Upgrades
- Knight-Swift (KNX) upgraded by Evercore ISI from In Line to Outperform
- PDD Holdings (PDD) upgraded by Nomura from Neutral to Buy
- Brown-Forman (BF.B) upgraded by JPMorgan from Underweight to Neutral
- Quanta Services (PWR) upgraded by BMO Capital from Market Perform to Outperform
- Air Liquide (AIQUY) upgraded by Morgan Stanley from Underweight to Equal Weight
- Bellway (BLWYF) upgraded by Peel Hunt from Add to Buy
- Tidewater Midstream (TWMIF) upgraded by National Bank to Sector Perform
- Brown-Forman (BF.B) upgraded by Citi from Sell to Neutral
- Wheaton Precious Metals (WPM) upgraded by UBS from Neutral to Buy
- Argan (AGX) upgraded by JPMorgan from Neutral to Overweight
- SPX Technologies (SPXC) upgraded by Truist from Hold to Buy
- TripAdvisor (TRIP) upgraded by BofA from Neutral to Buy
Downgrades
- Future plc (PRNWF) downgraded by Jefferies from Buy to Hold
- Elisa (ELMUF) downgraded by JPMorgan from Neutral to Underweight
- Barry Callebaut (BRRLY) downgraded by Barclays from Equal Weight to Underweight
- Corbion (CSNVY) downgraded by Barclays from Overweight to Equal Weight
- Givaudan (GVDNY) downgraded by Barclays from Overweight to Equal Weight
- Equinor (EQNR) downgraded by Pareto from Buy to Hold
- Wix.com (WIX) downgraded by JPMorgan from Neutral to Underweight
- Masimo (MASI) downgraded by Raymond James from Outperform to Market Perform
- Nokia (NOK) downgraded by Grupo Santander from Outperform to Underperform
- Ericsson (ERIC) downgraded by Grupo Santander from Outperform to Neutral
- Upstream Bio (UPB) downgraded by Evercore ISI from Outperform to In Line
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