Upgrades
- Valmet (VOYJF) upgraded by Kepler Cheuvreux from Hold to Buy
- ASM International (ASMIY) upgraded by AlphaValue/Baader from Add to Buy
- Adyen (ADYEY) upgraded by DZ Bank from Sell to Buy
- Acom (ACJJF) upgraded by Mizuho from Underperform to Neutral
- MegaChips (MEGPF) upgraded by Mizuho from Neutral to Buy
- easyJet (ESYJY) upgraded by UBS from Neutral to Buy
Downgrades
- ING Groep (ING) downgraded by Goldman Sachs from Buy to Neutral
- SSE (SSEZY) downgraded by RBC Capital from Outperform to Sector Perform
- KDDI (KDDIY) downgraded by Goldman Sachs from Buy to Neutral
- Vonage (VG) downgraded by Barclays from Overweight to Equal Weight
- Landis+Gyr (LDGYY) downgraded by Morgan Stanley from Equal Weight to Underweight
- Renishaw (RNSHF) downgraded by Morgan Stanley from Equal Weight to Underweight
- Spectris (SEPJF) downgraded by Morgan Stanley from Equal Weight to Underweight
- Sysmex (SSMXY) downgraded by Daiwa from Outperform to Neutral
- Johnson Matthey (JMPLY) downgraded by Morgan Stanley from Overweight to Equal Weight
- Avance Gas (AVACF) downgraded by Kepler Cheuvreux from Buy to Hold
- Shurgard Self Storage (SSSAF) downgraded by BofA from Buy to Neutral
- GN Store Nord (GNNDY) downgraded by Redburn from Buy to Neutral
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