Upgrades
- Huazhu Group (HTHT) upgraded by Credit Suisse from Neutral to Outperform
- British Land (BTLCY) upgraded by Jefferies from Underperform to Hold
- Schindler (SHLAF) upgraded by Goldman Sachs from Neutral to Buy
- CompuGroup Medical (CMPUY) upgraded by Bryan Garnier from Neutral to Buy
- Next plc (NXGPF) upgraded by Societe Generale from Hold to Buy
- Software AG (STWRY) upgraded by Morgan Stanley from Underweight to Equal Weight
- Rentokil (RTOKY) upgraded by Exane BNP Paribas from Neutral to Outperform
- TAG Immobilien (TAGOF) upgraded by Societe Generale from Hold to Buy
- Gecina (GECFF) upgraded by Societe Generale from Hold to Buy
- Farfetch (FTCH) upgraded by Societe Generale from Hold to Buy
- Teva (TEVA) upgraded by Bernstein from Market Perform to Outperform
- Rio Tinto (RIO) upgraded by UBS from Sell to Neutral
- Drax (DRXGY) upgraded by Morgan Stanley from Equal Weight to Overweight
- Adidas (ADDYY) upgraded by Baird from Neutral to Outperform
Downgrades
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- Prudential (PRU) downgraded by Credit Suisse from Outperform to Neutral
- Telenor (TELNY) downgraded by Goldman Sachs from Neutral to Sell
- Honest Company (HNST) downgraded by Jefferies from Buy to Hold
- Wartsila (WRTBY) downgraded by Goldman Sachs from Neutral to Sell
- Volvo (VLVLY) downgraded by Goldman Sachs from Conviction Buy to Buy
- Legrand (LGRDY) downgraded by Goldman Sachs from Buy to Neutral
- Dassault Aviation (DUAVF) downgraded by Goldman Sachs from Buy to Neutral
- Restaurant Group (RSTGF) downgraded by Barclays from Equal Weight to Underweight
- Brookfield Renewable Partners (BEP) downgraded by Industrial Alliance from Buy to Hold
- Switch (SWCH) downgraded by Wells Fargo from Overweight to Equal Weight
- CaixaBank (CAIXY) downgraded by Oddo BHF from Outperform to Neutral
- BBVA (BBVA) downgraded by Oddo BHF from Outperform to Neutral
- Bunzl (BZLFY) downgraded by HSBC from Buy to Hold
- Fortinet (FTNT) downgraded by BofA from Buy to Neutral
- MarketWise (MKTW) downgraded by Raymond James from Outperform to Market Perform
- Kingsoft Cloud (KC) downgraded by CLSA from Buy to Outperform
- Carnival (CCL) downgraded by Argus from Buy to Hold
- Titan Medical (TMDI) downgraded by Oppenheimer from Outperform to Perform
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