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Twenty-three stocks that analysts reported as buys this morning - upgraded to or initiated with a Buy, Outperform or Overweight rating - went up following market open with no exception. Ditto for the three that analysts labeled as sells - downgraded to or initiated with a Sell, Underperform or Underweight rating.
The biggest move among the new Buy ratings came from KB Home
KBH. Shares were upgraded this morning from Neutral to Buy by Goldman Sachs. Shares opened at $9.73 and made their way up to an intraday high of $10.18 at 11:17 AM. That move to the upside was 4.62 percent.
Among the analyst sells, NVR
NVR provided the biggest move to the downside: 2.71 percent. NVR was downgraded by Goldman Sachs from Neutral to Sell this morning. Shares apparently heeded that call, opening at $757.55 and reaching an intraday low of $737.00.
Had traders bought those equities rated Buy and sold those rated Sell this morning, the combined holdings would have peaked by 1.51 percent. If those trader were still holding these positions, the return would have been a lower but still positive 0.64 percent. Between the open and the time of this writing, the drawdown on the combined and largely bullish positions would has been a negative 1.74 percent.
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Posted In: Long IdeasShort IdeasUpgradesDowngradesIntraday UpdateAnalyst RatingsMoversTrading IdeasGoldman Sachs
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