NEW YORK (TheStreet) -- RATINGS CHANGES
Chevron (CVX) - Get Report was downgraded at Goldman Sachs to sell. Twelve-month price target is $99. Company is burning through free cash flow, which should limit dividend growth in the coming quarters, Goldman Sachs said.
DeVry Education Group (DV) was downgraded at Deutsche Bank to hold from buy. Twelve-month price target is $34. With trends across the U.S., for-profit industry getting worse, and it's hard to see how the market will change its negative view on DeVry Undergrad, Deutsche Bank said.
Owens-Illinois (OI) - Get Report was upgraded at Bank of America/Merrill Lynch to neutral from underperform. Twelve-month price target is $28. Vitro deal should boost growth, Bank of America/Merrill Lynch said.
Seventy Seven Energy (SSE) was upgraded to buy from hold at Jefferies. Twelve-month price target is $10. Jefferies' meetings with SSE CFO Cary Baetz and investors reinforced their comfort that SSE is nearing a low point in activity, even with a softer Chesapeake Energy (CHK) - Get Report demand outlook. This view, along with better than previously understood cash-flow generation and continued favorable bias regarding long-term value given SSE's rig fleet capability, prompts upgrade.
Toll Brothers (TOL) - Get Report was upgraded at Sterne Agee CRT to neutral from underperform. Twelve-month price target is $34. News flow should be more positive in the coming quarters, Sterne Agee CRT said.
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This article was written by a staff member of TheStreet.