Upgrades
- Vistra (VST) upgraded by BofA from Neutral to Buy
- Terex (TEX) upgraded by Deutsche Bank from Hold to Buy
- Bunzl (BZLFY) upgraded by Berenberg from Hold to Buy
- Burberry (BURBY) upgraded by Goldman Sachs from Neutral to Buy
- Swisscom (SCMWY) upgraded by Kepler Cheuvreux from Reduce to Hold
- BMW (BMWYY) upgraded by Oddo BHF from Underperform to Neutral
- Vallourec (VLOWY) upgraded by Oddo BHF from Neutral to Outperform
- NOV Inc. (NOV) upgraded by Morgan Stanley from Underweight to Equal Weight
- Deutsche Bank (DB) upgraded by RBC Capital from Underperform to Sector Perform
- Argo Group (ARGO) upgraded by Compass Point from Neutral to Buy
- Swatch Group (SWGAY) upgraded by AlphaValue from Reduce to Add
- Norfolk Southern (NSC) upgraded by Evercore ISI from In Line to Outperform
- Align Technology (ALGN) upgraded by Stephens from Equal Weight to Overweight
- State Street (STT) upgraded by UBS from Neutral to Buy
- Discover (DFS) upgraded by Citi from Neutral to Buy
Downgrades
- Alliant Energy (LNT) downgraded by BofA from Buy to Neutral
- Moncler (MONRY) downgraded by Goldman Sachs from Buy to Neutral
- Eurofins Scientific (ERFSF) downgraded by Bryan Garnier from Conviction Buy to Neutral
- Aena (ANYYY) downgraded by Oddo BHF from Outperform to Neutral
- Core Laboratories (CLB) downgraded by Morgan Stanley from Overweight to Equal Weight
- Tenaga Nasional (TNABY) downgraded by Macquarie from Outperform to Neutral
- Cloudera (CLDR) downgraded by JMP Securities from Outperform to Market Perform
- XL Fleet (XL) downgraded by BTIG from Buy to Neutral
- Bangkok Bank (BKKLY) downgraded by Macquarie from Outperform to Underperform
- Nevro (NVRO) downgraded by Redburn from Buy to Neutral
- Lion Electric (LEV) downgraded by Vertical Group from Neutral to Sell
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