NEW YORK (TheStreet) -- RATINGS CHANGES
Anadarko Petroleum (APC) - Get Report was upgraded to buy from hold by Jefferies, which set a $88 price target, citing more confidence in a deep, future Delaware Basin (Wolfcamp) development, the potential for opportunistic monetizations (i.e., Mozambique, WGP shares) and a now more attractive valuation.
EOG Resources (EOG) - Get Report was upgraded to hold from underperform by Jefferies, which set an $80 price target. There remains risk to 2016 Street oil growth expectations for EOG, but the shares now look to better factor in a slower ramp, Jefferies said.
Noble Energy (NBL) - Get Report was upgraded to hold from underperform by Jefferies, which set a $40 price target. Recent under-performance leaves the shares better reflecting the reinvestment risk in both the replacement of domestic U.S. reserves production and the potential for unfavorable contract changes/longer lead times in NBL's Israel gas projects, Jefferies said.
Shake Shack (SHAK) - Get Report was downgraded to underweight from equal weight by Morgan Stanley, which set a $38 price target. While a powerful emerging brand executing on all its early commitments to its investors, the company has a stock that is overpriced, potentially reflecting both technical market dynamics as well as "brand"-related optimism that is not supported by fundamentals, Morgan Stanley said.
Tesla (TSLA) - Get Report was downgraded to hold from buy by Deutsche Bank, which set a $280 price target. Deutsche Bank said the downgrade is a valuation call, saying that although Tesla will become dominant player in battery systems stationary storage, the shares already reflect that opportunity.