Upgrades
- America Movil (AMX) upgraded by New Street from Neutral to Buy
- Palomar (PLMR) upgraded by Keefe Bruyette from Market Perform to Outperform
- Amdocs (DOX) upgraded by Barclays from Equal Weight to Overweight
- Castellum (CWQXF) upgraded by Barclays from Underweight to Overweight
- TUI (TUIFF) upgraded by Morgan Stanley from Underweight to Equal Weight
- Associated British Foods (ASBFY) upgraded by RBC from Sector Perform to Outperform
- China Minsheng (CMAKY) upgraded by JPMorgan from Neutral to Overweight
- Gilead (GILD) upgraded by BMO Capital from Market Perform to Outperform
- Williams (WMB) upgraded by Citi from Neutral to Buy
- Expedia (EXPE) upgraded by Gordon Haskett from Hold to Buy
- Royal Caribbean (RCL) upgraded by Argus from Hold to Buy
- Canadian Pacific Kansas City (CP) upgraded by Argus from Hold to Buy
Downgrades
- Carbon Streaming (OFSTF) downgraded by BMO Capital from Outperform to Market Perform
- Bpost (BPOSY) downgraded by Barclays from Overweight to Equal Weight
- Commerce Bancshares (CBSH) downgraded by Morgan Stanley to Underweight
- Prosperity Bancshares (PB) downgraded by Morgan Stanley to Underweight
- Cullen/Frost (CFR) downgraded by Morgan Stanley from Overweight to Equal Weight
- CTI BioPharma (CTIC) downgraded by SVB Securities from Outperform to Market Perform
- Siemens Healthineers (SMMNY) downgraded by HSBC from Buy to Hold
- Royal Bank of Canada (RY) downgraded by CIBC from Outperformer to Neutral
- Greggs (GGGSF) downgraded by Liberum from Buy to Hold
- Talanx (TNXXF) downgraded by Oddo BHF from Outperform to Neutral
- NeoGenomics (NEO) downgraded by Raymond James from Outperform to Market Perform
- Grieg Seafood (GRGSF) downgraded by Fearnley from Buy to Hold
- Xenetic (XBIO) downgraded by H.C. Wainwright from Buy to Neutral
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