Upgrades
- Air Liquide (AIQUY) upgraded by Goldman Sachs from Buy to Conviction Buy
- Clariant (CLZNY) upgraded by Goldman Sachs from Neutral to Buy
- BP (BP) upgraded by Morgan Stanley from Equal Weight to Overweight
- T-Mobile (TMUS) upgraded by KeyBanc from Sector Weight to Overweight
- Halma (HLMAF) upgraded by Peel Hunt from Reduce to Hold
- Axfood (AXFOF) upgraded by Nordea from Hold to Buy
- ABB (ABB) upgraded by Oddo BHF from Underperform to Neutral
- Bancolombia (CIB) upgraded by Itau BBA from Market Perform to Outperform
- Anta Sports Products (ANPDY) upgraded by JPMorgan from Underweight to Neutral
- Televisa (TV) upgraded by Barclays from Underweight to Equal Weight
- UCB (UCBJF) upgraded by UBS from Sell to Neutral
- Aluminum Corp. of China (ACH) upgraded by HSBC from Reduce to Hold
- Umicore (UMICY) upgraded by Citi from Neutral to Buy
- E2open (ETWO) upgraded by Colliers from Neutral to Buy
Downgrades
- Lanxess (LNXSF) downgraded by Goldman Sachs from Buy to Neutral
- AkzoNobel (AKZOY) downgraded by Goldman Sachs from Conviction Buy to Buy
- Aligos Therapeutics (ALGS) downgraded by Piper Sandler from Overweight to Neutral
- Reckitt Benckiser (RBGLY) downgraded by Jefferies from Hold to Underperform
- Outokumpu (OUTKY) downgraded by Morgan Stanley from Overweight to Equal Weight
- Philips (PHG) downgraded by AlphaValue/Baader from Buy to Add
- Beazley (BZLYF) downgraded by HSBC from Buy to Hold
- Inbursa (GPFOF) downgraded by BTG Pactual from Neutral to Sell
- Terns Pharmaceuticals (TERN) downgraded by JPMorgan from Overweight to Neutral
- KBC Group (KBCSY) downgraded by Barclays from Equal Weight to Underweight
- TotalEnergies (TTE) downgraded by Deutsche Bank from Buy to Hold
- American Woodmark (AMWD) downgraded by Loop Capital from Buy to Hold
- Fortune Brands (FBHS) downgraded by Loop Capital from Buy to Hold
- Stelco Holdings (STZHF) downgraded by RBC Capital from Outperform to Sector Perform
- LGI Homes (LGIH) downgraded by BTIG from Neutral to Sell
- Gan Limited (GAN) downgraded by Northland from Outperform to Market Perform
- Air China (AICAF) downgraded by Jefferies from Buy to Hold
- China Eastern Airlines (CEA) downgraded by Jefferies from Buy to Hold
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