Stock upgrades and downgrades are a controversial part of Wall Street. Despite regulations, many banks and firms still have a positive bias toward current clients and companies desired as future clients. In addition, Wall Street analysts are straight-up biased to the buy side. The percentage of sell recommendations is normally below 15 percent!
Regardless, upgrades and downgrades move stocks in the short-term. They fall into our CHEAT SHEET framework category ‘C = Catalyst for a Stock’s Movement’. Here are catalysts you must know today:
ITT Educational (NYSE:ESI): Barclays downgraded its rating on this company from Equal Weight to Underweight and changed its price target from $27 to $15. Current Price $15.02
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