Upgrades
- Krispy Kreme (DNUT) upgraded by HSBC from Hold to Buy
- Skechers (SKX) upgraded by Morgan Stanley from Equal Weight to Overweight
- Banca Generali (BGNMF) upgraded by Barclays from Equal Weight to Overweight
- Integral Diagnostics (ITGDF) upgraded by RBC Capital from Sector Perform to Outperform
- Ahold Delhaize (ADRNY) upgraded by BofA from Neutral to Buy
- Rio Tinto (RIO) upgraded by HSBC from Hold to Buy
- EQT Corporation (EQT) upgraded by JPMorgan from Neutral to Overweight
- Equinix (EQIX) upgraded by Wells Fargo from Equal Weight to Overweight
- Coinbase (COIN) upgraded by Citi from Neutral to Buy
- Vertical Aerospace (EVTL) upgraded by Deutsche Bank from Hold to Buy
- Snap (SNAP) upgraded by Morgan Stanley from Underweight to Equal Weight
- Argenx (ARGX) upgraded by Oppenheimer from Perform to Outperform
Downgrades
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- Crowdstrike (CRWD) downgraded by HSBC from Buy to Hold
- Under Armour (UAA) downgraded by Morgan Stanley from Equal Weight to Underweight
- Sleep Country (SCCAF) downgraded by BMO Capital from Outperform to Market Perform
- Azek (AZEK) downgraded by BMO Capital from Outperformx to Market Perform
- iQiyi (IQ) downgraded by HSBC from Hold to Reduce
- Johnson & Johnson (JNJ) downgraded by Daiwa from Outperform to Neutral
- InMode (INMD) downgraded by Jefferies from Buy to Hold
- American Airlines (AAL) downgraded by Bernstein from Outperform to Market Perform
- Air France-KLM (AFLYY) downgraded by Grupo Santander from Neutral to Underperform
- Ryanair (RYAAY) downgraded by Liberum from Buy to Hold
- Stillfront Group (STLFF) downgraded by Pareto from Buy to Hold
- Darden (DRI) downgraded by TD Cowen from Buy to Hold
- Sleep Country (SCCAF) Canada downgraded by TD Securities from Buy to Sell
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