Upgrades
- Renault (RNLSY) upgraded by Jefferies from Hold to Buy
- CYBG (CBBYF) upgraded by Citi from Neutral to Buy
- CYBG (CBBYF) upgraded by Credit Suisse from Underperform to Neutral
- Equinor (EQNR) upgraded by Barclays from Equal Weight to Overweight
- Kingspan (KGSPY) upgraded by Berenberg from Hold to Buy
- Royal Mail (ROYMF) upgraded by RBC Capital from Underperform to Sector Perform
- Ferguson (FERGY) upgraded by Canaccord from Hold to Buy
- Henkel (HENKY) upgraded by Credit Suisse from Underperform to Neutral
Downgrades
- Kingfisher (KGFHY) downgraded by Goldman Sachs from Buy to Neutral
- SKF AB (SKFRY) downgraded by Jefferies from Buy to Hold
- Fox Factory (FOXF) downgraded by BofA/Merrill from Buy to Neutral
- Credit Suisse (CS) downgraded by RBC Capital from Outperform to Sector Perform
- Nissan (NSANY) downgraded by Macquarie from Outperform to Neutral
- Rexnord (RXN) downgraded by Credit Suisse from Outperform Neutral
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