C&J Energy (CJES -2.7%) is downgraded to Neutral from Buy with a $22 price target (from $28)...

|By:, SA News Editor

C&J Energy (CJES -2.7%) is downgraded to Neutral from Buy with a $22 price target (from $28) at Goldman Sachs, which cites increased E&P focus on cost controls resulting in more commodity-type pressure pumping jobs than those suited to CJES' competitive strengths, resulting in lower than forecast equipment utilization.