This morning, UBS downgraded shares of PetroLogistics (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 (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 (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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