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:
Best Buy Co. (NYSE:BBY): Deutsche Bank upgraded its rating on this company from Hold to Buy and changed its price target to $28.00.
AU Optronics (NYSE:AUO): Topeka Capital Markets upgraded its rating on this company from Hold to Buy.
Auxilium Pharma (NASDAQ:AUXL): Stifel Nicolaus upgraded its rating on this company from Hold to Buy and changed its price target to $19.00.
Deutsche Bank (NYSE:DB): JPMorgan Chase upgraded its rating on this company from Neutral to Overweight.
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