Upgrades
- UPS (UPS) upgraded by Deutsche Bank from Hold to Buy
- Canadian Pacific (CP) upgraded by Deutsche Bank from Hold to Buy
- LondonMetric (LNSPF) upgraded by Berenberg from Sell to Hold
- Airtel Africa (AAFRF) upgraded by HSBC from Hold to Buy
- Novocure (NVCR) upgraded by Wells Fargo from Equal Weight to Overweight
- Brasil Bolsa Balcao (BOLSY) upgraded by JPMorgan from Neutral to Overweight
- Geo Group (GEO) upgraded by Wedbush from Neutral to Outperform
- Spirax-Sarco (SPXSY) upgraded by UBS from Neutral to Buy
- Rotork (RTOXF) upgraded by UBS from Neutral to Buy
Downgrades
- CinCor Pharma (CINC) downgraded by Oppenheimer from Outperform to Perform
- Boohoo (BHOOY) downgraded by Berenberg from Buy to Hold
- Solvay (SLVYY) downgraded by Credit Suisse from Outperform to Underperform
- Admiral Group (AMIGY) downgraded by HSBC from Buy to Hold
- Devro (DEITF) downgraded by Investec from Buy to Hold
- Direct Line Insurance (DIISY) downgraded by HSBC from Hold to Reduce
- IMI (IMIAY) downgraded by HSBC from Buy to Hold
- LSL Property Services (LSLPF) downgraded by Peel Hunt from Buy to Hold
- Roku (ROKU) downgraded by KeyBanc from Overweight to Sector Weight
- Generac (GNRC) downgraded by Jefferies from Hold to Underperform
- Salzgitter (SZGPY) downgraded by Kepler Cheuvreux from Buy to Hold
- Darden (DRI) downgraded by Baird from Outperform to Neutral
- PagSeguro Digital (PAGS) downgraded by JPMorgan from Overweight to Neutral
- Brenntag (BNTGY) downgraded by Citi from Buy to Neutral
- SoftBank Group (SFTBY) downgraded by Citi from Buy to Neutral
- Alumina (AWCMY) downgraded by Citi from Buy to Neutral
- Halma (HLMAF) downgraded by UBS from Buy to Neutral
- Bodycote (BYPLF) downgraded by UBS from Buy to Neutral
- Goodyear Tire (GT) downgraded by Argus from Buy to Hold
- American Homes 4 Rent (AMH) downgraded by Raymond James from Strong Buy to Outperform
- Invitation Homes (INVH) downgraded by Raymond James from Strong Buy to Outperform
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