ticker Last Price Total Analyst Coverage Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
Klondex Mines Ltd TSX KDX 1.83 202.8 Initiate with outperform Sam Crittenden RBC Capital Markets 3.00 63.9%
Dejour Energy Inc TSX DEJ 0.23 36.2 Initiate with speculative buy Philip E Juskowicz Casimir Capital 0.54 140.0%
Rubicon Minerals Corp TSX RMX 1.08 392.2 Initiate with speculative buy Joe Mazumdar Canaccord Genuity Corp 1.60 48.1%
Keyera Corp TSX KEY 73.55 5,841.1 Downgrade to hold from buy Robert Catellier GMP 77.00 4.7%

RBC Capital Markets initiated coverage Klondex Mines Ltd (TSX: KDX), a Canada-based company engaged in the acquisition, exploration and development of gold and silver properties, with an outperform rating assigning a 12-month price target of C$3.00, indicating an upside of 63.9% from current levels.

Coverage on Dejour Energy Inc (TSX: DEJ), engaged in the business of acquiring, exploring and developing energy projects with a focus on oil and gas exploration, was initiated with a speculative buy at Casimir Capital with a 12-month price target of C$0.54, indicating an upside of 140% from current levels.

Canaccord Genuity Corp initiated coverage on Rubicon Minerals Corp (TSX: RMX), a mineral exploration company engaged in the acquisition, exploration and development of gold and base-metal exploration properties both through Company funded and partner-funded exploration, with a speculative buy assigning a 12-month price target of 48.1% from current levels.

GMP downgraded Keyera Corp (TSX: KEY), engaged in operating natural gas midstream businesses, to hold from buy lowering its price target to C$77.00 from C$78.00, indicating an upside of 4.7% from current levels.

The following stocks were upgraded/downgraded on May 29, 2014
Company Name Exchange Ticker Last Price Total Analyst
Coverage
Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
Natural Gas Services Group Inc NYSE NGS 30.30 377.6 Upgrade to overweight from equalweight Joseph D Gibney Capital One Southcoast, Inc. 35.00 15.5%
Palo Alto Networks Inc NYSE PANW 73.17 5,419.3 Upgrade to strong buy from outperform Michael Turits Raymond James 90.00 23.0%
Universal Electronics Inc NASDAQ UEIC 45.62 726.0 Initiate with buy Michael Kurlancheek Sidoti & Company LLC 57.00 24.9%
ExamWorks Group Inc NYSE EXAM 29.67 1,153.5 Initiate with buy Shawn Bevec Deutsche Bank 38.00 28.1%
Mid-Con Energy Partners LP NASDAQ MCEP 22.31 469.9 Downgrade to equalweight from overweight Ben Wyatt Stephens Inc 25.00 12.1%

Capital One Southcoast upgraded Natural Gas Services Group Inc (NYSE: NGS), a provider of small to medium horsepower compression equipment to the natural gas industry, to overweight from equal-weight with a price target of $35.00, indicating an upside of 15.5% from current levels.

Palo Alto Networks Inc (NYSE: PANW), a provider of network security platform that allows enterprises, service providers, and government entities to secure their networks, was upgraded to strong buy from outperform at Raymond James raising its price target to $90.00 from $84.00, indicating an upside of 23% from current levels.

Sidoti & Company LLC initiated coverage on Universal Electronics Inc (NASDAQ: UEIC), a developer and manufacturer of pre-programmed universal wireless remote control products, audio-video accessories, and software that are marketed for home entertainment systems, with a buy rating assigning a 12-month price target of $57.00, indicating an upside of 24.9% from current levels.

Coverage on ExamWorks Group Inc (NYSE: EXAM), a provider of independent medical examinations (IMEs), peer and bill reviews, and related services, referred to as IME services or the IME industry, was initiated with a buy rating at Deutsche Bank with a price target of $38.00, indicating an upside of 28.1% from current levels.

Stephens Inc downgraded Mid-Con Energy Partners LP (NASDAQ: MCEP), engaged in the acquisition, exploitation and development of producing oil and natural gas properties, to equal-weight from overweight lowering its price target to $25.00 from $27.00, indicating an upside of 12.1% from current levels.

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