Notable Analyst Upgrades and Downgrades (NYSE: EV) (TSX: PSN)

Scotia Capital upgraded Poseidon Concepts Corp (TSX: PSN), an oil and natural gas service and supply company, to sector perform from sector underperform with a price target of C$ 5.00 indicating an upside potential of 28.5% from current levels. During its third quarter of 2012, PSN introduced three major new products and services which include an innovative, patent-pending tank heating system, a proprietary tank monitoring system, and “pump-and-pipe” water transfer services are now active in the field and are generating revenues.

Scotia Capital re-initiated coverage on CCL Industries Inc (TSX: CCL/B), a developer of label solutions for specialty food and beverage sectors and suppliers of aluminum containers and plastic tubes in North America, with a buy rating and assigned a price target of C$ 55.00 per share, indicating an upside potential of 49.5% from current levels. Recently, CCL/B announced that it has signed an agreement to acquire John Watson & Co. Ltd., a privately owned label converter located in Glasgow, Scotland through purchase of shares of the target company. Transaction details will be disclosed following completion of the planned transaction in early 2014.

RBC Capital Markets initiated coverage on Ivanplats Ltd (TSX: IVP), a mineral exploration and development company with properties located in Africa, assigning a 12-month target price of C$ 5.75 indicating an upside potential of 23.7% from current levels.  

Goldman Sachs upgraded Eaton Vance Corp (NYSE: EV), engaged in managing investment funds and providing investment management and counseling services to high-net-worth individuals and institutions, to neutral/neutral from sell/neutral with a price target of $29.50 per share. The rating firm believes that the cash inflow for the company will improve as large capital outflow lightens, retail interest in tax-managed strategies will grow and EV leverages long-term benefits from the Hexavest/Clifton acquisitions.

Analysts at Macquarie upgraded Old National Bancorp (NYSE: ONB), a financial holding company that provide a range of services, including commercial and consumer loan and depository services, investment and brokerage services, lease financing and other traditional banking services, to outperform from neutral with a price target of $13.00, indicating an upside of 10% from current levels.

Imperva Inc (NYSE:IMPV), an U.S based company that develops data security solutions for business data in the data center, was initiated by Oppenheimer & Co with a buy rating. The 12-month price target of $37.00 per share was assigned, indicating an upside potential of 19% from current levels.

Goldman Sachs downgraded Janus Capital Group Inc (NYSE:JNS), a provider of investment management, administration, distribution related services and Myriad Genetics Inc (NASDAQ:MYGN), a molecular diagnostic company, to a sell/neutral rating from neutral/neutral lowering the price target to $7.00 and $26.00 respectively from the earlier target of $8.00 and $34.00 respectively. The rating firm believes that the soft relative equity fund performance and tougher INTECH performance comparisons reflected by JNS suggest more outflows. Further, it foresees multiple compressions as investors refocus on soft fundamentals led by a technical tailwind from Dai-ichi's purchase of a 20% stake rolls off.

Goldman Sachs downgraded MYGN quoting that their buy thesis on the stock is now impaired after the Supreme Court of the U.S agreed to hear the case against the company regarding patentability of genes.