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:
Protective Life (NYSE:PL): Raymond James downgraded its rating on this company from Strong-Buy to Outperform.
SeaChange (NASDAQ:SEAC): TheStreet downgraded its rating on this company from Buy to Hold.
St. Jude Medical (NYSE:STJ): RBC Capital downgraded its rating on this company from Sector Perform to Underperform and changed its price target to $37.00.
Two Harbors Investment Corp (AMEX:TWO): TheStreet downgraded its rating on this company from Buy to Hold.
Western Asset Mortgage Capital Corp (NYSE:WMC): JPMorgan Chase downgraded its rating on this company from Overweight to Neutral.
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