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:
Senior Housing (NYSE:SNH): Stifel Nicolaus downgraded its rating on this company from Buy to Hold.
Current Price $24.89
Denny’s (NASDAQ:DENN): Feltl & Co. downgraded its rating on this company from Buy to Hold and changed its price target from $5.25 to $6.
Current Price $5.60
Intrepid Potash (NYSE:IPI): Dahlman Rose downgraded its rating on this company from Hold to Sell and changed its price target to $16.
Current Price $20.48
Cree (NASDAQ:CREE): Oppenheimer downgraded its rating on this company from Outperform to Perform.
Current Price $45.55
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