Aveo Pharmaceuticals Gets Booed and 4 More Analyst Downgrades To Know
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:
Aveo Pharmaceuticals (NASDAQ:AVEO): RBC Capital downgraded its rating on this company from Outperform to Sector Perform and changed its price target from $15.00 to $6.00.
Petsmart (NASDAQ:PETM): Oppenheimer downgraded its rating on this company from Outperform to Market Perform and changed its price target to $70.00.
RBS (NYSE:RBS): Investec downgraded its rating on this company to Sell and changed its price target to GBX 300.
Elizabeth Arden (NASDAQ:RDEN): BMO Capital Markets downgraded its rating on this company from Outperform to Market Perform and changed its price target to $46.00.
Garmin Ltd. (NASDAQ:GRMN): TheStreet downgraded its rating on this company from Buy to Hold.
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