Upgrades
- JD.com (JD) upgraded by Macquarie from Neutral to Outperform
- Aspen Technology (AZPN) upgraded by Berenberg from Hold to Buy
- Roche (RHBY) upgraded by Deutsche Bank from Sell to Hold
- DuPont (DD) upgraded by Jefferies from Hold to Buy
- Zealand Pharma (ZLDPF) upgraded by Danske Bank from Sell to Hold
- Darden (DRI) upgraded by BTIG from Neutral to Buy
- Coinbase (COIN) upgraded by BofA from Underperform to Neutral
- Robinhood (HOOD) upgraded by BofA from Underperform to Buy
- Euronet (EEFT) upgraded by Wolfe Research from Underperform to Peer Perform
- United Airlines (UAL) upgraded by Wolfe Research from Peer Perform to Outperform
- Alaska Air (ALK) upgraded by Wolfe Research from Peer Perform to Outperform
- Bath & Body Works (BBWI) upgraded by JPMorgan on sales inflection to Neutral
- Tanger Factory (SKT) upgraded by Scotiabank from Underperform to Sector Perform
Downgrades
- SoundThinking (SSTI) downgraded by William Blair from Outperform to Market Perform
- Auto Trader Group (ATDRY) downgraded by Morgan Stanley from Equal Weight to Underweight
- Lanxess (LNXSF) downgraded by Exane BNP Paribas from Neutral to Underperform
- Inditex (IDEXY) downgraded by RBC Capital from Outperform to Sector Perform
- Fortum (FOJCY) downgraded by UBS from Neutral to Sell
- BioMarin (BMRN) downgraded by Baird from Outperform to Neutral
- Weibo (WB) downgraded by Morgan Stanley from Equal Weight to Underweight
- Baidu (BIDU) downgraded by Morgan Stanley from Overweight to Equal Weight
- Solvay (SLVYY) downgraded by Exane BNP Paribas from Neutral to Underperform
- Epam Systems (EPAM) downgraded by Wolfe Research from Outperform to Peer Perform
- Corpay (CPAY) downgraded by Wolfe Research from Peer Perform to Underperform
- Lithia & Driveway (LAD) downgraded by Guggenheim from Buy to Neutral
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