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:
Dominion Resources (NYSE:D): Atlantic Securities upgraded its rating on this company from Neutral to Overweight.
Global Payments (NYSE:GPN): Nomura upgraded its rating on this company from Neutral to Buy.
Dot Hill Systems (NASDAQ:HILL): Needham & Company upgraded its rating on this company from Hold to Buy and changed its price target to $2.50.
ICICI Bank Ltd (NYSE:IBN): Morgan Stanley upgraded its rating on this company from Equal Weight to Overweight.
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