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:
Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM): Morgan Stanley downgraded its rating on this company from Overweight to Equal Weight and changed its price target to $18.54.
UniTek Global Services (NASDAQ:UNTK): Janney Montgomery Scott downgraded its rating on this company from Buy to Sell.
Varian Medical Systems (NYSE:VAR): Morgan Stanley downgraded its rating on this company from Equal Weight to Underweight and changed its price target to $65.00.
Validus Holdings, Ltd. (NYSE:VR): Macquarie downgraded its rating on this company from Outperform to Neutral.
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