Upgrades
- Link Administration (LKADF) upgraded by Morgan Stanley from Equal Weight to Overweight
- Salzgitter (SZGPY) upgraded by Morgan Stanley from Underweight to Equal Weight
- MetLife (MET) upgraded by Wolfe Research from Peer Perform to Outperform
- MGIC Investment (MTG) upgraded by RBC Capital from Sector Perform to Outperform
- Rentokil (RTOKY) upgraded by Deutsche Bank from Hold to Buy
- Eurofins Scientific (ERFSF) upgraded by Deutsche Bank from Sell to Hold
- Funko (FNKO) upgraded by JPMorgan from Neutral to Overweight
- Snowflake (SNOW) upgraded by JPMorgan from Neutral to Overweight
- Frontier Group (ULCC) upgraded by Raymond James from Market Perform to Outperform
- Southwest (LUV) upgraded by Raymond James from Outperform to Strong Buy
- Daicel (DACHF) upgraded by Goldman Sachs from Sell to Neutral
Downgrades
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- Teck Resources (TECK) downgraded by Morgan Stanley from Overweight to Equal Weight
- Rio Tinto (RIO) downgraded by Morgan Stanley from Overweight to Equal Weight
- Lincoln National (LNC) downgraded by Wolfe Research from Outperform to Peer Perform
- Travelers (TRV) downgraded by Wolfe Research from Outperform to Peer Perform
- Athira Pharma (ATHA) downgraded by Jefferies from Buy to Hold
- Acuity Brands (AYI) downgraded by William Blair from Outperform to Market Perform
- Intertek (IKTSY) downgraded by Deutsche Bank from Buy to Hold
- RBC Bearings (ROLL) downgraded by BofA from Buy to Neutral
- Boise Cascade (BCC) downgraded by BofA from Buy to Neutral
- Louisiana-Pacific (LPX) downgraded by BofA from Buy to Neutral
- Leslie’s (LESL) downgraded by Loop Capital from Buy to Hold
- W.P. Carey (WPC) downgraded by Evercore ISI from Outperform to In Line
- Agco (AGCO) downgraded by Morgan Stanley from Overweight to Equal Weight
- Coinbase (COIN) downgraded by Redburn from Buy to Neutral
- Marathon Digital (MARA) downgraded by B. Riley from Buy to Neutral
- Alaska Air (ALK) downgraded by Raymond James from Strong Buy to Outperform
- Kansai Paint (KSANF) downgraded by Goldman Sachs from Neutral to Sell
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