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:
Fusion-io (NYSE:FIO): Monness Crespi & Hardt initiated coverage of this company with a rating of Buy and a price target of $20.
G-III Apparel (NASDAQ:GIII): Barclays initiated coverage of this company with a rating of Overweight and a price target of $46.
Silver Spring Networks (NYSE:SSNI): Stifel initiated coverage of this company with a rating of Buy and a price target of $22.