Lufkin Industries Gets a Thumbs Down and 3 Analyst Downgrades to Know
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:
Lufkin Industries (NASDAQ:LUFK): Macquarie downgraded its rating on this company from Outperform to Neutral.
Infinity Pharmaceuticals (NASDAQ:INFI): Stephens downgraded its rating on this company from Overweight to Equal Weight.
FMC Tech (NYSE:FTI): Guggenheim downgraded its rating on this company from Buy to Neutral and changed its price target to $56.00.
Fortinet (NASDAQ:FTNT): Needham & Company downgraded its rating on this company from Buy to Hold.