Upgrades
- AvalonBay (AVB) upgraded by Jefferies from Hold to Buy
- Big Yellow Group (BYLOF) upgraded by Goldman Sachs from Neutral to Buy
- Alcoa (AA) upgraded by Deutsche Bank from Hold to Buy
- Snap (SNAP) upgraded by UBS from Neutral to Buy
- J Sainsbury (JSAIY) upgraded by Kepler Cheuvreux from Hold to Buy
- Tesco (TSCDY) upgraded by Kepler Cheuvreux from Hold to Buy
- Sodexo (SDXAY) upgraded by Berenberg from Hold to Buy
- Qualcomm (QCOM) upgraded by Citi from Neutral to Buy
- Groupon (GRPN) upgraded by UBS from Neutral to Buy
- Ventas (VTR) upgraded by Jefferies from Hold to Buy
- Equifax (EFX) upgraded by Argus from Hold to Buy
- ACS (ACSAY) upgraded by Goldman Sachs from Neutral to Buy
- British Land (BTLCY) upgraded by Goldman Sachs from Neutral to Buy
- Western Digital (WDC) upgraded by Wedbush from Neutral to Outperform
- Yum! Brands (YUM) upgraded by Morgan Stanley from Equal Weight to Overweight
Downgrades
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- Southwest (LUV) downgraded by Deutsche Bank from Buy to Hold
- Vedanta (VEDL) downgraded by Citi from Buy to Neutral
- Marriott (MAR) downgraded by Berenberg from Buy to Hold
- Twitter (TWTR) downgraded by UBS from Buy to Neutral
- Royal Caribbean (RCL) downgraded by Berenberg from Buy to Hold
- Match Group (MTCH) downgraded to Neutral from Buy by UBS
- Porsche (POAHY) downgraded to Hold from Buy by Kepler Cheuvreux
- Neste (NTOIY) downgraded to Sell from Hold by Nordea
- Aramark (ARMK) downgraded to Hold from Buy by Berenberg
- Match Group (MTCH) downgraded to Neutral from Buy by UBS
- Buenaventura (BVN) downgraded to Hold from Buy by HSBC
- IBM (IBM) downgraded to Equal Weight from Overweight by Morgan Stanley
- Cheesecake Factory (CAKE) downgraded to Underweight from Equal Weight by Morgan Stanley
- Whitbread (WTBDY) downgraded to Hold from Buy by Berenberg
- HelloFresh (HLFFF) downgraded to Neutral from Outperform by Exane BNP Paribas
- Autodesk (ADSK) downgraded to Perform from Outperform by Oppenheimer
- Sprouts Farmers (SFM) downgraded to Underweight from Equal Weight by Wells Fargo
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