Upgrades
- Boliden (BDNNY) upgraded by Morgan Stanley from Underweight to Equal Weight
- Shell (SHEL) upgraded by Morgan Stanley from Underweight to Equal Weight
- Grab Holdings (GRAB) upgraded by JPMorgan from Underweight to Neutral
- XP Inc. (XP) upgraded by BofA from Neutral to Buy
- SAP (SAP) upgraded by Jefferiesfrom Underperform to Hold
- Agree Realty (ADC) upgraded by Mizuho from Neutral to Buy
- AB InBev (BUD) upgraded by Deutsche Bank from Hold to Buy
- Kellogg (K) upgraded by Bernstein from Underperform to Market Perform
- Nordex (NRDXF) upgraded by Exane BNP Paribas from Neutral to Outperform
- DiaMedica Therapeutics (DMAC) upgraded by Oppenheimer from Perform to Outperform
- Enel Chile (ENIC) upgraded by BTG Pactual from Neutral to Buy
Downgrades
- Alcoa (AA) downgraded by Morgan Stanley from Equal Weight to Underweight
- Equinor (EQNR) downgraded by Morgan Stanley from Equal Weight to Underweight
- DigitalOcean (DOCN) downgraded by Piper Sandler from Neutral to Underweight
- PagSeguro Digital (PAGS) downgraded by New Street from Buy to Neutral
- Eneti (NETI) downgraded by Citi from Buy to Neutral
- Mercury Systems (MRCY) downgraded by Baird from Outperform to Neutral
- Valmet (VLMTY) downgraded by Danske Bank from Buy to Hold
- Tesla (TSLA) downgraded by Morgan Stanley from Overweight to Equal Weight
- Equinix (EQIX) downgraded by Oppenheimer from Outperform to Perform
- Dow Inc. (DOW) downgraded by BofA from Neutral to Underperform
- Chemours (CC) downgraded by BofA from Buy to Neutral
- Celanese (CE) downgraded by BofA from Buy to Neutral
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