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:
OpenTable (NASDAQ:OPEN): JPMorgan Chase downgraded its rating on this company from Overweight to Neutral.
China Petroleum and Chemical (NYSE:SNP): Jefferies Group downgraded its rating on this company from Hold to Underperform.
SPX Corp (NYSE:SPW): CL King downgraded its rating on this company from Buy to Neutral.
Synthomer (NASDAQ:SYNT): Bank of America downgraded its rating on this company to Neutral and changed its price target from $3.84 to $3.38.
International Tower Hill Mines (AMEX:THM): BMO Capital Markets downgraded its rating on this company from Market Perform to Underperform.
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