Exxon Mobil Price Target is Cut and 4 More Analyst Downgrades to Know About

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:

Exxon Mobil (NYSE:XOM): Morgan Stanley downgraded its rating on this company from Equal Weight to Underweight and changed its price target from $90.00 to $85.00.

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XOM

Targa Resources Investments (NYSE:TRGP): Morgan Stanley downgraded its rating on this company from Overweight to Equal Weight and changed its price target from $68.00 to $70.00.

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TRGP

Crosstex Energy (NASDAQ:XTXI): Morgan Stanley downgraded its rating on this company from Overweight to Equal Weight and changed its price target from $19.00 to $20.00.

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XTXI

Principal Financial Group (NYSE:PFG): Sandler O’Neill downgraded its rating on this company from Buy to Hold.

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PFG

Agrium (NYSE:AGU): Piper Jaffray downgraded its rating on this company from Overweight to Neutral and changed its price target from $133.00 to $105.00.

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AGU

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