Upgrades
- Summit Materials (SUM) upgraded by Goldman Sachs from Sell to Neutral
- Devon Energy (DVN) upgraded by Raymond James from Outperform to Strong Buy
- Aperam (APEMY) upgraded by Kepler Cheuvreux from Hold to Buy
- Ebro Foods (EBRPY) upgraded by UBS from Neutral to Buy
- Atlas Copco (ATLKY) upgraded by Kepler Cheuvreux from Reduce to Hold
- Boeing (BA) upgraded by Cowen from Market Perform to Outperform
- Nio (NIO) upgraded by Citi from Neutral to Buy
- Williams-Sonoma (WSM) upgraded by BofA from Underperform to Neutral
- Stryker (SYK) upgraded by Evercore ISI from In Line to Outperform
- Methanex (MEOH) upgraded by RBC Capital from Sector Perform to Outperform
- Affirm (AFRM) upgraded by BofA from Neutral to Buy
- TransAlta (TAC) upgraded by BMO Capital from Market Perform to Outperform
- Equity Residential (EQR) upgraded by BMO Capital from Market Perform to Outperform
- Raiffeisen (RAIFY) upgraded by JPMorgan from Neutral to Overweight
- Intuitive Surgical (ISRG) upgraded by Evercore ISI from Underperform to In Line
Downgrades
- Allison Transmission (ALSN) downgraded by Goldman Sachs from Buy to Sell
- TFI International (TFII) downgraded by BMO Capital from Outperform to Market Perform
- Sixt (SIXGF) downgraded by Berenberg from Buy to Hold
- Bridgestone (BRDCY) downgraded by Goldman Sachs from Buy to Neutral
- F5 Networks (FFIV) downgraded by Goldman Sachs from Neutral to Sell
- Lumentum (LITE) downgraded by Goldman Sachs from Buy to Neutral
- Brother Industries (BRTHY) downgraded by Mizuho from Buy to Neutral
- Shenzhou (SHZHY) downgraded by Daiwa from Buy to Outperform
- easyJet (ESYJY) downgraded by UBS from Buy to Neutral
- Vivendi (VIVHY) downgraded by Bernstein from Outperform to Market Perform
- News Corp. (NWSA) downgraded by UBS from Buy to Neutral
- Fortis (FTS) downgraded by BMO Capital from Outperform to Market Perform
- Deutsche Wohnen (DTCWY) downgraded by Jefferies from Buy to Hold
- Lennox (LII) downgraded by Vertical Research from Hold to Sell
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