Notable Analyst Upgrades and Downgrades (NASDAQ: VRNT) (TSX: SMT)

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The following stocks were upgraded/downgraded on June 05, 2014
Company Name Exchange Ticker Last Price Total Analyst Coverage Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
Sierra Metals Inc TSX SMT 1.71 272.2 Upgrade to outperform from sector perform Patrick Morton RBC Capital Markets 3.00 75.4%
WestJet Airlines Ltd TSX WJA 25.66 3,198.5 Upgrade to outperform from sector perform Cameron Doerksen National Bank Financial 29.00 13.0%
Curis Resources Ltd TSX CUV 0.77 57.6 Initiate with buy Jeffrey Woolley Paradigm Capital Inc 1.75 127.3%
Atico Mining Corp TSXV ATY 0.77 75.1 Initiate with buy Gary Lampard Canaccord Genuity Corp 1.25 62.3%
Elgin Mining Inc TSX ELG 0.33 56.2 Downgrade to neutral from outperform Michael Gray Macquarie 0.37 13.8%

RBC Capital Markets upgraded Sierra Metals Inc (TSX: SMT), a precious and base metals producer, to outperform from sector perform increasing its price target to C$3.00 from C$2.80, indicating an upside of 75.4% from current levels.

WestJet Airlines Ltd (TSX: WJA), an airline service and travel packages provider, was upgraded to outperform from sector perform at National Bank Financial increasing its price target to C$29.00 from C$27.00, indicating an upside of 13% from current levels.

Paradigm Capital Inc initiated coverage on Curis Resources Ltd (TSX: CUV), engaged in the acquisition, exploration and development of mineral properties, with a buy rating assigning a 12-month price target of C$1.75, indicating an upside of 127.3% from current levels.

Canaccord Genuity Corp initiated coverage on Atico Mining Corp (TSXV: ATY), a copper and gold exploration and development company, with a buy rating assigning a 12-month price target of C$1.25, indicating an upside of 62.3% from current levels.

Macquarie downgraded Elgin Mining Inc (TSX: ELG), a Canada-based company focused on the acquisition, exploration and development of gold projects, to neutral from outperform lowering its price target to C$0.37 from C$0.50, indicating an upside of 13.8% from current levels.

The following stocks were upgraded/downgraded on June 05, 2014
Company Name Exchange Ticker Last Price Total Analyst
Coverage
Upgrade/
Downgrade
Analyst Name Rating Company Target Price Upside/
Downside (%)
Verint Systems Inc NASDAQ VRNT 51.16 2,764.7 Upgrade to outperform from neutral Michael B Nemeroff Credit Suisse 57.00 11.4%
FARO Technologies Inc NASDAQ FARO 44.90 773.8 Upgrade to buy from hold James Ricchiuti Needham & Co 50.00 11.4%
Bankrate Inc NYSE RATE 15.66 1,640.2 Upgrade to outperform from sector perform Rohit Kulkarni RBC Capital Markets 21.00 34.1%
Rouse Properties Inc NYSE RSE 16.19 934.8 Initiate with outperform Richard C Moore RBC Capital Markets 19.00 17.4%
Life Time Fitness Inc NYSE LTM 45.91 1,876.4 Downgrade to neutral from overweight Sean Naughton Piper Jaffray 54.00 17.6%

Credit Suisse upgraded Verint Systems Inc (NASDAQ: VRNT), engaged in Actionable Intelligence solutions and value-added services, to outperform rating from neutral increasing its price target to $57.00 from $49.00, indicating an upside of 11.4% from current levels.

FARO Technologies Inc (NASDAQ: FARO), engaged in designing, developing, manufacturing, marketing and supporting portable, software driven, three-dimensional (3-D) measurement and imaging systems, was upgraded to buy from hold at Needham & Co with a price target of $50.00, indicating an upside of 11.4% from current levels.

RBC Capital Markets upgraded Bankrate Inc (NYSE: RATE), a publisher, aggregator and distributor of personal finance content on the Internet, to outperform from sector perform with a price target of $21.00, indicating an upside of 34.1% from current levels.

Meanwhile, RBC initiated coverage on Rouse Properties Inc (NYSE: RSE), a real estate investment trust (REIT) company, with an outperform rating assigning a 12-month price target of $19.00, indicating an upside of 17.4% from current levels.

Piper Jaffray downgraded Life Time Fitness Inc (NYSE: LTM), operating multi-use sports and athletic, professional fitness, family recreation and spa centers in a resort-like environment, to neutral from overweight reducing its price target to $54.00 from $59.00, indicating an upside of 17.6% from current levels.

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