ECN Capital upgraded to Outperform from Market Perform at Raymond James

Raymond James upgraded ECN Capital (ENCF) to Outperform from Market Perform with a C$4 price target following the Q2 results and end of the strategic review. ECN has entered into a strategic relationship with Skyline Champion (SKY), under which Skyline acquire a 19.9% ownership of ECN through a combination of equity and preferred shares for C$185M, the analyst tells investors in a research note. The quarterly results were weak due to industry and company-specific lapses, but Raymond James believes the company is in a stronger position following the review.