Upgrades
- AIG (AIG) upgraded by William Blair from Market Perform to Outperform
- Post Holdings (POST) upgraded by Piper Jaffray from Neutral to Overweight
- Centamin (CELTF) upgraded by Goldman Sachs from Neutral to Buy
- Philip Morris (PM) upgraded by Barclays from Equal Weight to Overweight
- HealthEquity (HHQY) upgraded by BofA/Merrill from Neutral to Buy
- Public Storage (PSA) upgraded by BofA/Merrill from Neutral to Buy
- Axis Capital (AXS) upgraded by Buckingham from Neutral to Buy
Downgrades
- Alcoa (AA) downgraded by Jefferies from Buy to Hold
- News Corp. (NWSA) downgraded by JPMorgan from Neutral to Underweight
- Publicis (PUBGY) downgraded by Liberum from Buy to Hold
- SAP (SAP) downgraded by Deutsche Bank from Buy to Hold
- Glencore (GLNCY) downgraded by Goldman Sachs from Neutral to Sell
- Paycom (PAYC) downgraded by Jefferies from Buy to Hold
- Fresnillo (FNLPF) downgraded by UBS from Buy to Neutral
- Suzano (SUZ) downgraded by Citi from Buy to Neutral
- Ingevity (NGVT) downgraded by Jefferies from Buy to Hold
- Michaels (MIK) downgraded by BofA/Merrill from Neutral to Underperform
- CubeSmart (CUBE) downgraded by BofA/Merrill from Buy to Neutral
- CVB Financial (CVBF) downgraded by Janney Montgomery Scott from Buy to Neutral
- Travelers (TRV) downgraded by Buckingham from Buy to Neutral
- Arch Capital (ACGL) downgraded by Buckingham from Buy to Neutral
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