Upgrades and Downgrades for Tuesday, 7/20


  • Simon Property (SPG) upgraded by Stifel from Hold to Buy
  • Gatos Silver (GATO) upgraded by RBC Capital from Sector Perform to Outperform
  • IBM (IBM) upgraded by Societe Generale from Sell to Hold
  • Vallourec (VLOWY) upgraded by Kepler Cheuvreux from Reduce to Hold
  • Sundrug (SDGCF) upgraded by SMBC Nikko from Underperform to Neutral
  • Zions Bancorp (ZION) upgraded by Baird from Underperform to Neutral
  • InterContinental (IHG) upgraded by Stifel from Hold to Buy
  • Western Midstream (WES) upgraded by Morgan Stanley from Equal Weight to Overweight
  • LivaNova (LIVN) upgraded by Needham from Hold to Buy
  • Elementis (EMNSF) upgraded by HSBC from Reduce to Hold
  • CMS Energy (CMS) upgraded by KeyBanc from Sector Weight to Overweight
  • Krystal Biotech (KRYS) upgraded by Goldman Sachs from Neutral to Buy
  • Incyte (INCY) upgraded by Benchmark from Hold to Buy
  • BNY Mellon (BK) upgraded by Argus from Hold to Buy


  • Five9 (FIVN) downgraded by Morgan Stanley from Overweight to Equal Weight
  • Viavi (VIAV) downgraded by JPMorgan from Overweight to Neutral
  • Ardelyx (ARDX) downgraded by Piper Sandler from Overweight to Neutral
  • Topcon (TOPCF) downgraded by SMBC Nikko from Outperform to Neutral
  • Glaukos (GKOS) downgraded by Wells Fargo from Equal Weight to Underweight
  • Consolidated Edison (ED) downgraded by KeyBanc from Sector Weight to Underweight
  • Great-West Lifeco (GWLIF) downgraded by CIBC from Outperformer to Neutral
  • Cheniere Energy Partners (CQP) downgraded by Barclays from Overweight to Equal Weight
  • Enbridge (ENB) downgraded by Barclays from Overweight to Equal Weight
  • Fujitsu (FJTSY) downgraded by Goldman Sachs from Conviction Buy to Buy
  • Rocket Companies (RKT) downgraded by Wedbush from Neutral to Underperform
  • Vertex Pharmaceuticals (VRTX) downgraded by SVB Leerink from Market Perform to Underperform
  • TC Energy (TRP) downgraded by Morgan Stanley from Overweight to Equal Weight
  • FMC Corporation (FMC) downgraded by Loop Capital from Buy to Hold
  • Cloudflare (NET) downgraded by BTIG from Buy to Neutral
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