Upgrades
- Canadian National (CNI) upgraded by CIBC from Neutral to Outperformer
- Zscaler (ZS) upgraded by BMO Capital from Market Perform to Outperform
- Inter Pipeline (IPPLF) upgraded by Industrial Alliance from Hold to Speculative Buy
- Urban Outfitters (URBN) upgraded by JPMorgan from Underweight to Neutral
- Nilfisk (NLFKF) upgraded by Danske Bank from Sell to Hold
- Oneok (OKE) upgraded by Morgan Stanley from Underweight to Equal Weight
- Western Midstream (WES) upgraded by Morgan Stanley from Underweight to Equal Weight
- Aveva (AVEVF) upgraded by Investec from Hold to Buy
- Flutter Entertainment (PDYPY) upgraded by HSBC from Reduce to Hold
- Johnson Controls (JCI) upgraded by Barclays from Equal Weight to Overweight
- Boliden (BDNNY) upgraded by Deutsche Bank from Sell to Hold
- Latam Airlines (LTMAQ) upgraded by Citi from Sell to Neutral
- Teck Resources (TECK) upgraded by Deutsche Bank from Hold to Buy
Downgrades
- NEC Corp. (NIPNF) downgraded by Morgan Stanley from Overweight to Equal Weight
- Cimarex Energy (XEC) downgraded by Mizuho from Buy to Neutral
- Ball Corp. (BLL) downgraded by BMO Capital from Outperform to Market Perform
- Crown Holdings (CCK) downgraded by BMO Capital from Outperform to Market Perform
- Iliad (ILIAY) downgraded by Berenberg from Buy to Hold
- Danone (DANOY) downgraded by Berenberg from Hold to Sell
- Kinder Morgan (KMI) downgraded by Morgan Stanley from Equal Weight to Underweight
- Magellan Midstream (MMP) downgraded by Morgan Stanley from Overweight to Equal Weight
- Verra Mobility (VRRM) downgraded by Morgan Stanley from Overweight to Equal Weight
- Illinois Tool Works (ITW) downgraded by Barclays from Equal Weight to Underweight
- Cal-Maine Foods (CALM) downgraded by BofA from Buy to Underperform
- Cabot Oil & Gas (COG) downgraded by Raymond James from Outperform to Market Perform
- Travere Therapeutics (TVTX) downgraded by Wedbush from Outperform to Neutral
- First Quantum Minerals (FQVLF) downgraded by Deutsche Bank from Buy to Hold
- AMC Entertainment (AMC) downgraded by B. Riley to Neutral from Buy
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