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:
Ross Stores (NASDAQ:ROST): Northcoast Research downgraded its rating on this company from Buy to Neutral.
Shaw Communications (NYSE:SJR): National Bank Financial downgraded its rating on this company from Sector Perform to Underperform and changed its price target from $23.00 to $22.00.
Saks (NYSE:SKS): JPMorgan Chase downgraded its rating on this company from Overweight to Neutral and changed its price target to $12.00.
Silgan Holdings (NASDAQ:SLGN): Bank of America downgraded its rating on this company from Buy to Neutral and changed its price target to $49.00.
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