Upgrades
- Eastman Chemical (EMN) upgraded by Piper Sandler from Neutral to Overweight
- Celanese (CE) upgraded by Piper Sandler from Underweight to Neutral
- Dow Inc. (DOW) upgraded by Piper Sandler from Neutral to Overweight
- LyondellBasell (LYB) upgraded by Piper Sandler from Neutral to Overweight
- Westlake (WLK) upgraded by Piper Sandler from Neutral to Overweight
- Goldman Sachs (GS) upgraded by UBS from Neutral to Buy
- Confluent (CFLT) upgraded by Morgan Stanley from Equal Weight to Overweight
- Lazard (LAZ) upgraded by Morgan Stanley from Underweight to Equal Weight
- Shopify (SHOP) upgraded by JMP Securities from Market Perform to Outperform
- Raytheon Technologies (RTX) upgraded by Wolfe Research from Peer Perform to Outperform
- Global Payments (GPN) upgraded by Goldman Sachs from Neutral to Buy
- Realty Income (O) upgraded by Scotiabank from Sector Perform to Outperform
- Essex Property Trust (ESS) upgraded by Scotiabank from Underperform to Outperform
Downgrades
- Tullow Oil (TUWOY) downgraded by Jefferies from Hold to Underperform
- Diversified Energy (DECPF) downgraded by Jefferies from Buy to Hold
- L’Oreal (LRLCY) downgraded by Deutsche Bank from Buy to Hold
- Bombardier (BDRBF) downgraded by Wolfe Research from Outperform to Peer Perform
- Insight Enterprises (NSIT) downgraded by Stifel from Buy to Hold
- Lockheed Martin (LMT) downgraded by Baird from Outperform to Neutral
- Kaiser Aluminum (KALU) downgraded by Wolfe Research from Peer Perform to Underperform
- Empire State Realty (ESRT) downgraded by Evercore ISI from Outperform to In Line
- Imperial Oil (IMO) downgraded by RBC Capital from Outperform to Sector Perform
- MEG Energy (MEGEF) downgraded by RBC Capital from Outperform to Sector Perform
- MAA (MAA) downgraded by Scotiabank from Sector Perform to Underperform
- Take-Two (TTWO) downgraded by Exane BNP Paribas from Outperform to Neutral
- Abercrombie & Fitch (ANF) downgraded by Argus from Buy to Hold
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