Epstein Secrets

dings (FRSH) launches IPO (anticipated pricing May 1) US Key Research: • Barcap downgrades QEP, Brean initiates FSLR/SPWR (buy) & SUNE (hold) ••• Cantor upgrades NFLX (buy), Citi upgrades SRPT, CS upgrades FB ••• GS initiates HIVEJTVVOU (buy) & upgrades SMLP/NCLH (buy), Imperial initiates VRNS (op)

TVVOU (buy) & upgrades SMLP/NCLH (buy), Imperial initiates VRNS (op) ••• Jefferies initiates AKRX/ANAC/PRGO/XNPT (buy), JMP initiates HIVE (mp) ••• Jefferies assumes NKTR/PCRX/SHPG/SLXP/TEVANRX (buy) & AGN/SGNT/SUPN (hold) ••• KBW upgrades LION, Raja initiates ERIC (mp), Roth initiates GSVC (buy) ••• Sti

rades NFLX (buy), Citi upgrades SRPT, CS upgrades FB ••• GS initiates HIVEJTVVOU (buy) & upgrades SMLP/NCLH (buy), Imperial initiates VRNS (op) ••• Jefferies initiates AKRX/ANAC/PRGO/XNPT (buy), JMP initiates HIVE (mp) ••• Jefferies assumes NKTR/PCRX/SHPG/SLXP/TEVANRX (buy) & AGN/SGNT/SUPN (hold) ••• KBW

n up over the last 2 weeks. Secondaries (announced/priced): MDW, ROSG IPO's: N/A Key Research: Stifel assumes RTN (buy) & GD/LMT/NOC/LLL (holds), Cantor initiates ZMH/SYK (holds) Key Research: Piper downgrades VCLK & initiates TITN (ow), Canaccord initiates MM (buy), Jefferies downgrades PEG Key R

GD/LMT/NOC/LLL (holds), Cantor initiates ZMH/SYK (holds) Key Research: Piper downgrades VCLK & initiates TITN (ow), Canaccord initiates MM (buy), Jefferies downgrades PEG Key Research: DB upgrades AZO (buy), JPM downgrades DOW, UBS downgrades EW, GS upgrades JPM & cuts MS Key Research: GS upgrades LPS

des UNA NA Key Research: Barcap downgrades RDSA LN & upgrades BBT, Think initiates IART/TH0R/REGN (buys) & HTWR (sell), MKM cuts MRK Key Research: Cantor initiates CUBE (buy) & SSS (hold) & EXR/PSA (sells), UBS downgrades ALV (sell), RBC cuts KMX/IP Key Research: DB downgrades RBS LN/KFRC & reinstate

l), RBC cuts KMX/IP Key Research: DB downgrades RBS LN/KFRC & reinstates CA FP (hold), Baird upgrades TTEK/PEET, JMP downgrades BRCD Key Research: Jefferies downgrades RIMM & upgrades Sands China (buy), MS cuts RSH & upgrades NOV, Wells downgrades EW Key Research: JPM initiates FDO (ow) & DG (neut) & do

GR/SHP LN/GSK LN/PGHN SW, Barcap downgrades ALV GRIHNR1 GR/MUV2 GR/PHNX LN & upgrades UNI IM • Berenberg initiates REE SM (buy) and ENG SM (hold), Cantor initiates ADN LN/ASHM LN/SDR LN/ARP LN (buy) and HGG LN (hold) ▪ Commerzbank upgrades HENS GR/OR FP (buy), CS downgrades MPI LN/EXPN LN/MPI FP & up

downgrades M, Baird downgrades VZ, CS upgrades LHCG, ▪ Drexel Hamilton initiates LDOS (hold), Guggenheim initiates FITB/KEY (buy) and HBAN (neut) ▪ Jefferies initiates NDRM (buy) & downgrades NBR/Oll/SLB/CBST, KBW downgrades SEIC • JPM initiates ALL/AON/MMC (ow) and ACE/PGR/TRV (neut) and CB/UW (uw) & dow

SGC LN, upgrade NEX LN ••• SocGen upgrade BBVA SM, Medio initiate MSK LN (op), Beren downgrade DIA IM, u/g ETL FP • RBC downgrade STAN LN, SGE LN, Cantor downgrade IHG LN, SBRY LNA2A IM, u/g ICL IT, KCO GY • Numis downgrade RTN LN, Exane downgrade DELB BB, Akros downgrade MED IM, LTO IM EFTA00390787

••• Mizuho downgrades OFIX, Wells initiates INFI (op) & upgrades AWK, Brean cuts MFB ••• DB initiates KBR/FLR/CBI/PWR/MTZ (buys) & MDR/JEC (holds), Jefferies cuts BMC ••• Opco upgrades VSAT, GS downgrades TSLA, Citi downgrades TUMI/BLK Europe Key Research: ••• Citi upgrade KCO GY, ICL TI, downgrade KOMB