Upgrades
- HSBC (HSBC) upgraded by Berenberg from Sell to Hold
- Nexa Resources (NEXA) upgraded by Citi from Sell to Neutral
- Canadian Natural (CNQ) upgraded by Goldman Sachs from Neutral to Buy
- Fresenius Medical (FMS) upgraded by Kepler Cheuvreux from Hold to Buy
- Acerinox (ANIOY) upgraded by BofA from Neutral to Buy
- Metro Bank (MBNKF) upgraded by Investec from Hold to Buy
- Armstrong Flooring (AFI) upgraded by Nomura Instinet from Neutral to Buy
- Aena (ANNSF) upgraded by Societe Generale from Hold to Buy
- Paradox Interactive (PRXXF) upgraded by Berenberg from Sell to Hold
- Emera (EMRAF) upgraded by Industrial Alliance from Hold to Buy
- Fiserv (FISV) upgraded by Susquehanna from Neutral to Positive
- United Rentals (URI) upgraded by UBS from Neutral to Buy
- Nexa Resources (NEXA) upgraded by Citi from Sell to Neutral
- Leggett & Platt (LEG) upgraded by Raymond James from Market Perform to Strong Buy
- Ovintiv (OVV) upgraded by BofA from Neutral to Buy
- Accor (ACCYY) upgraded by Berenberg from Sell to Hold
- Packaging Corp. (PKG) upgraded by Argus from Hold to Buy
Downgrades
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- VMware (VMW) downgraded by Jefferies from Buy to Hold
- Smartsheet (SMAR) downgraded by Jefferies from Buy to Hold
- Zuora (ZUO) downgraded by Jefferies from Buy to Hold
- ABN Amro (AAVMY) downgraded by Citi from Buy to Neutral
- Jumia Technologies (JMIA) downgraded by Stifel from Buy to Hold
- Enphase Energy (ENPH) downgraded by Goldman Sachs from Buy to Neutral
- Kosmos (KOS) downgraded by Goldman Sachs from Buy to Neutral
- Lonza (LZAGY) downgraded by UBS from Buy to Neutral
- Thyssenkrupp (TKAMY) downgraded by Kepler Cheuvreux from Buy to Hold
- TGS-NOPEC (TGSGY) downgraded by DNB Markets from Buy to Hold
- Sage Group (SGPYY) downgraded by Canaccord from Buy to Hold
- Adobe (ADBE) downgraded by DZ Bank from Buy to Hold
- Medtronic (MDT) downgraded by DZ Bank from Buy to Hold
- United Internet (UDIRF) downgraded by DZ Bank from Buy to Hold
- Ferguson (FERGY) downgraded by Societe Generale from Buy to Hold
- Spirax-Sarco (SPXSF) downgraded by Stifel from Hold to Sell
- Verbund (OEZVY) downgraded by Societe Generale from Buy to Hold
- Fraport (FPRUY) downgraded by Societe Generale from Buy to Hold
- Petrobras (PBR) downgraded by BofA from Buy to Neutral
- SmileDirectClub (SDC) downgraded by BofA from Buy to Underperform
- Allogene Therapeutics (ALLO) downgraded by SunTrust from Buy to Hold
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