Upgrades
- Coupang (CPNG) upgraded by Citi from Neutral to Buy
- Adidas (ADDYY) upgraded by Morgan Stanley from Underweight to Overweight
- VF Corp. (VFC) upgraded by Williams Trading from Sell to Hold
- Masimo (MASI) upgraded by Stifel from Hold to Buy
- Frontier Communications (FYBR) upgraded by Citi from Neutral to Buy
- BASF (BASFY) upgraded by Kepler Cheuvreux from Hold to Buy
- Covestro (COVTY) upgraded by Kepler Cheuvreux from Hold to Buy
- Triumph Group (TGI) upgraded by JPMorgan from Underweight to Neutral
- Lockheed Martin (LMT) upgraded by JPMorgan from Neutral to Overweight
- Churchill Downs (CHDN) upgraded by Wells Fargo from Equal Weight to Overweight
- Olympus (OLYMY) upgraded by Goldman Sachs from Neutral to Buy
- Cisco (CSCO) upgraded by BofA from Neutral to Buy
Downgrades
- Logitech (LOGI) downgraded by Morgan Stanley from Equal Weight to Underweight
- BASF (BASFY) downgraded by Exane BNP Paribas from Neutral to Underperform
- Solvay (SLVYY) downgraded by Deutsche Bank from Buy to Hold
- CRH (CRH) downgraded by Stifel from Buy to Hold
- Vimian (VIMGF) downgraded by UBS from Buy to Neutral
- Malibu Boats (MBUU) downgraded by Raymond James from Outperform to Market Perform
- AvidXchange (AVDX) downgraded by Goldman Sachs from Neutral to Sell
- Rollins (ROL) downgraded by UBS from Buy to Neutral
- ServiceNow (NOW) downgraded by Guggenheim from Buy to Neutral
- Air Liquide (AIQUY) downgraded by Kepler Cheuvreux from Hold to Reduce
- PHC Holdings (PHCCF) downgraded by Goldman Sachs from Buy to Neutral
- Brunswick (BC) downgraded by Exane BNP Paribas from Outperform to Neutral
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