Upgrades
- Realogy (RLGY) upgraded by Keefe Bruyette from Market Perform to Outperform
- PPL Corp. (PPL) upgraded by Wells Fargo from Equal Weight to Overweight
- Commerzbank (CRZBY) upgraded by UBS from Sell to Neutral
- Hankyu Hanshin (HYUHF) upgraded by JPMorgan from Underweight to Neutral
- Schrodinger (SDGR) upgraded by Morgan Stanley from Equal Weight to Overweight
- Merlin Properties (MRPRF) upgraded by Morgan Stanley from Equal Weight to Overweight
- British Land (BTLCY) upgraded by Morgan Stanley from Underweight to Equal Weight
- Land Securities Group (LSGOF) upgraded by Morgan Stanley from Underweight to Equal Weight
- LondonMetric (LNSPF) upgraded by Morgan Stanley from Equal Weight to Overweight
- Big Yellow Group (BYLOF) upgraded by Morgan Stanley from Underweight to Equal Weight
- Faurecia (FURCF) upgraded by Citi from Neutral to Buy
- Canadian National (CNI) upgraded by Citi from Neutral to Buy
- Apple (AAPL) upgraded by Wolfe Research from Underperform to Peer Perform
- PointsBet (PBTHF) upgraded by JPMorgan from Underweight to Neutral
Downgrades
- Landmark (LMRK) downgraded by Raymond James from Market Perform to Underperform
- Bunzl (BZLFY) downgraded by Stifel from Buy to Hold
- Spark Infrastructure (SFDPF) downgraded by Credit Suisse from Outperform to Neutral
- Furukawa Electric (FUWAY) downgraded by Mizuho from Buy to Neutral
- CP All (CPPCY) downgraded by Macquarie from Outperform to Underperform
- American Water (AWK) downgraded by HSBC from Buy to Hold
- DTE Energy (DTE) downgraded by Wells Fargo from Overweight to Equal Weight
- AMC Entertainment (AMC) downgraded by Macquarie from Neutral to Underperform
- Reading International (RDI) downgraded by Macquarie from Outperform to Neutral
- Warehouses De Pauw (WDPSF) downgraded by Morgan Stanley from Overweight to Equal Weight
- Alstria Office (ALSRF) downgraded by Morgan Stanley from Overweight to Equal Weight
- LEG Immobilien (LEGIF) downgraded by Morgan Stanley from Overweight to Equal Weight
- DSM (RDSMY) downgraded by JPMorgan from Overweight to Neutral
- Kansas City Southern (KSU) downgraded by Loop Capital from Buy to Hold
- Facebook (FB) downgraded by Rosenblatt from Buy to Neutral
- Freee (FREKF) downgraded by Citi from Buy to Neutral
- ANZ Bank (ANZBY) downgraded by JPMorgan from Overweight to Neutral
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