Edgewell (EPC - Get Report) was downgraded to neutral from buy at Bank of America/Merrill Lynch. $84 price target. The valuation is less attractive, as the company is trading at 23x expected 2017 earnings, analysts said.
Marathon Oil (MRO - Get Report) was downgraded to neutral from outperform at Credit Suisse. $19 price target. There appears to be more relative momentum in purer Permian Basin plays, Credit Suisse said.
Philip Morris (PM - Get Report) was upgraded to buy from neutral at Goldman Sachs. The company was also placed on the Conviction List with a $114 price target. The company has accelerating earnings momentum and will likely increase the dividend later this month, Goldman said.
Reynolds American (RAI was downgraded to neutral from buy at Goldman Sachs. $53 price target. The valuation is less attractive, as the stock has outperform the market by 26% over the past 15 months, Goldman said.