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:
Brunswick Co. (NYSE:BC): Longbow Research downgraded its rating on this company from Buy to Neutral.
Bank of Hawaii Co. (NYSE:BOH): RBC Capital downgraded its rating on this company from Outperform to Sector Perform.
Calamos Asset Management, (NASDAQ:CLMS): Keefe, Bruyette & Woods downgraded its rating on this company from Market Perform to Underperform.
Concur Technologies (NASDAQ:CNQR): Oppenheimer downgraded its rating on this company from Market Perform to Underperform.