We are now well into earnings season with the first big week of the quarter behind us. Although we have several weeks to go, there have already been some interesting results that have led to changes in Portfolio Grader rankings for select stocks.
One of the biggest drivers of stock upgrades is a large earnings surprise that catches the Street off guard. Not only does this mean that the fundamentals of the company are improving, but stocks reporting positive surprises usually attract some strong buying that can push the quantitative grade up a notch or two as well.
Here’s a look at three companies that simply delivered on their most recent earnings reports, and whose stocks have gotten fundamental upgrades as a result.