Upgrades
- Ubisoft (UBSFY) upgraded by Bernstein from Underperform to Market Perform
- Cemex (CX) upgraded by RBC Capital from Underperform to Sector Perform
- Ubisoft (UBSFY) upgraded by UBS from Sell to Neutral
- UWM Holdings (UWMC) upgraded by Barclays from Underweight to Equal Weight
- Wells Fargo (WFC) upgraded by Wolfe Research from Peer Perform to Outperform
- Gruma (GPAGF) upgraded by JPMorgan from Neutral to Overweight
- Nexteer Automotive (NTXVF) upgraded by JPMorgan from Neutral to Overweight
- Humana (HUM) upgraded by Bernstein from Market Perform to Outperform
- Waters (WAT) upgraded by Jefferies from Hold to Buy
- Affirm (AFRM) upgraded by BTIG from Neutral to Buy
- Sun Country Airlines (SNCY) upgraded by Wolfe Research from Peer Perform to Outperform
- UFP Industries (UFPI) upgraded by Wedbush from Neutral to Outperform
Downgrades
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- American Express (AXP) downgraded by HSBC from Buy to Hold
- Frontier Communications (FYBR) downgraded by TD Cowen from Buy to Hold
- Coloplast (CLPBY) downgraded by Morgan Stanley from Equal Weight to Underweight
- OneMain (OMF) downgraded by Barclays from Overweight to Equal Weight
- Qualcomm (QCOM) downgraded by KeyBanc from Overweight to Sector Weight
- Synaptics (SYNA) downgraded by KeyBanc from Overweight to Sector Weight
- Otis Worldwide (OTIS) downgraded by Wolfe Research from Outperform to Peer Perform
- China Southern Airlines (CHKIF) downgraded by JPMorgan from Overweight to Neutral
- CME Group (CME) downgraded by Redburn Atlantic from Buy to Neutral
- Constellation Brands (STZ) downgraded by TD Cowen from Buy to Hold
- AB InBev (BUD) downgraded by TD Cowen from Buy to Hold
- American Express (AXP) downgraded by BTIG from Neutral to Sell
- Microsoft (MSFT) downgraded by Oppenheimer from Outperform to Perform
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