Upgrades
- PennyMac Financial (PFSI) upgraded by Keefe Bruyette from Market Perform to Outperform
- Rocket Companies (RKT) upgraded by Keefe Bruyette from Market Perform to Outperform
- Ecolab (ECL) upgraded by Berenberg from Hold to Buy
- Carlsberg (CABGY) upgraded by Berenberg from Hold to Buy
- Bayer (BAYRY) upgraded by UBS from Neutral to Buy
- Zurich Insurance (ZURVY) upgraded by Kepler Cheuvreux from Reduce to Hold
- Intuit (INTU) upgraded by BNP Paribas from Underperform to Neutral
- ServiceNow (NOW) upgraded by BNP Paribas from Neutral to Outperform
- Petrobras (PBR) upgraded by BTG Pactual from Neutral to Buy
- Trade Desk (TTD) upgraded by Arete from Sell to Neutral
- Upstart (UPST) upgraded by BTIG from Neutral to Buy
- Simply Good Foods (SMPL) upgraded by Jefferies from Hold to Buy
- Circle Internet (CRCL) upgraded by Clear Street from Hold to Buy
Downgrades
- TeamViewer (TMVWY) downgraded by Barclays from Overweight to Equal Weight
- Flutter Entertainment (FLUT) downgraded by Kepler Cheuvreux from Buy to Hold
- National Grid (NGG) downgraded by UBS from Neutral to Sell
- Summit Therapeutics (SMMT) downgraded by Jefferies from Buy to Hold
- Incyte (INCY) downgraded by Jefferies from Buy to Hold
- Immunocore (IMCR) downgraded by Jefferies from Buy to Hold
- BeOne Medicines (ONC) downgraded by Jefferies from Buy to Hold
- NewLake Capital Partners (NLCP) downgraded by Compass Point from Buy to Neutral
- Big Yellow Group (BYLOF) downgraded by Morgan Stanley from Equal Weight to Underweight
- LondonMetric (LNSPF) downgraded by Morgan Stanley from Equal Weight to Underweight
- Qualcomm (QCOM) downgraded by Seaport Research from Neutral to Sell
- Didi Global (DIDIY) downgraded by JPMorgan from Overweight to Neutral
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