| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage | Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price | Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Canfor Pulp Products Inc | TSX | CFX | 10.14 | 8 | Upgrade to outperform from sector perform | Paul Quinn | RBC Capital Markets | 13.00 | 28.2% |
| Alaris Royalty Corp | TSX | AD | 30.50 | 7 | Upgrade to outperform from sector perform | Trevor Johnson | National Bank Financial | 35.00 | 14.8% |
| Trinidad Drilling Ltd | TSX | TDG | 9.70 | 17 | Initiate with buy | John Bereznicki | Canaccord Genuity Corp | 12.25 | 26.3% |
| Parex Resources Inc | TSX | PXT | 6.91 | 16 | Initiate with buy | Ian W Macqueen | Paradigm Capital Inc | 9.75 | 41.1% |
| Savanna Energy Services Corp | TSX | SVY | 8.41 | 12 | Downgrade to underperform from market perform | Michael Mazar | BMO Capital Markets | 8.50 | 1.1% |
RBC Capital Markets upgraded Canfor Pulp Products Inc (TSX: CFX), engaged in investing in pulp and paper producing assets, to outperform from sector perform increasing its price target to C$31.00 from C$11.00, indicating an upside of 28.2% from current levels.
Alaris Royalty Corp (TSX: AD), a Canada-based company providing alternative financing to a range of private businesses, was upgraded to outperform from sector perform at National Bank Financial with a price target of C$35.00, indicating an upside of 14.8% from current levels. Recently, AD announced a follow-on contribution of C$5 million to Killick Aerospace Limited LP in exchange for $0.71 million additional annual distributions; a permanent increase in borrowing capacity on its revolving credit facility to C$75 million from C$50 million and an agreement with Labstat International ULC and its senior lenders to contribute C$6 million into Labstat in exchange for additional preferred units in Labstat.
Canaccord Genuity Corp initiated coverage on Trinidad Drilling Ltd (TSX: TDG), engaged in providing modern, reliable designed equipment operated by trained and experienced personnel operating in the drilling, coring and barge-drilling sectors, with a buy rating assigning a 12-month price target of C$12.25, indicating an upside of 26.3% from current levels.
Coverage on Parex Resources Inc (TSX: PXT), engaged in oil and natural gas exploration, development and production, was initiated with a buy at Paradigm Capital Inc with a price target of C$9.75, indicating an upside of 41.1% from current levels.
BMO Capital Markets downgraded Savanna Energy Services Corp (TSX: SVY), a drilling and oilfield services company, to underperform from market perform with a price target of C$8.50, indicating an upside of 1.1% from current levels.
| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price | Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| LinnCo LLC | NASDAQ | LNCO | 31.09 | 9 | Upgrade to overweight from neutral | Spiro M Dounis | JPMorgan | 36.00 | 15.8% |
| Manhattan Associates Inc | NASDAQ | MANH | 124.05 | 4 | Upgrade to outperform from market perform | Terry Tillman | Raymond James | 139.50 | 12.5% |
| Rexnord Corp | NYSE | RXN | 28.36 | 9 | Upgrade to outperform from neutral | Julian Mitchell | Credit Suisse | 31.00 | 9.3% |
| Scorpio Bulkers Inc | NYSE | SALT | 9.73 | 5 | Initiate with buy | Justin B Yagerman | Deutsche Bank | 14.00 | 43.9% |
| Gulfport Energy Corp | NASDAQ | GPOR | 59.21 | 27 | Downgrade to sector perform from outperform | Leo P Mariani | RBC Capital Markets | 61.00 | 3.0% |
JPMorgan upgraded LinnCo LLC (NASDAQ: LNCO), engaged in the development and acquisition of oil and natural gas properties, to overweight from neutral with a price target of $36.00, indicating an upside potential of 15.8% from current levels. The rating bank believes that the closure of the acquisition of Berry Petroleum has eliminated the major overhang that created volatility and uncertainty in the LP units. The rating firm added that the investors can now refocus on the driller’s operational performance and its ability to grow earnings and cash flow through acquisition activity in coming years.
Manhattan Associates Inc (NASDAQ: MANH), a developer and implementer of supply chain software solutions that help organizations to optimize their supply chain operations from planning through execution, was upgraded to outperform from market perform at Raymond James with a price target of $139.50, indicating an upside of 12.5% from current levels.
Credit Suisse upgraded Rexnord Corp (NYSE: RXN), a multi-platform industrial company, to outperform from neutral, increasing its price target to $31.00 from $22.00, indicating an upside of 9.3% from current levels. Analyst Julian Mitchell believes that company’s increased pace of M&A will continue through 2015. RXN’s focus on doing fairly small deals in niche markets will allow the company to pay mid-high single-digit EV/EBITDA multiples, which are considerably lower than the industrials’ M&A average.
Deutsche Bank initiated coverage on Scorpio Bulkers Inc (NYSE: SALT), an owner and operator of a fleet of mid-sized dry bulk carriers, with a buy rating assigning a 12-month price target of $14.00, indicating an upside of 43.9% from current levels. Recently, SALT entered into an agreement to purchase twenty Capesize dry bulk vessels and two Kamsarmax dry bulk vessels worth $1.17 billion.
RBC Capital Markets downgraded Gulfport Energy Corp (NASDAQ: GPOR), an independent oil and natural gas exploration and production company, to sector perform from outperform lowering its price target to $61.00 from the earlier target of $64.00, indicating an upside of 3% from current levels.
