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 (%) |
|---|---|---|---|---|---|---|---|---|---|
| NOVAGOLD Resources Inc | TSX | NG | 4.23 | 1,342.1 | Initiate with sector perform | Raj Ray | National Bank Financial | 4.00 | -5.4% |
| Cardiome Pharma Corp | TSX | COM | 11.00 | 181.7 | Initiate with buy | Difei Yang | Brean Capital LLC | 15.41 | 40.1% |
| Tuscany Energy Ltd | TSXV | TUS | 0.24 | 12.3 | Downgrade to hold from buy | Michael Charlton | Industrial Alliance Securities | 0.35 | 45.8% |
| Temple Hotels Inc | TSX | TPH | 3.60 | 146.9 | Downgrade to hold from buy | Nelson Mah | Laurentian Bank Securities | 3.75 | 4.2% |
National Bank Financial initiated coverage on NOVAGOLD Resources Inc (TSX: NG), engaged in the exploration and development of mineral properties in North America, with a sector perform rating assigning a 12-month price target of C$4.00, indicating a downside of 5.4% from current levels.
Coverage on Cardiome Pharma Corp (TSX: COM), engaged in the business of discovering, developing and commercializing new therapies, was initiated with a buy rating at Brean Capital LLC, assigning a 12-month price target of C$15.41, indicating an upside potential of 40.1% from current levels.
Tuscany Energy Ltd (TSXV: TUS), engaged in the exploration, development and production of oil and gas, was downgraded by Industrial Alliance Securities to hold from buy by reducing its price target to C$0.35 from $0.60, indicating an upside of 45.8% from current levels.
Laurentian Bank Securities downgraded Temple Hotels Inc (TSX: TPH), engaged in the business of making investments directly or indirectly, in the ownership and operation of hotel properties, businesses and assets, to hold from buy by reducing its price target to C$3.75 from C$4.25, indicating an upside of 4.2% from current levels.
| Company Name | Exchange | Ticker | Last Price | Market Cap | Recommendation | Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| City National Corp/CA | NYSE | CYN | 77.56 | 4,274.68 | Upgrade to overweight from neutral | Steven Alexopoulos | JPMorgan | 94.00 | 21.2% |
| Douglas Emmett Inc | NYSE | DEI | 29.5 | 4,272.38 | Upgrade to outperform from market perform | William A Crow | Raymond James | 33.00 | 11.9% |
| Corporate Office Properties Trust | NYSE | OFC | 29.05 | 2,687.76 | Upgrade to outperform from market perform | William A Crow | Raymond James | 32.00 | 10.2% |
| zulily Inc | NASDAQ | ZU | 21.24 | 2,662.14 | Initiate with buy | Scott Devitt | Stifel | 30.00 | 41.2% |
| Tenneco Inc | NYSE | TEN | 53.54 | 3,269.59 | Downgrade to sell from neutral | Patrick Archambault | Goldman Sachs | 55.00 | 2.7% |
JPMorgan upgraded City National Corp/CA (NYSE: CYN), engaged in offering private and business banking services throughout California, Nevada and New York City, to overweight from neutral by raising its price target to $94.00 from $83.00, indicating an upside of 21.2% from current levels.
Douglas Emmett Inc (NYSE: DEI), engaged in the business of making investments in office and multifamily properties in Los Angeles County, California and Honolulu, Hawaii, was upgraded by Raymond James to outperform from market perform with a price target of $33.00, indicating an upside of 11.9% from current levels.
Raymond James upgraded Corporate Office Properties Trust (NYSE: OFC), engaged in the acquisition, ownership and operation of suburban office properties located in high-growth submarkets, to outperform from market perform with a price target of $32.00, indicating an upside of 10.2% from current levels.
Stifel initiated coverage on zulily Inc (NASDAQ: ZU), engaged in the business of online retailing by offering bibs and burp cloths, backpacks, bedding, blankets, bodysuits, costumes and etc, with a buy rating assigning a 12-month price target of $30.00, indicating an upside of 41.2% from current levels.
Tenneco Inc (NYSE: TEN), engaged in designing, manufacturing and marketing emission control and ride control products and systems for the automotive original equipment market and the aftermarket, was downgraded by Goldman Sachs to sell from neutral by reducing its price target to $55.00 from $62.00, indicating an upside of 2.7% from current levels.
