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 NYSE:ABX): JPMorgan Chase downgraded its rating on this company from Overweight to Neutral.
Arch Capital (NASDAQ:ACGL): Macquarie downgraded its rating on this company from Outperform to Neutral.
Arch Coal (NYSE:ACI): Citigroup downgraded its rating on this company from Buy to Neutral and changed its price target to $6.00.
American Electric Power (NYSE:AEP): Wells Fargo downgraded its rating on this company from Outperform to Market Perform.
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