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:
Bank of America (NYSE:BAC): Morgan Stanley upgraded its rating on this company from Equal Weight to Overweight.
American Midstream Partners LP (NASDAQ:AMID): Raymond James upgraded its rating on this company from Underperform to Market Perform.
Atlantic Power Corp (NYSE:AT): RBC Capital upgraded its rating on this company from Underperform to Sector Perform.
General Cable Co. (NYSE:BGC): Sidoti upgraded its rating on this company from Neutral to Buy.