Upgrades
- Pinduoduo (PDD) upgraded by HSBC from Hold to Buy
- Pinduoduo (PDD) upgraded by Nomura from Neutral to Buy
- American Outdoor Brands (AOUT) upgraded by B. Riley from Neutral to Buy
- Japan Hotel REIT (NIPOF) upgraded by Daiwa from Neutral to Outperform
- Bayer (BAYRY) upgraded by Exane BNP Paribas from Neutral to Outperform
- Schoeller-Bleckmann (SBOEF) upgraded by Erste Group from Accumulate to Buy
- Stanley Electric (STAEF) upgraded by JPMorgan from Underweight to Neutral
- Kingboard Laminates (KGBLY) upgraded by Citi from Sell to Neutral
- Sealed Air (SEE) upgraded by JPMorgan from Underweight to Neutral
- Localiza (LZRFY) upgraded by JPMorgan from Neutral to Overweight
- Arco Platform (ARCE) upgraded by JPMorgan from Neutral to Overweight
- MakeMyTrip (MMYT) upgraded by BofA from Neutral to Buy
- Gap (GPS) upgraded by Barclays from Underweight to Equal Weight
Downgrades
- Kingspan Group (KGSPY) downgraded by Jefferies from Buy to Hold
- Greentown Service Group (GRTNF) downgraded by Nomura from Buy to Neutral
- Petrobras (PBR) downgraded by Itau BBA from Outperform to Market Perform
- Cabaletta Bio (CABA) downgraded by Morgan Stanley from Overweight to Equal Weight
- Azure Power (AZRE) downgraded by Credit Suisse from Outperform to Underperform
- Canadian Utilities (CDUAF) downgraded by Credit Suisse from Neutral to Underperform
- Molecular Partners (MOLN) downgraded by RBC Capital from Outperform to Sector Perform
- Carrefour (CRRFY) downgraded by JPMorgan from Overweight to Neutral
- Lument Finance Trust (LFT) downgraded by Piper Sandler from Overweight to Neutral
- ObsEva (OBSV) downgraded by H.C. Wainwright from Buy to Neutral
- WiseTech (WTCHF) downgraded by Citi from Neutral to Sell
- Genesco (GCO) downgraded by Seaport Global from Buy to Neutral
- Minerals Technologies (MTX) downgraded by CL King from Buy to Neutral
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