Upgrades
- Adevinta (ADEVF) upgraded by Morgan Stanley from Equal Weight to Overweight
- Galenica (GALNF) upgraded by Deutsche Bank from Sell to Hold
- Hengan (HEGIF) upgraded by JPMorgan from Neutral to Overweight
- Capitaland Ascendas REIT (ACDSF) upgraded by HSBC from Hold to Buy
- Mapletree Industrial Trust (MAPIF) upgraded by HSBC from Hold to Buy
- Wynn Resorts (WYNN) upgraded by Barclays from Equal Weight to Overweight
- Tencent Music (TME) upgraded by Macquarie from Underperform to Neutral
- Nibe Industrier (NDRBF) upgraded by Kepler Cheuvreux from Hold to Buy
- BioNTech (BNTX) upgraded by Redburn from Neutral to Buy
- Tencent Music (TME) upgraded by Citi from Neutral to Buy
- AppLovin (APP) upgraded by BofA from Neutral to Buy
- Old Dominion (ODFL) upgraded by Evercore ISI from In Line to Outperform
- Norfolk Southern (NSC) upgraded by Evercore ISI from In Line to Outperform
- Tencent Music (TME) upgraded by China Renaissance from Hold to Buy
Downgrades
- InPost (INPOY) downgraded by JPMorgan from Overweight to Neutral
- Sonova (SONVY) downgraded by JPMorgan from Overweight to Neutral
- Nutrien (NTR) downgraded by Berenberg from Buy to Hold
- Magellan Midstream (MMP) downgraded by Citi from Buy to Neutral
- WeWork (WE) downgraded by Mizuho from Buy to Neutral
- Knight-Swift (KNX) downgraded by Credit Suisse from Outperform to Neutral
- Werner (WERN) downgraded by Credit Suisse from Outperform to Neutral
- NeoGames (NGMS) downgraded by Jefferies from Buy to Hold
- Grieg Seafood (GRGSF) downgraded by DNB Markets from Buy to Hold
- Hornbach Holding (HBBHF) downgraded by Oddo BHF from Outperform to Neutral
- Tyman (LPUSF) downgraded by Peel Hunt from Buy to Add
- On Holding (ONON) downgraded by Williams Trading from Hold to Sell
- Magellan Midstream (MMP) downgraded by RBC Capital from Outperform to Sector Perform
- Consolidated Water (CWCO) downgraded by Janney Montgomery Scott from Buy to Neutral
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