Upgrades
- Siemens (SIEGY) upgraded by Morgan Stanley from Equal Weight to Overweight
- L’Oreal (LRLCY) upgraded by Goldman Sachs from Neutral to Buy
- U.S. Steel (X) upgraded by Axiom from Sell to Hold
- Discover (DFS) upgraded by Barclays from Equal Weight to Overweight
- Air Products (APD) upgraded by Jefferies from Hold to Buy
- Air Liquide (AIQUY) upgraded by Jefferies from Hold to Buy
- Waste Management (WM) upgraded by Stifel from Hold to Buy
- Advanced Disposal Services (ADSW) upgraded by Stifel from Hold to Buy
- DaVita (DVA) upgraded by Citi from Neutral to Buy
- ADP (ADP) upgraded by Goldman Sachs from Neutral to Buy
- Trade Desk (TTD) upgraded by SunTrust from Hold to Buy
- Lloyds Banking (LYG) upgraded by Exane BNP Paribas from Underperform to Neutral
- bluebird bio (BLUE) upgraded by Jefferies from Hold to Buy
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Downgrades
- Inmarsat (IMASF) downgraded by Goldman Sachs from Buy to Neutral
- Swisscom (SCMWY) downgraded by Citi from Buy to Neutral
- Kimberly-Clark (KMB) downgraded by Citi from Neutral to Sell
- Brixmor (BRX) downgraded by Mizuho from Buy to Neutral
- Flowserve (FLS) downgraded by Stifel from Buy to Hold
- TSYS (TSS) downgraded by Goldman Sachs from Buy to Neutral
- Valmont (VMI) downgraded by Stifel from Buy to Hold
- Paccar (PCAR) downgraded by JPMorgan from Overweight to Neutral
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