Upgrades
- ZTO Express (ZTO) upgraded by Goldman Sachs from Neutral to Buy
- TeamViewer (TMVWY) upgraded by Goldman Sachs from Neutral to Buy
- SAP (SAP) upgraded by Citi from Neutral to Buy
- Universal Health (UHS) upgraded by Barclays from Underweight to Equal Weight
- Volvo (VLVLY) upgraded by Morgan Stanley from Underweight to Equal Weight
- Software AG (STWRY) upgraded by DZ Bank from Sell to Hold
- Philips (PHG) upgraded by Societe Generale from Sell to Hold
- L’Oreal (LRLCY) upgraded by Societe Generale from Sell to Hold
- Squarespace (SQSP) upgraded by Citi from Neutral to Buy
- Range Resources (RRC) upgraded by Benchmark from Hold to Buy
- Sierra Bancorp (BSRR) upgraded by DA Davidson from Neutral to Buy
- Asur (ASR) upgraded by BBVA from Market Perform to Outperform
- Nvidia (NVDA) upgraded by Erste Group from Hold to Buy
- Source Energy Services (SCEYF) upgraded by BMO Capital from Market Perform to Outperform
Downgrades
- Ares Commercial (ACRE) downgraded by BTIG from Buy to Neutral
- PDD Holdings (PDD) downgraded by Goldman Sachs from Buy to Neutral
- Capri Holdings (CPRI) downgraded by Jefferies from Buy to Hold
- ASML (ASML) downgraded by Stifel from Buy to Hold
- Software AG (STWRY) downgraded by Baader Helvea from Buy to Add
- Austevoll Seafood (ASTVF) downgraded by Fearnley from Buy to Hold
- First Republic (FRC) downgraded by Janney Montgomery Scott from Neutral to Sell
- DigitalOcean (DOCN) downgraded by Needham from Buy to Hold
- Cal-Maine Foods (CALM) downgraded by Stephens from Overweight to Equal Weight
- NextEra Energy (NEE) downgraded by Erste Group from Buy to Hold
- Kering (PPRUY) downgraded by Erste Group from Buy to Hold
- Day One Biopharmaceuticals (DAWN) downgraded by BofA from Buy to Underperform
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