Notable Analyst Rating Changes 8/16: (SHEN) (DVN) (CHK) Upgraded; (RUBI) (PSG) (JPM) Downgraded

August 16, 2016 10:19 AM EDT

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UPGRADES
Raymond James upgrades Shenandoah Telecommunications (Nasdaq: SHEN) from Market Perform to Outperform with a price target of $33.

Devon Energy (NYSE: DVN) Added to US1 List at BofA/Merrill Lynch.

CapitalOne raises Chesapeake Energy (NYSE: CHK) from Underweight to Equal-weight.

BofA/Merrill Lynch lifts Marathon Oil (NYSE: MRO) from Neutral to Buy with a price target of $21.

For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades

DOWNGRADES
First Analysis downgraded The Rubicon Project, Inc. (NYSE: RUBI) from Overweight to Equal Weight and moves its price target from $22 down to $10.50.

Wedbush downgraded Performance Sports Group (NYSE: PSG) from Outperform to Neutral while reducing its price target from $5 to $2.50. Click Here for more color.

Bernstein downgraded JPMorgan (NYSE: JPM) from Outperform to Market Perform with a price target of $67.

Deutsche Bank downgraded Ocean Rig UDW (Nasdaq: ORIG) from Buy to Hold and moves its price target from $4 down to $1. Click Here for more color.

For daily real-time Downgrades go to http://www.streetinsider.com/downgrades

NEW COVERAGE
Wells Fargo initiates Continental Resources (NYSE: CLR) with an Outperform rating.

Cowen starts Broadwind Energy (Nasdaq: BWEN) with an Outperform rating and a price target of $6.

Jefferies assumes Grubhub (NYSE: GRUB) with a Hold rating and $43 price target. Click Here for more color.

Oppenheimer begins IBM (NYSE: IBM) with a Perform rating. Click Here for more color.

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Deutsche Bank, JPMorgan, Raymond James, Jefferies & Co, Merrill Lynch, Bank of America, Sanford C. Bernstein, First Analysis, Notable Analyst Rating Changes, Cowen & Co, Wells Fargo

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