Upgrades
- Financial Institutions (FISI) upgraded by Keefe Bruyette to Outperform
- Natura &Co (NTCO) upgraded by Goldman Sachs from Neutral to Buy
- SS&C (SSNC) upgraded by Jefferies from Hold to Buy
- Zillow Group (Z) upgraded by KeyBanc from Sector Weight to Overweight
- Booz Allen (BAH) upgraded by Raymond James from Market Perform to Outperform
- DexCom (DXCM) upgraded by Redburn Atlantic from Neutral to Buy
- Big Yellow Group (BYLOF) upgraded by HSBC from Hold to Buy
- British Land (BTLCY) upgraded by HSBC from Hold to Buy
- Northrop Grumman (NOC) upgraded by Wolfe Research from Underperform to Peer Perform
- Caterpillar (CAT) upgraded by UBS from Sell to Neutral
- Eurofins Scientific (ERFSF) upgraded by Bernstein from Market Perform to Outperform
- SJW Group (SJW) upgraded by BofA from Neutral to Buy
Downgrades
- Danaher (DHR) downgraded by Raymond James from Outperform to Market Perform
- U.S. Steel (X) downgraded by Morgan Stanley from Overweight to Equal Weight
- FedEx (FDX) downgraded by Loop Capital from Buy to Hold
- Union Pacific (UNP) downgraded by Loop Capital from Hold to Sell
- Constellation Brands (STZ) downgraded by Piper Sandler from Overweight to Neutral
- CrowdStrike (CRWD) downgraded by Baird from Outperform to Neutral
- Fortinet (FTNT) downgraded by Baird from Outperform to Neutral
- Cloudflare (NET) downgraded by Baird to Neutral
- Prologis (PLD) downgraded by Raymond James from Outperform to Market Perform
- Canadian Pacific Kansas City (CP) downgraded by Loop Capital from Buy to Sell
- CSX (CSX) downgraded by Loop Capital from Buy to Hold
- Norfolk Southern (NSC) downgraded by Loop Capital from Buy to Hold
- American States Water (AWR) downgraded by BofA from Neutral to Underperform
- Cullen/Frost (CFR) downgraded by DA Davidson from Buy to Neutral
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