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:
SCBT Financial (NASDAQ:SCBT): BB&T Capital Mkts upgraded its rating on this company from Hold to Buy.
Current Price $47.04
Home Depot (NYSE:HD): Oppenheimer upgraded its rating on this company from Perform to Outperform and changed its price target from $67 to $76.
Current Price $65.45
FMC Tech (NYSE:FTI): Dahlman Rose upgraded its rating on this company from Hold to Buy.
Current Price $51.50
ArcelorMittal (NYSE:MT): HSBC Securities upgraded its rating on this company from Underweight to Neutral and changed its price target to $16.
Current Price $15.24