Corning Downgraded to Sector Perform and 3 Downgraded Stocks to Eye
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:
ADTRAN (NASDAQ:ADTN): UBS downgraded its rating on this company from Neutral to Sell.
Current Price $21.00
BNY Mellon (NYSE:BK): RBC Capital Mkts downgraded its rating on this company from Outperform to Sector Perform and changed its price target from $28 to $26.
Current Price $26.4125
Corning (NYSE:GLW): RBC Capital Mkts downgraded its rating on this company from Outperform to Sector Perform and changed its price target from $15 to $14.
Current Price $12.31
Qlik Tech (NASDAQ:QLIK): Stifel Nicolaus downgraded its rating on this company from Buy to Hold.
Current Price $21.14
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