Upgrades
- DSM (RDSMY) upgraded by JPMorgan from Neutral to Overweight
- Hitachi Construction (HTCMY) upgraded by Macquarie from Neutral to Outperform
- Svenska Handelsbanken (SVNLY) upgraded by Citi from Sell to Neutral
- Alfa Laval (ALFVY) upgraded by BofA/Merrill from Neutral to Buy
Downgrades
- Northstar Realty Europe (NRE) downgraded by JMP Securities from Outperform to Market Perform
- Adecco (AHEXY) downgraded by Deutsche Bank from Hold to Sell
- Senseonics (SENS) downgraded by Raymond James from Outperform to Market Perform
- SKF AB (SKFRY) downgraded by BofA/Merrill from Neutral to Underperform
- Spectris (SEPJF) downgraded by BofA/Merrill from Buy to Underperform
- Mercer (MERC) downgraded by CIBC from Outperformer to Neutral
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