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:
General Motors (NYSE:GM): Craig Hallum upgraded its rating on this company from Hold to Buy.
comScore (NASDAQ:SCOR): Cantor Fitzgerald upgraded its rating on this company from Hold to Buy and changed its price target from $16.00 to $20.00.
Gilead Sciences (NASDAQ:GILD): Citigroup upgraded its rating on this company from Sell to Neutral.
Allstate (NYSE:ALL): Goldman Sachs upgraded its rating on this company from Buy to Conviction-Buy.
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