A Canadian gold project developer and a U.S. bank holding company both received analyst upgrades, one of which has an implied upside of nearly 50%.
| Company Name | Exchange | Ticker | Last Price | Market Cap | Recommendation | Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Rio Alto Mining Ltd | TSX | RIO | 2.67 | 472.8 | Upgrade to sector outperform | Ovais Habib | Scotia Capital | 3.00 | 12.4% |
| Vicwest Inc | TSX | VIC | 10.37 | 182.7 | Upgrade to outperform from sector perform | Greg Colman | National Bank Financial | 13.00 | 25.4% |
| Tricon Capital Group Inc | TSX | TCN | 7.41 | 670.9 | Initiate with buy | Jonathan Kelcher | TD Securities | 9.50 | 28.2% |
| Sprott Resource Corp | TSX | SCP | 3.07 | 301.3 | Initiate with buy | Scott Chan | Canaccord Genuity Corp | 3.75 | 22.1% |
| Imperial Metals Corp | TSX | III | 10.14 | 760.0 | Downgrade to hold from buy | Craig Hutchison | TD Securities | 12.00 | 18.3% |
Scotia Capital upgraded Rio Alto Mining Ltd (TSX: RIO), engaged in the acquisition and exploration and developing gold resources and advanced stage exploration projects, to sector outperform with a price target of $3.00, indicating an upside of 12.4% from current levels.
Vicwest Inc (TSX: VIC), a manufacturer and distributor of engineered storage and handling systems for grain, fertilizer and liquid storage, and building construction products, was upgraded to outperform from sector perform at National Bank Financial increasing its price target to C$13.00 from C$12.00, indicating an upside of 25.4% from current levels.
TD Securities initiated coverage on Tricon Capital Group Inc (TSX: TCN), a North American real estate asset manager and principal investor with a primary focus on the residential sector, with a buy rating assigning a 12-month price target of C$9.50, indicating an upside of 28.2% from current levels.
However, TD Securities downgraded Imperial Metals Corp (TSX: III), engaged in the exploration, development and production of base and precious metals from its mineral properties, to hold from buy lowering its price target to C$12.00 from C$20.00, indicating an upside of 18.3% from current levels.
Canaccord Genuity Corp initiated coverage on Sprott Resource Corp (TSX: SCP), a Canada-based company that invests and operates through its subsidiaries in the natural resource sector, with a buy rating assigning a 12-month price target of C$3.75, indicating an upside of 22.1% from current levels.
| Company Name | Exchange | Ticker | Last Price | Market Cap | Recommendation | Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Criteo SA | NASDAQ | CRTO | 31.41 | 1,812.2 | Upgrade to buy/neutral from neutral/neutral | Debra Schwartz | Goldman Sachs | 42.00 | 33.7% |
| Pegasystems Inc | NASDAQ | PEGA | 22.92 | 1,749.0 | Upgrade to buy from neutral | Brian Murphy | Merriman Capital Inc | 27.00 | 17.8% |
| Virtusa Corp | NASDAQ | VRTU | 33.31 | 972.3 | Upgrade to buy from hold | Vincent A Colicchio | Noble Financial Group | 39.00 | 17.1% |
| Heron Therapeutics Inc | NASDAQ | HRTX | 8.44 | 244.0 | Initiate with buy | Rahul Jasuja | Noble Financial Group | 18.00 | 113.3% |
| Approach Resources Inc | NASDAQ | AREX | 17.71 | 697.2 | Downgrade to neutral from outperform | Daniel P Katzenberg | Robert W. Baird & Co | 23.00 | 29.9% |
Goldman Sachs upgraded Criteo SA (NASDAQ: CRTO), engaged in enabling companies to engage and convert their customers online whether they are on a desktop, laptop, tablet or smartphone, to buy/neutral from neutral/neutral increasing its price target to $42.00 from $36.00, indicating an upside of 33.7% from current levels.
Pegasystems Inc (NASDAQ: PEGA), engaged in developing, marketing, licensing, and supporting software, which allows organizations to build, deploy, and change enterprise applications, was upgraded to buy from neutral at Merriman Capital Inc with a price target of $27.00, indicating an upside of 17.8% from current levels.
Noble Financial Group upgraded Virtusa Corp (NASDAQ: VRTU), a global information technology services company, to buy from hold with a 12-month price target of $39.00, indicating an upside of 17.1% from current levels.
Meanwhile, Noble Financial Group initiated coverage on Heron Therapeutics Inc (NASDAQ: HRTX), a specialty pharmaceutical company developing pharmaceutical products using its Biochronomer polymer-based drug delivery platform, with a buy rating assigning a 12-month price target of $18.00, indicating an upside of 113.3% from current levels.
Robert W. Baird & Co downgraded Approach Resources Inc (NASDAQ: AREX), an independent energy company engaged in the exploration, development, production and acquisition of oil and gas properties, to neutral from outperform lowering its price target to $23.00 from $30.00, indicating an upside of 29.9% from current levels.
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