Upgrades
- Ciena (CIEN) upgraded by Morgan Stanley from Equal Weight to Overweight
- Bolsa Mexicana (BOMXF) upgraded by Grupo Santander from Neutral to Outperform
- Santander Chile (BSAC) upgraded by Itau BBA from Market Perform to Outperform
- Credit Agricole (CRARY) upgraded by Jefferies from Hold to Buy
- National Grid (NGG) upgraded by Goldman Sachs from Neutral to Buy
- Klaviyo (KVYO) upgraded by Barclays from Equal Weight to Overweight
- Marks & Spencer (MAKSY) upgraded by HSBC from Hold to Buy
- PagBank (PAGS) upgraded by Grupo Santander from Neutral to Outperform
- StoneCo (STNE) upgraded by Grupo Santander from Neutral to Outperform
- McCormick (MKC) upgraded by Citi from Sell to Neutral
- Darling Ingredients (DAR) upgraded by Citi from Neutral to Buy
- Haemonetics (HAE) upgraded by Needham from Hold to Buy
Downgrades
- Pure Storage (PSTG) downgraded by Morgan Stanley from Overweight to Equal Weight
- Birkenstock (BIRK) downgraded by Goldman Sachs from Buy to Neutral
- Academy Sports (ASO) downgraded by Wells Fargo from Overweight to Equal Weight
- Paramount (PARA) downgraded by Wells Fargo from Equal Weight to Underweight
- Banorte (GBOOY) downgraded by Grupo Santander from Outperform to Neutral
- Regional SAB (RGNLF) downgraded by Grupo Santander from Outperform to Neutral
- Qualitas (QUCOF) downgraded by Grupo Santander from Outperform to Neutral
- Canadian Western (CBWBF) downgraded by BMO Capital from Outperform to Market Perform
- BBVA (BBVA) downgraded by Exane BNP Paribas from Neutral to Underperform
- Academy Sports (ASO) downgraded by UBS from Buy to Neutral
- NextEra Energy (NEE) downgraded by Mizuho from Buy to Neutral
- NextEra Energy Partners (NEP) downgraded by Mizuho from Buy to Neutral
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