Upgrades
- Coupang (CPNG) upgraded by Credit Suisse from Neutral to Outperform
- Flughafen Zuerich (FLGZY) upgraded by Berenberg from Sell to Hold
- Sitio Royalties (STR) upgraded by RBC Capital from Sector Perform to Outperform
- TotalEnergies (TTE) upgraded by Jefferies from Hold to Buy
- AP Moller Maersk (AMKBY) upgraded by JPMorgan from Neutral to Overweight
- Grand City Properties (GRNNF) upgraded by HSBC from Hold to Buy
- Wizz Air (WZZZY) upgraded by Redburn from Neutral to Buy
- Xior Student Housing (XIORF) upgraded by ING Bank from Hold to Buy
- First Republic (FRC) upgraded by Atlantic Equities from Neutral to Overweight
Downgrades
- XPeng (XPEV) downgraded by Nomura from Buy to Neutral
- Talaris Therapeutics (TALS) downgraded by SVB Securities from Outperform to Market Perform
- Duck Creek Technologies (DCT) downgraded by BofA from Buy to Neutral
- FedEx (FDX) downgraded by Berenberg from Buy to Hold
- Lancashire (LCSHF) downgraded by Barclays from Overweight to Equal Weight
- Abrdn (SLFPF) downgraded by Citi from Neutral to Sell
- Jupiter Fund (JFHHF) downgraded by Citi from Neutral to Sell
- Giant Manufacturing (GTMUF) downgraded by HSBC from Buy to Hold
- Enel (ENLAY) downgraded by HSBC from Buy to Hold
- Live Oak Bancshares (LOB) downgraded by JPMorgan from Overweight to Neutral
- Huntington Bancshares (HBAN) downgraded by JPMorgan from Overweight to Neutral
- Micron (MU) downgraded by BofA from Buy to Neutral
- Unilever Indonesia (UNLRY) downgraded by Citi from Buy to Neutral
- HBT Financial (HBT) downgraded by JPMorgan from Neutral to Underweight
- Mitsubishi Materials (MIMTF) downgraded by Morgan Stanley from Equal Weight to Underweight
- Bridgestone (BRDCY) downgraded by Morgan Stanley from Overweight to Equal Weight
- 9 Meters Biopharma (NMTR) downgraded by Maxim from Buy to Hold
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