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

ADTN

Start 2013 better than ever by saving time and making money with your Limited Time Offer for our highly-acclaimed Stock Picker Newsletter. Click here for our fresh Feature Stock Pick now!

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

BK

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

GLW

Qlik Tech (NASDAQ:QLIK): Stifel Nicolaus downgraded its rating on this company from Buy to Hold.

Current Price $21.14

QLIK

Don’t Miss: Are Apple Shorts to Blame for the Avalanche?