Upgrades, Downgrades and Target Changes - Jun 03 2014

Company	Rating/Target Change
Calfrac Well Services	CIBC cuts target to C$22.50 from C$45; sector outperformer
Centerra Gold	BMO cuts target to C$5 from C$8.50; rating outperform (speculative)
Centerra Gold	Scotia cuts target to $6.5 from $8
Enerflex Ltd	CIBC raises price target to C$23 from C$21; rating sector performer
Enerflex Ltd	Scotia raises target to $33 from $32
Enerflex Ltd	TD Securities raises to buy from hold; target to C$22 from C$19
Enerflex Ltd	Raymond James raises target to C$20 from C$19; outperform ratin
Gluskin Sheff + Associates	CIBC cuts target to C$33.50 from C$34.50
Gluskin Sheff + Associates	RBC raises target to C$39 from C$38; rating outpe
Gluskin Sheff + Associates	TD Securities raises target price to C$37 from C$
Nordion Inc	CIBC raises target to C$14.25 from C$13.50; sector underperforme
Saputo Inc	RBC raises target price to C$61 from C$56; rating outperform
Transforce Inc	CIBC raises target to C$29 from C$28.25; sector outperformer
Transforce Inc	LB Securities raises to buy rating
Transforce Inc	Scotia raises target to $24.5 from $24
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