Upgrades
- China Southern Airlines (CHKIF) upgraded by Goldman Sachs from Neutral to Buy
- Supermarket Income (SUPIF) upgraded by Peel Hunt from Hold to Add
- Freeport-McMoRan (FCX) upgraded by JPMorgan from Neutral to Overweight
- Equifax (EFX) upgraded by RBC Capital from Sector Perform to Outperform
- Lloyds Banking (LYG) upgraded by HSBC from Hold to Buy
- Carvana (CVNA) upgraded by Piper Sandler from Neutral to Overweight
- Spire (SR) upgraded by JPMorgan from Neutral to Overweight
- Southwest (LUV) upgraded by UBS from Sell to Neutral
- Cava Group (CAVA) upgraded by JPMorgan from Neutral to Overweight
- Williams-Sonoma (WSM) Boston Beer upgraded by Citi from Neutral to Buy
- KKR (KKR) upgraded by Wells Fargo from Equal Weight to Overweight
- Mosaic (MOS) upgraded by Oppenheimer from Perform to Outperform
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Downgrades
- Lundin Gold (LUGDF) downgraded by CIBC from Outperformer to Neutral
- Open Lending (LPRO) downgraded by Jefferies from Buy to Hold
- BMW (BMWYY) downgraded by HSBC from Buy to Hold
- Lundin Gold (LUGDF) downgraded by CIBC from Outperformer to Neutral
- Thor Industries (THO) downgraded by KeyBanc from Sector Weight to Underweight
- Malibu Boats (MBUU) downgraded by KeyBanc from Overweight to Sector Weight
- Rivian Automotive (RIVN) downgraded by Piper Sandler from Overweight to Neutral
- Stellantis (STLA) downgraded by Piper Sandler from Overweight to Neutral
- Volvo (VLVLY) downgraded by DNB Markets from Hold to Sell
- Constellation Brands (STZ) downgraded by Citi from Buy to Neutral
- BRP Inc. (DOOO) downgraded by Citi from Neutral to Sell
- Polaris (PII) downgraded by Citi from Neutral to Sell
- ZTO Express (ZTO) downgraded by JPMorgan from Overweight to Neutral
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