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:
Primerica (NYSE:PRI): Raymond James upgraded its rating on this company from Market Perform to Outperform.
Qlik Technologies (NASDAQ:QLIK): Evercore Partners upgraded its rating on this company from Equal Weight to Overweight and changed its price target to $30.00.
Rio Tinto (NYSE:RIO): Macquarie upgraded its rating on this company from Neutral to Outperform.
StarTek (NYSE:SRT): TheStreet upgraded its rating on this company from Sell to Hold.