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:
Coach (NYSE:COH): Credit Agricole upgraded its rating on this company from Outperform to Buy.
Ares Capital (NASDAQ:ARCC): JPMorgan Chase upgraded its rating on this company from Neutral to Overweight and changed its price target to $18.50.
Asure Software (NASDAQ:ASUR): TheStreet upgraded its rating on this company from Sell to Hold.
Ryder System (NYSE:R): Wells Fargo upgraded its rating on this company from Market Perform to Outperform.