Epstein Secrets

KESBV FH & upgrades NDX SS ••• HSBC downgrades SPR GY & DRW3 GY and upgrades HNR1 GY, Investec initiates GBG LN (buy), SocGen upgrades LWB PW ••• Swedbank downgrades NOVOB DC & ICA SS and upgrades HPOLB SS, GS upgrades ADS GY, KBC upgrades COMB BB EFTA00329453 • Handelsbanken upgrades BRG NO, SEB do

M (buy), Citi downgrades G IM (sell), Barcap downgrades CCH LN • Alpha 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 do

UR PW, JPM downgrades EUR PW ▪ KBC upgrades EURN BB (buy), Mediobanca resumes CASS IM, Oddo upgrades RMS FP (buy), Oriel initiates DIA LN (buy) • Swedbank upgrades SNI NO (buy) & downgrades HPOL.B SS, Numis downgrades RWS LN, HSBC upgrades ERF FP • Raja downgrades SGO FP, UBS downgrades JMT PL Reporti

• GS downgrades FLU AV and KNIN SW (sell), Jefferies downgrades AGK LN, JPM downgrades EUR PW, JPM downgrades EUR PW ▪ KBC upgrades EURN BB (buy), Mediobanca resumes CASS IM, Oddo upgrades RMS FP (buy), Oriel initiates DIA LN (buy) • Swedbank upgrades SNI NO (buy) & downgrades HPOL.B SS, Numis downgrades

OLVB SS, CS upgrade MND SJ, downgrade SAP SJ, UPM1V FH • DB downgrade DANSKE DC, upgrade DMGT LN, Exane upgrade TSCO LN, Chev downgrade TLSN NO ••• Swedbank downgrade GETIB SS, NOVOB DC, upgrade RATOA SS, Mediobanca upgrade SWEDA SS • Natixis downgrade NOVOB DC, upgrade NESN VX, Bere upgrade ROS AV, SEB

DB downgrade DANSKE DC, upgrade DMGT LN, Exane upgrade TSCO LN, Chev downgrade TLSN NO ••• Swedbank downgrade GETIB SS, NOVOB DC, upgrade RATOA SS, Mediobanca upgrade SWEDA SS • Natixis downgrade NOVOB DC, upgrade NESN VX, Bere upgrade ROS AV, SEB downgrade CARLB DC ••• Nordea downgrade CRA1V FH, downgrad