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:
Microsoft (NASDAQ:MSFT): Jyske Bank downgraded its rating on this company to Reduce and changed its price target to $29.00.
MFC Industrial Ltd. (MIL): TheStreet downgraded its rating on this company from Buy to Hold.
M&T Bank Co. (NYSE:MTB): Keefe, Bruyette & Woods downgraded its rating on this company from Outperform to Market Perform and changed its price target to $110.00.
National Financial Partners (NYSE:NFP): Evercore Partners downgraded its rating on this company from Overweight to Equal Weight.
Niska Gas Storage (NYSE:NKA): Citigroup downgraded its rating on this company from Neutral to Sell.
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