Upgrades
- Fortum (FOJCY) upgraded by Danske Bank from Hold to Buy
- Fortum (FOJCY) upgraded by Oddo BHF from Neutral to Outperform
- QinetiQ (QNTQY) upgraded by Citi from Neutral to Buy
- Compass Group (CMPGY) upgraded by AlphaValue/Baader from Sell to Add
- Enagas (ENGGY) upgraded by Societe Generale from Hold to Buy
- Eli Lilly (LLY) upgraded by UBS from Neutral to Buy
- Boston Properties (BXP) upgraded by Scotiabank from Sector Perform to Outperform
- Boston Properties (BXP) upgraded by Evercore ISI from In Line to Outperform
- Trip.com Group (TCOM) upgraded by Daiwa from Hold to Buy
Downgrades
- Aveva (AVEVF) downgraded by Berenberg from Buy to Hold
- Novavax (NVAX) downgraded by JPMorgan from Neutral to Underweight
- Alcoa (AA) downgraded by Wolfe Research from Outperform to Peer Perform
- Orpea (ORPEF) downgraded by AlphaValue/Baader from Buy to Reduce
- Sekisui House (SKHSY) downgraded by Daiwa from Outperform to Neutral
- Block (SQ) downgraded by Mizuho from Buy to Neutral
- Accor (ACCYY) downgraded by JPMorgan from Neutral to Underweight
- Volvo Car (VLVOF) downgraded by Bernstein from Outperform to Market Perform
- Ubisoft (UBSFY) downgraded by Stifel from Buy to Hold
- Luminar (LAZR) downgraded by Northland from Outperform to Market Perform
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