Upgrades
- Sonova (SONVY) upgraded by Exane BNP Paribas from Underperform to Outperform
- Lectra (LCTSF) upgraded by Exane BNP Paribas from Neutral to Outperform
- Forvia (FURCF) upgraded by Barclays from Underweight to Overweight
- Gestamp (GMPUF) upgraded by Barclays from Equal Weight to Overweight
- Hutchmed (HCM) upgraded by Deutsche Bank from Hold to Buy
- Virgin Money (CYBF) upgraded by Exane BNP Paribas from Underperform to Neutral
- Fresenius Medical (FMS) upgraded by HSBC from Reduce to Hold
- Evonik (EVKIF) upgraded by Stifel from Hold to Buy
Downgrades
- Endesa (ELEZY) downgraded by Exane BNP Paribas from Outperform to Neutral
- Michelin (MGDDY) downgraded by Barclays from Overweight to Underweight
- Porsche (POAHY) downgraded by Barclays from Overweight to Equal Weight
- Mercedes-Benz (MBGYY) downgraded by Barclays from Overweight to Equal Weight
- Sage Group (SGPYY) downgraded by Canaccord from Hold to Sell
- Telecom Argentina (TEO) downgraded by Scotiabank from Sector Perform to Underperform
- Bayer (BAYRY) downgraded by Kepler Cheuvreux from Buy to Hold
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