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Officials and media on a tour cast shadows on a solar panal as Enbridge Inc and First Solar, Inc. held a grand opening celebration of the completion of the Sarnia Solar Project, the largest operation photovoltaic facility in the world, in Sarnia, Ontario, Monday, October 4, 2010.Dave Chidley/The Canadian Press

Inside the Market's roundup of some of today's key analyst actions. This file will be updated often during the trading day so check back for new details.

The decision by Torc Oil & Gas Ltd. to increase its position in Saskatchewan raises its valuation and reduces its risk profile, according to Canaccord Genuity analyst Anthony Petrucci.

In April, Torc announced it has acquired assets producing 4,750 barrels of oil per day (boe) in southeast Saskatchewan and Manitoba from Surge Energy Inc. for $430-million. The deal will be funded by concurrent financings and debt.

Mr. Petrucci said the acquisition compliments the company's existing asset in Saskatchewan, which he views as its "primary driver of cash flow and value." It is expected to improve Torc's corporate efficiency.

"In our view, TOG boasts the best oil-weighted dividend model in the junior space given its low decline, high netback asset base and disciplined growth strategy," said Mr. Petrucci.

He maintained his "buy" rating and raised his price target to $13.50 from $12 (Canadian). The analyst consensus price, according to Thomson Reuters, is $12.28.

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Kinaxis Inc. can increase both its revenue and earnings per share annually by at least 20 per cent, said CIBC World Markets analyst Todd Coupland.

Mr. Coupland, who initiated coverage of the stock with a "sector outperformer" rating, said that expectation falls in line with Kinaxis' goal to increase its growth rate above 20 per cent. He pointed to a track record that includes sales growth averaging 24 per cent in the last three years and earnings before interest, taxes, depreciation and amortization margins averaging 23 per cent during the same period, both being consistent with its targets.

"The [supply chain management] market opportunity supports its long-term goal for revenue of $1-billion as companies convert to [software as a service] models," said Mr. Coupland. "It is off to a good start with short-term deferred revenue up 53 per cent in Q1/2015. Kinaxis has a mature, stable software-as-a-service product, and is well-positioned in multiple verticals including high tech and tech manufacturing. Emerging segments, including aerospace & defense, industrial, life sciences and automotive, should yield incremental opportunities."

He added: "Our forecast is supported by recurring revenue. Kinaxis starts each year with 80 per cent of its revenue booked. The visibility is based on close to 100 customers committed to the RapidResponse platform, with multiple applications becoming an integral part of their business planning. Incremental revenue will come from a long-term sales funnel that should close three to five new customers per year. "

Mr. Coupland set a price target of $40. The analyst consensus target is $27.73.

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Desjardins Securities analyst Michael Markidis said an outright sale of the asset base of WPT Industrial Real Estate Investment Trust is a "highly probable event."

The analyst forecasts an offer price of $13-14 (U.S.) per unit. Since a May 18 announcement by the REIT that it was beginning the process of exploring strategic alternatives, the unit price has increased by almost 15 per cent. Accordingly, Mr. Markidis downgraded his rating from "buy" to "hold."

"The timing of the announcement caught us by surprise, and has led some to speculate that WPT has already attracted an offer, he said. "We see a high probability that the review process will ultimately result in a sale of the company."

He increased his price target to $13.25 from $12.25 (U.S.). The analyst consensus price is $16.04.

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Morgan Stanley analyst Joseph Moore upgraded Marvell Technologies Group from "equalweight" to "overweight," citing the company's enthusiasm for its new Final Level Cache wireless technology.

The upgrade comes after a stock selloff Friday, a day after the chip maker reported a 24-per-cent decline in revenue to $724.3-million year over year. Its adjusted operating income fell 68.5 per cent during the same period to $33.9-million.

"Our view is that the push around the new technology clarifies the management decision-making progress, and is the reason management has been expressing guarded optimism despite more flexible language on long term investment. Either FLC will drive incremental revenues, or wireless investment will come down," said Mr. Moore, according to StreetInsider.com.

Mr. Moore added: "`The company's core claim that FLC technology could reduce a high end android smartphone from 3 GB DRAM content to 0.5 GB while offering higher performance would certainly seem compelling, if true, as it would drive $15+ in bill of materials cost savings per phone, all else being equal.  We need to be skeptical until we hear it from customers, which we haven't. But we do note that Marvell has driven substantial leaps in technology in similar areas before, notably hard drive read channel. $15 in cost savings per phone is substantial enough to give Marvell a strong foothold, should their claims prove accurate."

He also raised his price target to $17.50 from $15 (U.S.). The analyst consensus is $15.08.

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After a visit to the operations in Ghana of Gold Fields Ltd. (GFI-N), Deutsche Bank analyst Patrick Mann upgraded the holding company to "hold" from "sell."

"We have a more positive view on Ghana (one third of group production) after the 18-21 May 2015 site visit," said Mr. Mann, according to StreetInsider.com. "The grade profile at Tarkwa is better than we had modelled and Damang can lower costs, and fund exploration and capital by switching to contractor mining."

HSBC analyst also Derryn Maade upgraded the stock from "hold" to "buy" while maintaining a price target of $4.16 (U.S.)

