Upgrades
- Universal Music Group (UMGNF) upgraded by Goldman Sachs from Buy to Conviction Buy
- Wolters Kluwer (WTKWY) upgraded by Goldman Sachs from Neutral to Buy
- Scout24 (SCOTF) upgraded by Goldman Sachs from Neutral to Buy
- CES Energy (CESDF) upgraded by National Bank from Sector Perform to Outperform
- Lonza (LZAGY) upgraded by Citi from Neutral to Buy
- Moncler (MONRF) upgraded by RBC Capital from Underperform to Sector Perform
- Dechra (DCHPF) upgraded by RBC Capital from Sector Perform to Outperform
- Antero Resources (AR) upgraded by Truist from Hold to Buy
- Moneysupermarket.com (MNSKY) upgraded by Liberum from Hold to Buy
- Asos (ASOMY) upgraded by Exane BNP Paribas from Underperform to Neutral
- Proximus (BGAOF) upgraded by Citi from Sell to Neutral
- Fevertree Drinks (FQVTF) upgraded by Redburn from Sell to Neutral
- Excelerate Energy (EE) upgraded by Wells Fargo from Equal Weight to Overweight
- BNP Paribas (BNPQY) upgraded by Deutsche Bank from Hold to Buy
- AB InBev (BUD) upgraded by Citi from Neutral to Buy
- Crocs (CROX) upgraded by Loop Capital from Hold to Buy
Downgrades
- Publicis (PUBGY) downgraded by Goldman Sachs from Buy to Neutral
- Zenvia (ZENV) downgraded by Goldman Sachs from Buy to Neutral
- Aegon (AEG) downgraded by Exane BNP Paribas from Neutral to Underperform
- Sony (SONY) downgraded by Citi from Buy to Neutral
- Burberry (BURBY) downgraded by Exane BNP Paribas from Outperform to Neutral
- Boohoo (BHOOY) downgraded by Exane BNP Paribas from Outperform to Neutral
- Texas Instruments (TXN) downgraded by DZ Bank from Buy to Hold
- Standard Chartered (SCBFF) downgraded by Keefe Bruyette from Outperform to Market Perform
- Talaris (TALS) downgraded by Morgan Stanley from Overweight to Equal Weight
- Credit Agricole (CRARY) downgraded by Deutsche Bank from Buy to Hold
- Voyager Digital (VYGVF) downgraded by H.C. Wainwright from Buy to Neutral
- HP Inc. (HPQ) downgraded by Evercore ISI from Outperform to In Line
- Aveanna (AVAH) downgraded by Truist from Buy to Hold
- Novocure (NVCR) downgraded by Evercore ISI from In Line to Underperform
- PerkinElmer (PKI) downgraded by Evercore ISI from Outperform to In Line
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