NEW YORK (TheStreet) -- RATINGS CHANGES
Denbury was downgraded at Credit Suisse to neutral from outperform. Investment thesis invalidated due to lower oil prices, Credit Suisse said. Twelve-month price target was lowered to $16 from $19. Recent resignation of two top officers signals that a quick turnaround is unlikely, Credit Suisse said.
McGraw Hill (MHFI) was upgraded to buy at Benchmark. Twelve-month price target is $106. Outlook is improved, following the business restructuring, Benchmark said.
Pinnacle Foods (PF) was upgraded at Deutsche Bank to buy. Twelve-month price target is $37. Company is gaining share, improving productivity and trades at an attractive valuation, Deutsche said.
Phillips 66 (PSX) - Get Report was upgraded at Credit Suisse to outperform from neutral. Oil weakness creates entry point as lower prices do not affect longer-term forecasts, or management's ability to build a larger and higher multiple business in a few years, Credit Suisse said.
Transocean Partners (RIGP) was initiated at Citigroup with a buy rating. Although high risk, the shares' underperformance have been underlined by belief that weakness in demand for offshore drilling rigs will continue for a sustained period of time, Citigroup said.
TubeMogul (TUBE) was downgraded at Citigroup to neutral from buy. Company remains a best-of-breed digital advertising solution, but shares have been meaningfully rerated since the IPO. After two consecutive positive earnings reports, valuation now reflects positive fundamental view, Citigroup said.
Editor's note: To see analysts' stock comments and changes to price targets and earnings estimates, go to "Street Notes", which is available only to Real Money subscribers. To find out how to become a subscriber, please click here.
This article was written by a staff member of TheStreet.