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:
Intercontinental Hotels Group (NYSE:IHG): Barclays Capital downgraded its rating on this company from Overweight to Equal Weight.
ITC Holdings (NYSE:ITC): Deutsche Bank downgraded its rating on this company from Buy to Hold and changed its price target to $108.00.
Mid America Apartment Communities (NYSE:MAA): Raymond James downgraded its rating on this company from Strong-Buy to Outperform.
Mercer International (NASDAQ:MERC): TD Securities downgraded its rating on this company from Buy to Hold and changed its price target from $9.00 to $7.50.
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