Upgrades
- CES Energy Solutions (CESDF) upgraded by National Bank from Sector Perform to Outperform
- Huntington Bancshares (HBAN) upgraded by Wolfe Research from Peer Perform to Outperform
- Valley National (VLY) upgraded by Morgan Stanley from Equal Weight to Overweight
- ABN Amro (AAVMY) upgraded by Kepler Cheuvreux from Hold to Buy
- Virbac (VRBCF) upgraded by Oddo BHF from Neutral to Outperform
- FedEx (FDX) upgraded by BNP Paribas Exane from Underperform to Outperform
- Meta Platforms (META) upgraded by Needham from Underperform to Hold
- Whitecap Resources (SPGYF) upgraded by Raymond James from Outperform to Strong Buy
- Surge Energy (ZPTAF) upgraded by Raymond James from Market Perform to Outperform
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Downgrades
- PNC Financial (PNC) downgraded by Wolfe Research from Outperform to Peer Perform
- Two Harbors (TWO) downgraded by Citizens JMP from Outperform to Market Perform
- Rio Tinto (RIO) downgraded by Berenberg from Buy to Hold
- BE Semiconductor (BESIY) downgraded by Barclays from Overweight to Equal Weight
- Nordic Semiconductor (NDCVF) downgraded by BofA from Buy to Underperform
- MDA Space (MDALF) downgraded by Scotiabank from Outperform to Sector Perform
- Keller Group (KLRGF) downgraded by Deutsche Bank from Buy to Hold
- Nuvista Energy (NUVSF) downgraded by Raymond James from Outperform to Market Perform
- Imperial Oil (IMO) downgraded by Raymond James from Outperform to Market Perform
- NV5 Global (NVEE) downgraded by Maxim from Buy to Hold
- Theratechnologies (THTX) downgraded by JonesResearch from Buy to Hold
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