Domtar Corp. (NYSE: UFS : 76.76, 0.14), which is engaged in the design, manufacture and distribution of uncoated free-sheet paper, is downgraded to Hold from Buy with a price target of $80 by analysts at Deutsche Bank. They state that the stock's downgrade is based on more cautious pulp outlook and uncertain macroeconomic environment. Shares of Domtar were down 2.62 percent or $1.97 to trade at $73.32.
Analysts at Deutsche Bank upgrades shares rating of Wausau Paper Corp. (NYSE: WPP : 7.69, 0.21), which manufactures, converts, and sells paper and paper products in the US and internationally, is upgraded to Buy from Hold with a price target of $9. They state that they are confident that the next three to six months will see constructive moves toward unlocking value. Shares of Wausau Paper added 6.91 percent or $0.45 to trade at $6.96.
Valero Energy Corp. (NYSE: VLO : 23.99, 0.61), an independent petroleum refining and marketing company, is raised to Overweight from Equal Weight by analysts at Barclays. They raise the stock's price target to $35 from $31. The former recently completed its purchase of Murphy Oil Corp.'s refinery at Meraux, Louisiana. Shares of Valero gained 0.86 percent or $0.18 to trade at $21.22.
ConocoPhillips (NYSE: COP : 71.79, 1.69), an integrated energy company, is lowered to Underperform from Neutral by analysts at Macquarie. They cut the stock's price target to $67 from $74 amidst reports that Ecuador was seeking $504 million in damages from a subsidiary of ConocoPhillips for alleged environmental damage in the South American country. Shares of ConocoPhillips slipped 0.27 percent or $0.18 to trade at $66.77.
Analysts at Wells Fargo upgrade Chesapeake Energy Corp. (NYSE: CHK : 27.8, 0.51) to Outperform from Market Perform, with a price target range of $38 to $42, up from $26 to $29. They state that through an aggressive acquisition and development strategy, over the last few years Chesapeake has built itself into a dominant natural gas producer in the US. Shares of Chesapeake slipped 1.12 percent or $0.30 to trade at $26.45.
General Mills Inc. (NYSE: GIS), a leading manufacturer and marketer of branded consumer foods, is raised to Buy from Neutral by analysts at Goldman Sachs with a price target of $44, up from $41. They state that they believe General Mills as a high-quality company is well positioned to experience accelerating fundamental strength as its comparison issues fade and it proves an early and sizeable benefactor of abating inflation pressure. Shares of General Mills rose 0.76 percent or $0.30 to trade at $39.61.
