Upgrades
- Puma (PUMSY) upgraded by Exane BNP Paribas from Neutral to Outperform
- Volkswagen (VWAGY) upgraded by Exane BNP Paribas from Neutral to Outperform
- Autodesk (ADSK) upgraded by Goldman Sachs from Sell to Neutral
- Forge Global (FRGE) upgraded by UBS from Neutral to Buy
- NetApp (NTAP) upgraded by Loop Capital from Hold to Buy
- Redfin (RDFN) upgraded by B. Riley from Neutral to Buy
- IFF (IFF) upgraded by Mizuho from Neutral to Outperform
- Visa (V) upgraded by Exane BNP Paribas from Neutral to Outperform
- M&T Bank (MTB) upgraded by JPMorgan from Neutral to Overweight
- Bank of America (BAC) upgraded by Deutsche Bank from Hold to Buy
- Wells Fargo (WFC) upgraded by Deutsche Bank from Hold to Buy
- Air France-KLM (AFLYY) upgraded by Redburn Atlantic from Sell to Neutral
- Unity (U) upgraded by Morgan Stanley from Equal Weight to Overweight
Downgrades
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- Simon Property (SPG) downgraded by Piper Sandler from Overweight to Neutral
- Novartis (NVS) downgraded by Jefferies from Buy to Hold
- Next plc (NXGPF) downgraded by Exane BNP Paribas from Outperform to Neutral
- BMW (BMWYY) downgraded by Exane BNP Paribas from Outperform to Neutral
- Volvo Car (VLVOF) downgraded by Exane BNP Paribas from Neutral to Underperform
- Boeing (BA) downgraded by Wells Fargo from Equal Weight to Underweight
- MasterCard (MA) downgraded by Exane BNP Paribas from Outperform to Neutral
- Caleres (CAL) downgraded by Loop Capital from Buy to Hold
- JPMorgan (JPM) downgraded by Deutsche Bank from Buy to Hold
- Xylem (XYL) downgraded by TD Cowen from Buy to Hold
- CME Group (CME) downgraded by BofA from Neutral to Underperform
- Sphere Entertainment (SPHR) downgraded by Benchmark from Hold to Sell
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