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:
Cabot Oil & Gas (NYSE:COG): Raymond James upgraded its rating on this company from Market Perform to Outperform.
Diamond Offshore Drilling (NYSE:DO): TheStreet upgraded its rating on this company from Hold to Buy.
Energy Partners, Ltd. (NYSE:EPL): Capital One upgraded its rating on this company from Add to Strong-Buy.
Eagle Materials (NYSE:EXP): Stephens upgraded its rating on this company from Equal Weight to Overweight.