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:
Linear Tech (NASDAQ:LLTC): Stifel downgraded its rating on this company from Buy to Hold.
World Acceptance (NASDAQ:WRLD): FBR Capital downgraded its rating on this company from Outperform to Mkt Perform and changed its price target to $88.
Exxon Mobil (NYSE:XOM): Oppenheimer downgraded its rating on this company from Outperform to Perform.
EZCORP (NASDAQ:EZPW): FBR Capital downgraded its rating on this company from Mkt Perform to Underperform and changed its price target from $22 to $17.5.