Upgrades
- iQIYI (IQ) upgraded by Morgan Stanley from Underweight to Equal Weight
- Scentre Group (STGPF) upgraded by Morgan Stanley from Equal Weight to Overweight
- WPP (WPP) upgraded by Goldman Sachs from Neutral to Buy
- JCDecaux (JCDXF) upgraded by Goldman Sachs from Sell to Neutral
- Informa (IFJPY) upgraded by Goldman Sachs from Buy to Conviction Buy
- Auto Trader Group (ATDRY) upgraded by Goldman Sachs from Neutral to Buy
- Suncorp Group (SNMCY) upgraded by Morgan Stanley from Equal Weight to Overweight
- Accor (ACCYY) upgraded by Barclays from Underweight to Equal Weight
- Chegg (CHGG) upgraded by KeyBanc from Sector Weight to Overweight
- Philip Morris (PM) upgraded by Jefferies from Hold to Buy
- Heineken (HEINY) upgraded by RBC Capital from Underperform to Sector Perform
- Lawson (LWSOF) upgraded by Credit Suisse from Underperform to Neutral
- IBM (IBM) upgraded by MoffettNathanson from Underperform to Market Perform
- Universal Display (OLED) upgraded by Susquehanna from Negative to Neutral
Downgrades
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- RTL Group (RGLXY) downgraded by Goldman Sachs from Buy to Neutral
- Relx (RELX) downgraded by Goldman Sachs from Buy to Neutral
- Auto1 Group (ATOGF) downgraded by Goldman Sachs from Buy to Neutral
- Equinor (EQNR) downgraded by JPMorgan from Neutral to Underweight
- Salmar (SALRF) downgraded by Berenberg from Hold to Sell
- Roblox (RBLX) downgraded by Morgan Stanley from Equal Weight to Underweight
- Newmont (NEM) downgraded by Canaccord from Buy to Hold
- Charles Schwab (SCHW) downgraded by BofA from Buy to Underperform
- Cognizant (CTSH) downgraded by MoffettNathanson from Market Perform to Underperform
- DXC Technology (DXC) downgraded by MoffettNathanson to Underperform
- Teva (TEVA) downgraded by Jefferies from Buy to Hold
- Adidas (ADDYY) downgraded by Baird from Outperform to Neutral
- Tencent Music (TME) downgraded by 86 Research from Buy to Hold
- VF Corp. (VFC) downgraded by Williams Trading from Hold to Sell
- United Community Banks (UCBI) downgraded by Janney Montgomery Scott from Buy to Neutral
- Ubisoft (UBSFY) downgraded by HSBC from Buy to Hold
- Renault (RNSDF) downgraded by HSBC from Buy to Hold
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