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:
VMware (NYSE:VMW): Sanford C. Bernstein downgraded its rating on this company from Market Perform to Underperform and changed its price target from $75.00 to $61.00.
ViewPoint Financial (NASDAQ:VPFG): Sterne Agee downgraded its rating on this company from Buy to Neutral and changed its price target from $23.00 to $19.50.
Western Digital (NYSE:WDC): Craig Hallum downgraded its rating on this company from Buy to Hold and changed its price target to $54.00.
Exide Technologies (NASDAQ:XIDE): Maxim Group downgraded its rating on this company from Buy to Hold.
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