Notable Analyst Upgrades and Downgrades (NYSE: DFT) (TSX: LIF)

RBC Capital Markets upgraded Labrador Iron Ore Royalty Corp (TSX: LIF), which owns interests in Iron Ore Company of Canada (IOC), which operates an iron mine, to outperform from sector perform with a price target of C$ 35.00, indicating an upside potential of 18% from the current levels. While the rating firm downgraded Champion Iron Mines Ltd (TSX: CHM), an iron exploration and development company, to Sector Perform from Outperform lowering the price target of C$ 1.10 from the earlier target of C$ 1.50 per share.

CIBC World Markets initiated coverage on Dundee Precious Metals Inc (TSX: DPM), an international gold mining company engaged in the acquisition, exploration, development, mining and processing of precious metals, with a sector perform rating and assigned a price target of C$ 12.50 per share, indicating an upside potential of 49% from current levels.

RBC Capital Markets upgraded DuPont Fabros Technology Inc (NYSE: DFT), a real estate investment trust (REIT), to outperform from sector perform with a price target of $28.00, indicating an upside potential of 21% from current levels. On Nov 29, DFT announced a share repurchase program worth $80 million from over the next twelve months. Also, the Board of Directors of the company has increased the cash dividend from $0.15 per share to $0.20 per share for the fourth quarter of 2012. The dividend will be paid on Jan 15, 2013 to shareholders of record as of Dec 28, 2012.
           
Analysts at Jefferies upgraded HMS Holdings Corp (NASDAQ: HMSY), a provider of cost containment services to government and private healthcare payers and sponsors, to Buy from Hold with a price target of $29.00, indicating an upside of 25% from current levels. Analyst David H Windley believes that management has guided 2013 with adequate conservatism, after missing in 2012. He adds, “We are more optimistic on the positive impact of Medicaid expansion in 2014/15 and the high likelihood of Medicare RAC re-procurement. With HMSY down 40% from mid-2012 highs, investors should look to buy, with 4Q providing maybe a brief lower level.”

Macquarie upgraded Brown & Brown Inc (NYSE:BRO), a diversified insurance agency, wholesale brokerage, insurance programs and service organization, to outperform from neutral with a price target of $30 per share indicating an upside potential of 12% from current levels.         

Goldman Sachs initiated coverage on Bazaarvoice Inc (NASDAQ:BV), a provider of social commerce solutions that helps in capturing, displaying and analyzing online word of mouth, including consumer-generated ratings and reviews, questions and answers, stories, recommendations, photographs, videos and other content, with a neutral/attractive rating assigning a 12-months price target of $12.00 indicating an upside potential of 23%.

Meanwhile, Goldman Sachs downgraded QLogic Corp (NASDAQ: QLGC), a designer and supplier of network infrastructure products that provide and manage computer data communication, to sell/neutral from neutral/neutral lowering the price target to $8.00 from the earlier target of $11.00 per share.