NEW YORK ( TheStreet) -- CHANGE IN RATINGS
Adtran (ADTN) downgraded at BofA/Merrill to Underperform, Bank of America/Merrill Lynch said. $15 price target. Company is seeing lower domestic spending and facing increased regulatory pressure.
Atwood Oceanics (ATW) upgraded at Guggenheim from Neutral to Buy, Guggenheim said. $57 price target. Company continues to reinvest free cash flow back into its fleet.
Cameron (CAM) rated new Buy at Lazard. $69 price target. Copany has good visibility and should deliver solid offshore growth.Devon Energy (DVN) rated new Outperform at Credit Suisse. $74 price target. Oil sands projects should help drive near-term growth. FMC (FMC) downgraded at BofA/Merrill to Neutral, Bank of America/Merrill Lynch said. Valuation call, based on a $59 price target. FMC Technologies rated new Buy at Lazard. $60 price target. Company can continue to deliver record subsea results. Pfizer (PFE - Get Report) rated new Outperform at BMO. $30 price target. Company offers stability in uncertain times. Plains Exploration (PXP) rated new Neutral at Credit Suisse. Valuation call, based on a $45 price target. United Technologies (UTX) downgraded at Oppenheimer to Perform from Outperform, Oppenheimer said. Not sure margin expansion is possible in 2013.