Upgrades, Downgrades and Target Changes - Dec 16 2013

Company	Rating/Target Change
Alaris Royalty	NBF cuts target priceto C$35 from C$39
Alaris Royalty	RBC cuts target price to C$42 from C$44; rating outperform
H&R Real Estate Investment	NBF starts with outperform rating; target C$25.25
Secure Energy Services	RBC raises target to C$20 from C$17; sector perform
Teranga Gold	RBC raises target price to C$1.30 from C$1.20; rating outperform
Twin Butte Energy	CIBC reinstates with sector performer rating
Twin Butte Energy	NBF resumes coverage with outperform; target of C$3
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