Upgrades: Assa Abloy (ASAZY) upgraded to Neutral from Underperform at Exane BNP Paribas Avadel Pharmaceuticals (AVDL) upgraded to Buy from Hold at Jefferies; tgt raised to $11 Swisscom (SCMWY) upgraded to Buy from Hold at HSBC Securities Downgrades: Antero Resources (AR) downgraded to Hold from Buy at Tudor, Pickering, Holt & Co. Apollo Endosurgery (APEN) downgraded to Hold from Buy at Lake Street; tgt lowered to $10 Coterra Energy (CTRA) downgraded to Hold from Buy at Tudor, Pickering, Holt & Co. IMI PLC (IMIAY) downgraded to Hold from Buy at HSBC Securities Legrand SA (LGRDY) downgraded to Neutral from Outperform at Exane BNP Paribas Proximus (BGAOY) downgraded to Reduce from Hold at HSBC Securities Others: American States Water (AWR) initiated with a Sell at UBS; tgt $92 Forge Global Holdings (FRGE) initiated with a Neutral at UBS; tgt $1.75 Rolls Royce PLC (RYCEY) initiated with an Overweight at Barclays RXO, Inc. (RXO) initiated with a Buy at BofA Securities Seven Hills Realty Trust (SEVN) initiated with a Buy at Jones Trading SJW (SJW) initiated with a Buy at UBS West Pharm (WST) initiated with a Neutral at UBS; tgt $250
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