Raymond James Upgrades Tuscany International to Outperform (TID)

Posted by LUSA Staff on Aug 21st, 2012

Tuscany International (TSE: TID) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday.

Separately, analysts at Stonecap Securities cut their price target on shares of Tuscany International from $1.10 to $0.75 in a research note to investors on Friday, August 3rd. They now have an “outperform” rating on the stock.

Shares of Tuscany International traded up 18.87% during mid-day trading on Tuesday, hitting $0.315. The company’s market cap is $109.5 million.

Tuscany International Drilling Inc. (Tuscany) is engaged in the business of providing contract drilling and workover services to the oil and gas industry in South America and central Africa.

http://localizedusa.com/2012/08/21/raymond-james-upgrades-tuscany-international-to-outperform-tid/

So it looks like Raymond James was forced to upgrade their August 17th evaluation on TID from sector perform to sector outperform in this latest news. Here is Raymond James original derisive report that they issued on August 17 on Tuscany International drilling.

http://www.andrewjohns.ca/sites/default/files/TID_20120817%20A%20Lower%202Q%20Plus%20Two%20More%20Contract%20Terminations%20Conspire%20to.pdf

Cheers; Scott