Upgrades
- BBB Foods (TBBB) upgraded by Morgan Stanley from Equal Weight to Overweight
- Werner (WERN) upgraded by Baird from Underperform to Neutral
- Lam Research (LRCX) upgraded by Summit Insights from Hold to Buy
- Brown & Brown (BRO) upgraded by Keefe Bruyette from Underperform to Market Perform
- ASML (ASML) upgraded by Barclays from Equal Weight to Overweight
- Zillow Group (ZG) upgraded by Barclays from Underweight to Equal Weight
- General Motors (GM) upgraded by DZ Bank from Hold to Buy
- LVMH (LVMUY) upgraded by DZ Bank from Hold to Buy
- Schindler (SHLAF) upgraded by Oddo BHF from Underperform to Neutral
- Universal Music Group (UMGNF) upgraded by ING Bank from Hold to Buy
- Cencora (COR) upgraded by Morgan Stanley from Equal Weight to Overweight
- Korro Bio (KRRO) upgraded by H.C. Wainwright from Neutral to Buy
- NVR (NVR) upgraded by Zelman from Underperform to Neutral
Downgrades
- Wal-Mart de Mexico (WMMVY) downgraded by Morgan Stanley from Equal Weight to Underweight
- UMC (UMC) downgraded by JPMorgan from Neutral to Underweight
- StoneCo (STNE) downgraded by Grupo Santander from Outperform to Neutral
- PagSeguro (PAGS) downgraded by Grupo Santander from Outperform to Neutral
- Acerinox (ANIOY) downgraded by JPMorgan from Neutral to Underweight
- SSAB AB (SSAAY) downgraded by JPMorgan from Overweight to Neutral
- OMV AG (OMVKY) downgraded by RBC Capital from Sector Perform to Underperform
- Stolt-Nielsen (SOIEF) downgraded by Kepler Cheuvreux from Hold to Reduce
- Stellar Bancorp (STEL) downgraded by Raymond James from Outperform to Market Perform
- Omega Healthcare (OHI) downgraded by Wells Fargo from Overweight to Equal Weight
- First Solar (FSLR) downgraded by BMO Capital from Outperform to Market Perform
- Prosperity Bancshares (PB) downgraded by Piper Sandler from Overweight to Neutral
- CalciMedica (CALC) downgraded by H.C. Wainwright from Buy to Neutral
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