Upgrades
- Frontdoor (FTDR) upgraded by Goldman Sachs from Sell to Neutral
- Restaurant Brands (QSR) upgraded by Piper Sandler from Neutral to Overweight
- Dutch Bros (BROS) upgraded by Goldman Sachs from Neutral to Buy
- TotalEnergies (TTE) upgraded by JPMorgan from Neutral to Overweight
- JetBlue (JBLU) upgraded by Barclays from Underweight to Equal Weight
- Stepstone Group (STEP) upgraded by Barclays from Equal Weight to Overweight
- Dorman Products (DORM) upgraded by Jefferies from Hold to Buy
- Flywire (FLYW) upgraded by Morgan Stanley from Equal Weight to Overweight
- AppLovin (APP) upgraded by Arete from Sell to Neutral
- CrowdStrike (CRWD) upgraded by Piper Sandler from Neutral to Overweight
- Twilio (TWLO) upgraded by TD Cowen from Hold to Buy
- First American (FAF) upgraded by Stephens from Equal Weight to Overweight
- Netflix (NFLX) upgraded by JPMorgan from Neutral to Overweight
Downgrades
- Novo Nordisk (NVO) downgraded by Goldman Sachs from Buy to Neutral
- Frontier Group (ULCC) downgraded by Barclays from Overweight to Underweight
- Blue Owl Capital (OWL) downgraded by Barclays from Overweight to Equal Weight
- Aardvark (AARD) downgraded by Morgan Stanley from Overweight to Equal Weight
- Aardvark (AARD) downgraded by RBC Capital from Outperform to Sector Perform
- Almirall (LBTSF) downgraded by Deutsche Bank from Buy to Hold
- Diageo (DEO) downgraded by HSBC from Buy to Hold
- Fiverr (FVRR) downgraded by BTIG from Buy to Neutral
- GitLab (GTLB) downgraded by TD Cowen from Buy to Hold
- Arcellx (ACLX) downgraded by TD Cowen from Buy to Hold
- Aardvark Therapeutics (AARD) downgraded by H.C. Wainwright from Buy to Neutral
- Playtika (PLTK) downgraded by Wedbush from Outperform to Neutral
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