UPDATE: Jefferies Downgrades McGraw-Hill to Hold on Uncertainty Ahead

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In a report published Thursday, Jefferies analyst David Reynolds downgraded the rating on McGraw-Hill Companies (NYSE: MHP) from Buy to Hold, but reiterated the $51.00 price target.In the report, Reynolds noted, “The MHP business model has delivered financially and seems set to do so again in 2013. And the stock has pushed through our US$51 price target, some 16x 13E adjusted EPS of US$3.20. This, together with the profound uncertainty crystallised by the DoJ action, causes us to move to a Hold. Price target and estimates remain unchanged.”McGraw-Hill Companies closed on Wednesday at $51.81.

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