Upgrades, Downgrades and Target Changes - May 13 2014

Company	Rating/Target Change
Absolute Software	BMO cuts target price to C$8.50 from C$9; rating outperform
Alliance Grain Traders	CIBC cuts target to C$19.50 from C$20; sector performer
Alliance Grain Traders	Raymond James raises target to C$23 from C$21
Bird Construction Inc	TD Securities raises price target to C$15.50 from C$14.50
BMTC Group	BMO cuts target price to C$15 from C$16; rating market perform
Canadian Apartment REIT	Rayond James cuts to market perform from outperform
Ensign Energy Services	Barclays cuts target to C$17 from C$18; equal weight
Entrec	Canaccord Genuity raises to buy from hold rating
GuestLogix Inc	LB Securities cuts to hold rating
Inter Pipeline	National Bank Financial raises target price to C$33 from C$32
Inter Pipeline	Canaccord Genuity cuts to hold from buy
Interrent Real Estate Investment :	CIBC cuts target price to C$6.25 from C$6.50
KP Tissue Inc	RBC cuts target price to C$18 from C$19; rating outperform
Northland Power	NBF raises target to C$18 from C$17.50; rating sector perform
Northwest Healthcare Properties	Dundee cuts target to C$11.30; rating neutral
Parex Resources Inc	Mackie Research raises target to C$12.00 from C$10.75; hold
Pengrowth Energy Corp	Canaccord Genuity cuts target price to C$8.75; rating buy
Retrocom REIT	TD Securities cuts price target to C$5 from C$5.50; rating hold
Rock Energy Inc	Haywood Securities raises target price by C$1.50 to C$9.50; buy
Pembina Pipeline	National Bank Financial raises target price to C$49 from C$48
Pembina Pipeline	Canaccord Genuity raises target price to C$48 from C$44
Pembina Pipeline	RBC raises target price to C$48 from C$47; rating outperform
Pembina Pipeline	Haywood Securities raises target price by C$3 to C$50; buy
Pembina Pipeline	FirstEnergy raises price target to C$48 from C$46
Shawcor Ltd	BMO raises target price to C$65 from C$54; rating outperform
SNC-Lavalin Group	RBC raises to outperform from sector perform rating
Total Energy Services	RBC raises target price to C$23 from C$22; sector perform
Total Energy Services	Canaccord Genuity raises target to C$27 from C$26; buy
Total Energy Services	Paradigm Capital raises target to C$23 from C$22; hold
Total Energy Services	TD Securities ups to buy from hold; target to C$26 from C$25
Total Energy Services	FirstEnergy cuts price target to C$25 from C$26
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