Upgrades
- Teradyne (TER) upgraded by Goldman Sachs from Neutral to Buy
- Mercedes-Benz (MBGYY) upgraded by Morgan Stanley from Equal Weight to Overweight
- GrainCorp (GRCLF) upgraded by RBC Capital from Sector Perform to Outperform
- Globus Medical (GMED) upgraded by Piper Sandler from Neutral to Overweight
- Micron (MU) upgraded by Morgan Stanley from Underweight to Equal Weight
- Universal Health (UHS) upgraded by UBS from Neutral to Buy
- Aston Martin Lagonda (ARGGY) upgraded by HSBC from Hold to Buy
- Spectris (SEPJF) upgraded by HSBC from Hold to Buy
- Universal Music Group (UMGNF) upgraded by HSBC from Reduce to Hold
- Ubisoft (UBSFY) upgraded by Cantor Fitzgerald from Neutral to Overweight
- Huya (HUYA) upgraded by JPMorgan from Neutral to Overweight
- Eurocash (EUSHY) upgraded by Citi from Sell to Buy
Downgrades
- Rio Tinto Limited (RTNTF) downgraded by Citi from Buy to Neutral
- Impinj (PI) downgraded by Goldman Sachs from Buy to Neutral
- Volkswagen (VWAGY) downgraded by Morgan Stanley from Equal Weight to Underweight
- Porsche AG (DRPRF) downgraded by Morgan Stanley from Equal Weight to Underweight
- Sonova (SONVY) downgraded by Morgan Stanley from Overweight to Equal Weight
- Scor (SCRYY) downgraded by HSBC from Buy to Hold
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