Upgrades
- Carlsberg (CABGY) upgraded by JPMorgan from Underweight to Neutral
- Direct Line Insurance (DIISY) upgraded by Deutsche Bank from Hold to Buy
- Legal & General (LGGNY) upgraded by Deutsche Bank from Hold to Buy
- BMW (BMWYY) upgraded by JPMorgan from Neutral to Overweight
- Michelin (MGDDY) upgraded by JPMorgan from Underweight to Neutral
- Siltronic (SSLLF) upgraded by Berenberg from Hold to Buy
- Vestas Wind (VWDRY) upgraded by Berenberg from Hold to Buy
- Torex Gold Resources (TORXF) upgraded by RBC Capital from Sector Perform to Outperform
- AvalonBay (AVB) upgraded by JPMorgan from Underweight to Neutral
- Harbour Energy (HBRIY) upgraded by Peel Hunt from Hold to Add
- Tuya (TUYA) upgraded by Morgan Stanley from Equal Weight to Overweight
- RBC Bearings (RBC) upgraded by BofA from Underperform to Buy
Downgrades
- Hershey (HSY) downgraded by Piper Sandler from Overweight to Neutral
- Diageo (DEO) downgraded by JPMorgan from Overweight to Neutral
- Sosei Group (SOLTF) downgraded by Jefferies from Buy to Hold
- TotalEnergies (TTE) downgraded by Jefferies from Buy to Hold
- Aviva (AVVIY) downgraded by Deutsche Bank from Buy to Hold
- Legrand (LGRDY) downgraded by RBC Capital from Sector Perform to Underperform
- Splunk (SPLK) downgraded by Truist from Buy to Hold
- Carlyle (CG) downgraded by Evercore ISI from Outperform to In Line
- Airbnb (ABNB) downgraded by Jefferies from Buy to Hold
- Volkswagen (VWAGY) downgraded by JPMorgan from Overweight to Neutral
- Cool Company (CLCO) downgraded by Pareto from Buy to Hold
- Constellation Energy (CEG) downgraded by Seaport Research from Buy to Neutral
- NetApp (NTAP) downgraded by Northland from Outperform to Market Perform
- Leslie’s (LESL) downgraded by Goldman Sachs from Buy to Neutral
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