Upgrades
- MTU Aero Engines (MTUAY) upgraded by Berenberg from Hold to Buy
- Cranswick (CRWKF) upgraded by Jefferies from Hold to Buy
- Kering (PPRUY) upgraded by Jefferies from Hold to Buy
- Digital Realty (DLR) upgraded by Deutsche Bank from Hold to Buy
- Cullen/Frost (CFR) upgraded by JPMorgan from Underweight to Overweight
- B&M European (BMRRY) upgraded by Barclays from Equal Weight to Overweight
- Tapestry (TPR) upgraded by Jefferies from Hold to Buy
- Armstrong World (AWI) upgraded by Loop Capital from Hold to Buy
- Spotify (SPOT) upgraded by Wells Fargo from Underweight to Equal Weight
- Liberty Formula One (FWONA) upgraded by Morgan Stanley from Equal Weight to Overweight
- London Stock Exchange (LNSTY) upgraded by UBS from Neutral to Buy
- Globe Life (CL) upgraded by Evercore ISI from In Line to Outperform
- Wizz Air (WZZAF) upgraded by Citi from Sell to Neutral
- HSBC (HSBC) upgraded by Investec from Hold to Buy
- Snowflake (SNOW) upgraded by Canaccord from Hold to Buy
- Southwestern Energy (SWN) upgraded by Benchmark from Hold to Buy
- SkyCity (SKYZF) upgraded by CLSA from Outperform to Buy
- Skechers (SKX) upgraded by Argus from Hold to Buy
Downgrades
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- Continental Resources (CLR) downgraded by Stifel from Buy to Hold
- Sonos (SONO) downgraded by Morgan Stanley from Overweight to Equal Weight
- GURU Organic Energy (GUROF) downgraded by CIBC from Outperformer to Neutral
- Rolls-Royce (RYCEY) downgraded by Berenberg from Buy to Hold
- Getinge (GNGBY) downgraded by Nordea from Buy to Hold
- Robinhood (HOOD) downgraded by Atlantic Equities from Neutral to Underweight
- Derwent London (DWVYF) downgraded by Panmure Gordon from Buy to Hold
- Atos (AEXAY) downgraded by Societe Generale from Buy to Hold
- China Resources Cement (CARCY) downgraded by HSBC from Buy to Hold
- Elia Group (ELIAF) downgraded by Citi from Neutral to Sell
- Ricoh (RICOY) downgraded by CLSA from Buy to Outperform
- Community Health (CYH) downgraded by BofA from Buy to Neutral
- Cano Health (CANO) downgraded by BofA from Buy to Neutral
- Kingboard Laminates (KGBLY) downgraded by Citi from Buy to Sell
- Lam Research (LRCX) downgraded by B. Riley from Buy to Neutral
- Marvell (MRVL) downgraded by B. Riley from Buy to Neutral
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