Upgrades
- NatWest Group (NWG) upgraded by Goldman Sachs from Buy to Conviction Buy
- Lloyds Banking (LYG) upgraded by Goldman Sachs from Neutral to Buy
- America Movil (AMX) upgraded by Citi from Neutral to Buy
- Tod’s (TODGF) upgraded by Jefferies from Underperform to Hold
- Sage Group (SGPYY) upgraded by Canaccord from Hold to Buy
- Thai Oil (TOIPF) upgraded by JPMorgan from Neutral to Overweight
- Remy Cointreau (REMYY) upgraded by AlphaValue/Baader from Sell to Reduce
- Generali (ARZGY) upgraded by Kepler Cheuvreux from Hold to Buy
- Danone (DANOY) upgraded by DZ Bank from Hold to Buy
- Centrica (CPYYY) upgraded by HSBC from Reduce to Hold
- Orsted (DNNGY) upgraded by Redburn from Sell to Neutral
- Southern Company (SO) upgraded by UBS from Neutral to Buy
- Autohome (ATHM) upgraded by BofA from Underperform to Neutral
Downgrades
- HSBC (HSBC) downgraded by Goldman Sachs from Buy to Neutral
- Nedbank (NDBKY) downgraded by Goldman Sachs from Buy to Neutral
- Warrior Met Coal (HCC) downgraded by BMO Capital from Outperform to Market Perform
- Travis Perkins (TPRKY) downgraded by Peel Hunt from Buy to Add
- Levi Strauss (LEVI) downgraded by Morgan Stanley from Overweight to Equal Weight
- Medifast (MED) downgraded by Jefferies from Buy to Hold
- Hugo Boss (BOSSY) downgraded by DZ Bank from Buy to Hold
- Norway Royal Salmon (NRYYF) downgraded by DNB Markets from Buy to Hold
- Duluth Holdings (DLTH) downgraded by Baird from Outperform to Neutral
- Under Armour (UAA) downgraded by Baird from Outperform to Neutral
- Avast (AVASF) downgraded by HSBC from Buy to Hold
- Charles River (CRL) downgraded by Morgan Stanley from Overweight to Equal Weight
- Kohl’s (KSS) downgraded by Cowen from Outperform to Market Perform
- Ping Identity (PING) downgraded by BTIG from Buy to Neutral
- Just Eat Takeaway.com (JTKWY) downgraded by Barclays from Overweight to Equal Weight
- Horizon Therapeutics (HZNP) downgraded by SVB Securities from Outperform to Market Perform
- Revolve Group (RVLV) downgraded by Wedbush from Outperform to Neutral
- Camden National (CAC) downgraded by Stephens from Overweight to Equal Weight
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