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:
eBay (NASDAQ:EBAY): Wells Fargo upgraded its rating on this company from Market Perform to Outperform.
Excel Trust (NYSE:EXL): TheStreet upgraded its rating on this company from Sell to Hold.
Halliburton (NYSE:HAL): Societe Generale upgraded its rating on this company from Hold to Buy.
Packaging Co. of America (NYSE:PKG): BMO Capital Markets upgraded its rating on this company from Market Perform to Outperform and changed its price target from $43.00 to $50.00.