According to Bloomberg, the average analyst price target is $4.26.

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In other analyst actions:

Klondex Mines Ltd. (KDX-T) was rated new "Buy" at Canaccord Genuity. The 12-month target price is $5 (Canadian) per share.

Balmoral Resources Ltd. (BAR-T) was rated new "Speculative Buy" at Mackie Research Capital. The 12-month target price is $1.50 (Canadian) per share.

Boulder Energy Ltd. (BXO-T) was rated new "Buy" at TD Securities. The 12-month target price is $15.50 (Canadian)per share.

Granite Oil Corp. (GXO-T) was rated new "Buy" at TD Securities. The 12-month target price is $8.50 (Canadian) per share.

Arch Coal Inc. (ACI-N) was rated new "Underperform" at Credit Suisse. The target price is 50 cents (U.S.) per share.

ANN Inc. (ANN-N) was downgraded to "Hold" from "Buy" at Jefferies. The 12-month target price is $47 (U.S.) per share.

Bill Barrett Corp. (BBG-N) was raised to "Accumulate" from "Hold" at KLR Group. The target price is $11 (U.S.) per share.

Blueprint Medicines Corp. (BPMC-Q) was rated new "Market Outperform" at JMP Securities. The 12-month target price is $54 (U.S.) per share.

Black Stone Minerals LP (BSM-N) was rated new "Sector Perform" at Scotia Howard Weil. The 12-month target price is $22 (U.S.) per share.

Peabody Energy Corp. (BTU-N) was rated new "Neutral" at Credit Suisse. The target price is $4.50 (U.S.) per share.

Chico's FAS Inc. (CHS-N) was raised to "Buy" from "Neutral" at Mizuho Securities USA . The 12-month target price is $20 (U.S.) per share.

Cloud Peak Energy Inc. (CLD-N) was rated new "Outperform" at Credit Suisse. The target price is $11 (U.S.) per share.

DCT Industrial Trust Inc. (DCT-N) was raised to "Neutral" from "Underperform" at Credit Suisse. The target price is $37 (U.S.) per share.

Deere & Co. (DE-N) was downgraded to "Neutral" from "Outperform" at Robert Baird. The 12-month target price is $98 (U.S.) per share.

Enviva Partners LP (EVA-N) was rated new "Outperform" at Raymond James. The 12-month target price is $26 (U.S.) per share.

East West Bancorp Inc. (EWBC-Q) was downgraded to "Market Perform" from "Outperform" at BMO Capital Markets. The 12-month target price is $44 (U.S.) per share.

Expedia Inc. (EXPE-Q) was raised to "Market Outperform" from "Market Perform" at JMP Securities. The 12-month target price is $130 (U.S.) per share.

First Solar Inc. (FSLR-Q) was downgraded to "Underperform" from "Sector Perform" at RBC Capital. The 12-month target price is $34 (U.S.) per share.

Fortinet Inc. (FTNT-Q) was raised to "Buy" from "Hold" at Needham & Co. The 12-month target price is $48 (U.S.) per share.

Huntington Bancshares Inc. (HBAN-Q) was downgraded to "Underperform" from "Neutral" at Macquarie. The 12-month target price is $10 (U.S.) per share.

Health Care REIT Inc. (HCN-N) was raised to "Buy" from "Neutral" at Mizuho Securities USA. The target price is $80 (U.S.) per share.

Homeinns Hotel Group (HMIN-Q) was downgraded to "Neutral" from "Buy" at GuoTai JunAn. The target price is $28.50 (U.S.) per share.

Healthcare Realty Trust Inc. (HR-N) was raised to "Buy" from "Neutral" at Mizuho Securities USA. The target price is $28 (U.S.) per share.

InterXion Holding NV (INXN-N) was raised to "Buy" from "Hold" at Stifel. The 12-month target price is $34 (U.S.) per share.

Koppers Holdings Inc. (KOP-N) was raised to "Overweight" from "Equal- weight" at First Analysis. The 12-month target price is $32 (U.S.) per share.

Macerich Co. (MAC-N) was downgraded to "Underperform" from "Neutral" at Credit Suisse. The target price is $77 (U.S.) per share.

PacWest Bancorp (PACW-Q) was rated new "Outperform" at BMO Capital Markets. The 12-month target price is $51 (U.S.) per share.

Pebblebrook Hotel Trust (PEB-N) was raised to "Outperform" from "Neutral" at Robert Baird and Credit Suisse. The 12-month target price is $49 (U.S.) and $50 per share, respectively.

Party City Holdco Inc. (PRTY-N) was rated new "Outperform" at Credit Suisse and new "Overweight" at JPMorgan. The target price is $26 (U.S.)  per share for both.

Regency Centers Corp. (REG-N) was downgraded to "Underperform" from "Neutral" at Credit Suisse. The target price is $67 (U.S.) per share.

comScore Inc. (SCOR-Q) was rated new "Buy" at Needham & Co. The 12-month target price is $66 (U.S.)  per share.

Tuniu Corp. (TOUR-Q) was downgraded to "Neutral" from "Outperform" at Credit Suisse. The target price is $20 (U.S.)  per share.

With files from Bloomberg News

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