Epstein Secrets

MainFirst upgrades DSV DC, PWTN SW, KNIN VX & downgrades MAERSKB DC, SEB downgrades KCR1V FH ••• SNS downgrades KPN NA, Sparebank downgrades TGS NO, Nordea upgrades PRS NO Reporting Pre-Open: ABC, BSX, CHTR, CI, CLX, CMS, CMI, DLPH, EQT, ICE, LVLT, MMC, MHFI, OXY, PM, PPL, RL, SNA, TE, TDC, VMC, WEC, X

lpha Value downgrades SWEDA SS, Berenberg initiates IFX GY (buy) & STM FP (sell), Mediobanca downgrades GAS SM • Berenberg initiates ELIS FP (buy), Macquarie initiates LGEN LN (up), Nordea downgrades KESBV FH & upgrades NDX SS ••• HSBC downgrades SPR GY & DRW3 GY and upgrades HNR1 GY, Investec initiates

des TKAAV/NCSP LN & downgrades AFLT RU ••• Natixis upgrades MTU FP/ALO FP & cuts NOVN SW, Barcap upgrades DANSKE DC ••• Nomura downgrades ERICB SS, Nordea cuts LUPE SS & upgrades OPERA NO/NETB SS EFTA00370758 ••• Kepler upgrades LNZ AV (buy), Swedebank downgrades ERICB SS, Pareto cuts HEX NO (sell)

nitiates YY (buy), KBW upgrades CFR ir Key downgrades FR, Opco upgrades HMSY, BMO initiates NXPI (op) ••• Bofa downgrades SCCO, Raja upgrades OKSB, Macquarie downgrades SUSS ••• Susquehanna initiates XRX (pos), UBS upgrades CIEN (buy), CLSA upgrades AAPL (buy) Europe Key Research: ••• Bofa initiates GMS

st —ve SDF GY ••• Oddo Euro Construction: (top pick HOLN VX, worst pick CRH ID), downgrade LG FP, SGO FP, upgrade NK FP ••• Exane downgrade NRG FP, Nordea downgrade TOP DC, JEFF downgrade BKG LN, SEB downgrade ATEA NO, • Nordea downgrade TOP DC, ASSAB SS, ENEA SS, Helvea upgrade NOVOB DC, Danske downgr

orecasts on FX assumptions (closed -1.20%) • Hitachi lowered net income forecast after missing ests for O3 profit (closed -6.4%) EFTA00396306 • Macquarie cut profit outlook for FI, FX & commodity trading biz (trading • Australia Dec trade deficit A$427mn vs est of A$800m deficit (exports +3% m/m, imp