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:
Royal Gold (NASDAQ:RGLD): National Bank Financial upgraded its rating on this company from Sector Perform to Outperform.
Siemens (NYSE:SI): BNP Paribas upgraded its rating on this company from Underperform to Neutral.
Sterling Resources (NYSE:SLG): TD Securities upgraded its rating on this company from Hold to Speculative Buy and changed its price target to $1.20.
China Petroleum and Chemical (NYSE:SNP): Nomura upgraded its rating on this company from Neutral to Buy.