This morning, UBS downgraded shares of PetroLogistics (NYSE:PDH) from buy to neutral as the oil to gas ratio is expected to decline over the coming quarters. With the downgrade, UBS set a $12 price target. Shares of PDH were lower by 2.8% on Wednesday.
Williams Capital downgraded shares of Pepco (NYSE:POM) from buy to hold as the expectations for rate increases are unrealistic. With the downgrade, Williams set a $21 price target. Shares of Pepco were lower by 1.1% following the downgrade.
And Sterne Agee downgraded shares of Parexel (NASDAQ:PRXL) to an underperform rating as the company's guidance for operating margins appear too lofty. In the report, Sterne Agee set a $36 price target. Shares of Parexel were lower by more than 3%.
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