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:
SciQuest (NASDAQ:SQI): Stifel downgraded its rating on this company from Buy to Hold.
TCF Financial (NYSE:TCB): Oppenheimer downgraded its rating on this company from Outperform to Perform.
Cubist Pharma (NASDAQ:CBST): Cantor Fitzgerald downgraded its rating on this company from Hold to Sell and changed its price target from $38 to $40.
Bank of the Ozarks (NASDAQ:OZRK): Wunderlich downgraded its rating on this company from Buy to Hold and changed its price target to $43.
Delhaize Group (NYSE:DEG): HSBC Securities downgraded its rating on this company from Neutral to Underweight.
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