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:
AT&T (NYSE:T): Citigroup downgraded its rating on this company from Buy to Neutral and changed its price target to $39.00.
Six Flags Entertainment Corp (NYSE:SIX): TheStreet downgraded its rating on this company from Buy to Hold.
The Travelers Companies (NYSE:TRV): Drexel Hamilton downgraded its rating on this company from Buy to Hold.
Magnum Hunter (NYSE:MHR): Capital One downgraded its rating on this company from Add to Neutral.
Molex (NASDAQ:MOLX): Cross Research downgraded its rating on this company to Hold.
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