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:
Verizon (NYSE:VZ): Macquarie downgraded its rating on this company from Outperform to Neutral.
VMware (NYSE:VMW): Credit Agricole downgraded its rating on this company from Buy to Underperform.
General Electric (NYSE:GE): JPMorgan Chase downgraded its rating on this company from Overweight to Neutral and changed its price target from $22.00 to $24.00.
Under Armour (NYSE:UA): Buckingham Research downgraded its rating on this company from Buy to Neutral.
Wipro Limited (NYSE:WIT): JPMorgan Chase downgraded its rating on this company from Overweight to Neutral.
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