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Upgrades and Downgrades: Lowe’s, Teva, Plug Power

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Pamela Ritchie reports on today's upgrades and downgrades - including Lowe's (LOW-N), Teva Pharmaceutical (TEVA-N), and Plug Power (PLUG-Q).

Below is a summary of research actions on Canadian companies reported by Reuters.

  • Algonquin Power & Utilities Corp. (AQN-T): CIBC starts with sector performer rating, says the company has been through a hyper growth phase in revenue, asset and EBITDA
  • Black Diamond Group Ltd. (BDI-T): CIBC raises target price to $33 from $32 after the company's fourth-quarter results beat estimates
  • Cervus Equipment Corp. (CVL-T): CIBC cuts target price to $24 from $25 considering declining EBITDA margins in its fourth-quarter results and its expected flat sales of ag-equipment in 2014
  • Empire Company Ltd. (EMP.A-T): CIBC cuts target price to $80 from $83 after the company reported third-quarter results below estimates, sees a difficult 2014 for the retail industry
  • Transat AT Inc. (TRZ.A-T): CIBC cuts target price to $12.25 from $14.50 on the company's lower-than-expected first-quarter results and on the expectation of a weak second quarter
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