Upgrades
- Fannie Mae (FNMA) upgraded by Keefe Bruyette from Market Perform to Outperform
- Freddie Mac (FMCC) upgraded by Keefe Bruyette from Market Perform to Outperform
- Root (ROOT) upgraded by Keefe Bruyette from Market Perform to Outperform
- HashiCorp (HCP) upgraded by Morgan Stanley from Equal Weight to Overweight
- AvalonBay (AVB) upgraded by Morgan Stanley from Equal Weight to Overweight
- Sun Country Airlines (SNCY) upgraded by Morgan Stanley from Equal Weight to Overweight
- Southwestern Energy (SWN) upgraded by Mizuho from Underperform to Neutral
- Omega Healthcare (OHI) upgraded by Wells Fargo from Equal Weight to Overweight
- BASF (BASFY) upgraded by Stifel from Hold to Buy
- National Health Investors (NHI) upgraded by Wedbush from Neutral to Outperform
- MediaAlpha (MAX) upgraded by BMO Capital from Market Perform to Outperform
- Celanese (CE) upgraded by Piper Sandler from Neutral to Overweight
Downgrades
- Lufthansa (DLAKY) downgraded by Barclays from Overweight to Equal Weight
- Nordson (NDSN) downgraded by KeyBanc from Overweight to Sector Weight
- UDR (UDR) downgraded by Morgan Stanley from Overweight to Equal Weight
- Cogent Biosciences (COGT) downgraded by Baird from Outperform to Neutral
- Moderna (MRNA) downgraded by HSBC from Hold to Reduce
- Agilon Health (AGL) downgraded by Jefferies from Buy to Hold
- CareMax (CMAX) downgraded by Jefferies from Buy to Hold
- Ventas (VTR) downgraded by Wells Fargo from Overweight to Equal Weight
- Asos (ASOMY) downgraded by Societe Generale from Buy to Hold
- Halma (HLMAF) downgraded by HSBC from Buy to Hold
- Nestle (NSRGY) downgraded by Stifel from Buy to Hold
- Agilon Health (AGL) downgraded by TD Cowen from Outperform to Market Perform
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