Upgrades
- AGF Management (AGFMF) upgraded by RBC Capital from Underperform to Sector Perform
- Hiscox (HCXLF) upgraded by JPMorgan from Underweight to Neutral
- Lonza (LZAGY) upgraded by KeyBanc from Sector Weight to Overweight
- Rolls-Royce (RYCEY) upgraded by Deutsche Bank from Hold to Buy
- Thales (THLLY) upgraded by Societe Generale from Hold to Buy
- BAE Systems (BAESY) upgraded by Societe Generale from Hold to Buy
- Ascential (AIAPF) upgraded by Berenberg from Hold to Buy
- Renault (RNSDF) upgraded by Bernstein from Market Perform to Outperform
- FibroGen (FGEN) upgraded by Raymond James from Market Perform to Outperform
- Norfolk Southern (NSC) upgraded by Deutsche Bank from Hold to Buy
- Sinopec (SNP) upgraded by Bernstein from Market Perform to Outperform
Downgrades
- Pfizer (PFE) downgraded by UBS from Buy to Neutral
- Novartis (NVS) downgraded by Citi from Buy to Neutral
- Schaeffler (SCFLF) downgraded by Berenberg from Buy to Hold
- Netcompany (NTCYF) downgraded by Morgan Stanley from Overweight to Equal Weight
- Airbus (EADSY) downgraded by Deutsche Bank from Buy to Hold
- Axfood (AXFOF) downgraded by Nordea from Buy to Hold
- EVgo (EVGO) downgraded by JPMorgan from Overweight to Neutral
- Hyatt (H) downgraded by Wells Fargo from Overweight to Equal Weight
- Fevertree Drinks (FQVTF) downgraded by Liberum from Buy to Hold
- Nasdaq (NDAQ) downgraded by Deutsche Bank from Buy to Hold
- Union Pacific (UNP) downgraded by Deutsche Bank from Buy to Hold
- Newcrest Mining (NCMGY) downgraded by UBS from Neutral to Sell
- NextEra Energy (NEE) downgraded by BofA from Buy to Neutral
- easyJet (ESYJY) downgraded by Bernstein from Outperform to Market Perform
- Carter’s (CRI) downgraded by Wedbush from Outperform to Neutral
- Popular (BPOP) downgraded by Keefe Bruyette from Outperform to Market Perform
- ManpowerGroup (MAN) downgraded by Northcoast from Buy to Neutral
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