Upgrades
- Vestas Wind (VWDRY) upgraded by Exane BNP Paribas from Underperform to Neutral
- Banco Bradesco (BBD) upgraded by Goldman Sachs from Neutral to Buy
- Holcim (HCMLY) upgraded by Deutsche Bank from Hold to Buy
- Travis Perkins (TPRKY) upgraded by Peel Hunt from Hold to Add
- Ebro Foods (EBRPF) upgraded by Grupo Santander from Neutral to Outperform
- ArcelorMittal (MT) upgraded by Barclays from Equal Weight to Overweight
- Canon (CAJPY) upgraded by SMBC Nikko from Neutral to Outperform
- Prog Holdings (PRG) upgraded by Loop Capital from Hold to Buy
- Gates Industrial (GTES) upgraded by RBC Capital from Sector Perform to Outperform
- Demant (WILYY) upgraded by Kepler Cheuvreux from Reduce to Hold
- ForFarmers (FRFBF) upgraded by Kepler Cheuvreux from Reduce to Hold
- Taylor Morrison (TMHC) upgraded by BTIG from Neutral to Buy
- Burlington Stores (BURL) upgraded by Gordon Haskett from Hold to Buy
Downgrades
- Nexans (NEXNY) downgraded by Goldman Sachs from Buy to Neutral
- Vestas Wind (VWDRY) downgraded by Deutsche Bank from Buy to Hold
- OSB Group (OSBGF) downgraded by Peel Hunt from Add to Hold
- Himalaya Shipping (HSHP) downgraded by DNB Markets from Hold to Sell
- Scatec (STECF) downgraded by SEB Equities from Buy to Hold
- HP Inc. (HPQ) downgraded by Morgan Stanley from Overweight to Equal Weight
- Sol-Gel Technologies (SLGL) downgraded by Raymond James from Strong Buy to Outperform
- Sweetgreen (SG) downgraded by Piper Sandler from Overweight to Neutral
- Shake Shack (SHAK) downgraded by Piper Sandler from Overweight to Neutral
- Dutch Bros (BROS) downgraded by Piper Sandler from Overweight to Neutral
- Terran Orbital (LLAP) downgraded by H.C. Wainwright from Buy to Neutral
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