Upgrades
- FirstService (FSV) upgraded by Raymond James from Market Perform to Outperform
- Plains All American (PAA) upgraded by Goldman Sachs from Neutral to Buy
- Plains GP Holdings (PAGP) upgraded by Goldman Sachs from Neutral to Buy
- Micron (MU) upgraded by Raymond James from Market Perform to Strong Buy
- General Dynamics (GD) upgraded by JPMorgan from Neutral to Overweight
- VMware (VMW) upgraded by Bernstein from Market Perform to Outperform
- Cogent (CCOI) upgraded by Goldman Sachs from Neutral to Buy
- nVent Electric (NVT) upgraded by Barclays from Equal Weight to Overweight
- Svenska Handelsbanken (SVNLY) upgraded by Nordea from Sell to Hold
- Cummins (CMI) upgraded by UBS from Sell to Neutral
Downgrades
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- Apollo Investment (AINV) downgraded by Wells Fargo from Equal Weight to Underweight
- Carlyle Group (CG) downgraded by Keefe Bruyette from Outperform to Market Perform
- Perspecta (PRSP) downgraded by Wells Fargo from Overweight to Equal Weight
- Phibro Animal Health (PAHC) downgraded by Gabelli from Buy to Hold
- Funko (FNKO) downgraded by JPMorgan from Overweight to Underweight
- FormFactor (FORM) downgraded by Stifel from Buy to Hold
- Kansas City Southern (KSU) downgraded by BMO Capital to Market Perform
- Gilead (GILD) downgraded by Bernstein from Outperform to Market Perform
- Outokumpu (OUTKY) downgraded by Goldman Sachs from Buy to Neutral
- Ingenico (INGIY) downgraded by Berenberg from Buy to Hold
- Walker & Dunlop (WD) downgraded by Compass Point from Buy to Neutral
- Trip.com Group (TCOM) downgraded by HSBC from Buy to Hold
- Gladstone Investment (GAIN) downgraded by Wedbush from Outperform to Neutral
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