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:
Chipotle Mexican Grill (NYSE:CMG): Northcoast Research upgraded its rating on this company to Buy.
Toll Brothers (NYSE:TOL): Keefe, Bruyette & Woods upgraded its rating on this company from Market Perform to Outperform.
UBS AG (NYSE:UBS): Deutsche Bank upgraded its rating on this company from Hold to Buy and changed its price target to $18.60.
Vertex Pharmaceuticals (NASDAQ:VRTX): Goldman Sachs upgraded its rating on this company from Sell to Neutral.
Telefonica SA (NYSE:TEF): Sanford C. Bernstein upgraded its rating on this company from Market Perform to Outperform.
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