Upgrades
- Azelis (AZLGF) upgraded by JPMorgan from Neutral to Overweight
- Berkeley Group (BKGFY) upgraded by Berenberg from Hold to Buy
- Talanx (TNXXF) upgraded by Exane BNP Paribas from Neutral to Outperform
- M&G Plc (MGPUF) upgraded by Exane BNP Paribas from Underperform to Neutral
- Carvana (CVNA) upgraded by Piper Sandler from Neutral to Overweight
- Carpenter Technology (CRS) upgraded by Cowen from Market Perform to Outperform
- Cineplex (CPXGF) upgraded by RBC Capital from Sector Perform to Outperform
- APA Corp. (APA) upgraded by Citi from Neutral to Buy
- B2Gold (BTG) upgraded by TD Securities from Buy to Action List Buy
- Union Pacific (UNP) upgraded by BofA from Neutral to Buy
- Canadian National (CNI) upgraded by BofA from Neutral to Buy
- Canadian Pacific (CP) upgraded by BofA from Neutral to Buy
- Enbridge (ENB) upgraded by Raymond James from Market Perform to Outperform
- Argo Group (ARGO) upgraded by Compass Point from Neutral to Buy
- Telos (TLS) upgraded by Wedbush from Neutral to Outperform
- Vale (VALE) upgraded by RBC Capital from Sector Perform to Outperform
Downgrades
- Corus (CJREF) downgraded by National Bank from Outperform to Sector Perform
- Oak Street Health (OSH) downgraded by Goldman Sachs from Buy to Neutral
- Barratt Developments (BTDPY) downgraded by Berenberg from Buy to Hold
- Bellway (BLWYF) downgraded by Berenberg from Buy to Hold
- Crest Nicholson (CRTHF) downgraded by Berenberg from Buy to Hold
- Persimmon (PSMMY) downgraded by Berenberg from Buy to Hold
- Redrow (RDWWF) downgraded by Berenberg from Buy to Hold
- Taylor Wimpey (TWODF) downgraded by Berenberg from Buy to Hold
- Vistry Group (BVHMF) downgraded by Berenberg from Buy to Hold
- Pernod Ricard (PDRDF) downgraded by Deutsche Bank from Buy to Hold
- Legal & General (LGGNY) downgraded by Exane BNP Paribas from Outperform to Neutral
- Phoenix Group (PNXGF) downgraded by Exane BNP Paribas from Outperform to Neutral
- Adobe (ADBE) downgraded by Mizuho from Buy to Neutral
- Cable One (CABO) downgraded by Wells Fargo from Overweight to Equal Weight
- Occidental Petroleum (OXY) downgraded by Citi from Buy to Neutral
- Livent (LTHM) downgraded by Vertical Research from Buy to Hold
- CubicFarm Systems (CUBXF) downgraded by Stifel from Speculative Buy to Sell
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