Precision Drilling Downgraded to Market Perform and 3 Downgraded Ratings Issued Today

Stock upgrades and downgrades are a controversial part of Wall Street. Despite regulations, many banks and firms still have a positive bias toward current clients and companies desired as future clients. In addition, Wall Street analysts are straight-up biased to the buy side. The percentage of sell recommendations is normally below 15 percent!

Regardless, upgrades and downgrades move stocks in the short-term. They fall into our CHEAT SHEET framework category ‘C = Catalyst for a Stockʼs Movement’. Here are catalysts you must know today:

Rowan Cos (NYSE:RDC): Howard Weil downgraded its rating on this company from Focus Stock to Market Outperform and changed its price target to $44. Current Price $33.79

RDC

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Plains Exploration (NYSE:PXP): Howard Weil downgraded its rating on this company from Market Outperform to Market Perform and changed its price target to $50. Current Price $47.49

PXP

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Phillips 66 (NYSE:PSX): Howard Weil downgraded its rating on this company from Market Outperform to Market Perform and changed its price target to $61. Current Price $51.37

PSX

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Precision Drilling (NYSE:PDS): Howard Weil downgraded its rating on this company from Market Outperform to Market Perform and changed its price target to $11. Current Prices $8.85

PDS

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