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Exteriors of the Lululemon shop at 153 Cumberland St. in Toronto's Yorkville neighbourhood on Feb. 6, 2014.Fred Lum/The Globe and Mail

Inside the Market's roundup of some of today's key analyst actions. This file will be updated during the trading day.

Detour Gold Corp.'s evolution to "mid-tier producer status" is coming into focus, said Raymond James analyst Phil Russo, who upgraded Detour's stock to "strong buy" from "outperform," while raising his price target to $16 (Canadian) from $14.

The company's Detour Lake mine in northeastern Ontario is "within sight of optimal levels," Mr. Russo said.

"Investors should buy Detour today on continued execution momentum and approaching free cash flow for maximum share price reward," he said. "No mining stock is without volatility, we believe Detour's is set to diminish over the course of the next 12 months as it re-rates to mid-tier producer status."

The analyst consensus price target over the next year is $12.59, according to Thomson Reuters data.


An overconcentration of GasFrac Energy Services Ltd.'s customer base has left the company vulnerable to big swings in its profitability, said Raymond James analyst Andrew Bradford, who downgraded GasFrac stock to "underperform" from "market perform," and lowered his price target to $1.80 (Canadian) from $1.90.

The risk of having too few customers was evident in the company's first-quarter revenues, which fell to zero in the U.S. and dropped by almost one-half in Canada from the previous quarter, Mr. Bradford said.

"We continue to believe that until the profitability level materially increases – or until we have some visibility that it will, an investment in GFS should be considered highly speculative," he said.

The consensus price target is $1.88.


An oversupplied global uranium market will put pressure on Paladin Energy Ltd.'s finances and its ability to repay $300-million (U.S.) of convertible bonds due November 2015, RBC Dominion Securities analyst Chris Drew said.

The announced restart of Japanese reactors led to some optimism that the uranium market would rebalance, but high inventories could keep the supplies high and prices low through 2020, Mr. Drew said.

"Balance sheet risk remains as the company does need an improved uranium price to ensure it can meet major debt maturities," he said. "However, with our muted view on uranium over the medium term, we believe a funding solution is required."

Mr. Drew is lowering his rating on Paladin stock to "underperform" from "sector perform," while decreasing his price target to 30 cents (Australian) from 50 cents. The analyst consensus price target over the next year is 61 cents, according to Thomson Reuters.


Analysts have been busy hiking Canaccord Genuity Group Inc.'s target price after the company posted a second consecutive strong quarter.

BMO Nesbitt Burns hiked its price target on Canaccord Genuity to $12 (Canadian) from $8 and maintained a "market perform" rating. CIBC hiked its target on Canaccord Genuity to $14.50 from $10.50 and maintained a "sector outperformer" rating.

According to RBC Dominion Securities analyst Geoffrey Kwan, inclusion to a major TSX index could be in the cards for the stock.

"We believe a sustained slightly higher share price ($11.25 - $11.50) could see Canaccord added to the S&P/TSX Composite Index in September 2014, which would likely result in increased share demand (e.g., index investor-driven demand) and a more diversified shareholder base," he said.

Mr. Kwan maintains his "outperform" rating and is boosting his price target by a dollar to $13 (Canadian).

Elsewhere, KBW raised its price target to $12 (Canadian) from $10 and maintained a "market perform" rating.

The analyst consensus price target is $12.25.


In other analyst actions:

Sterne Agee upgraded Lululemon Athletica to "neutral" from "underperform." The move was tied to valuation after a recent pullback in shares, and the research firm warned that same-store sales are unlikely to exceed positive mid single digits until 2016. It withdrew its earlier price target of $43 (U.S.).

TD Securities analyst Vince Valentini downgraded three Canadian telecoms - Shaw Communications, Telus and Manitoba Telecom Services - to "hold" from "buy" but maintained his price targets on all three. Shaw has a $29 (Canadian) price target, Telus $45 and MTS $34.

Clarus Securities raised its price target on AutoCanada to $95 (Canadian) from $86 and maintained a "buy" rating after the company raised its acquisition guidance to an addition eight to 10 deaderships over the next 12 months.

BMO Nesbitt Burns hiked its price target on Canaccord Genuity to $12 (Canadian) from $8 and maintained a "market perform" rating. CIBC hiked its target on Canaccord Genuity to $14.50 from $10.50 and maintained a sector outperformer rating.

BMO Nesbitt Burns hiked its price target on Apple to $685 (U.S.) from $610 and maintained an "outperform" rating.

RBC Dominion Securities upgraded Bankrate to "outperform" from "sector perform" and maintained a $21 (U.S.) price target.

SunTrust Robinson Humphrey downgraded Zillow to "neutral" from "buy" with an unchanged price target of $110 (U.S.).

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