STL NO ••• HSBC downgrades VTBR LI, Jefferies upgrades O1BC GR and IMI LN (buy) & initiates AO LN (buy) • JPM initiates AO LN (ow), Kepler upgrades VIS SM and VOS GY/PSG SM/BDL SM (buy) • Nordea downgrades OTE1V FH (sell), UBS downgrades PC IM, CM-CIC downgrades EN FP (sell) • Kepler upgrades ZOT SM &

LN, PRS NO, downgrade FUR NA, SBMO NA, TEC FP • Citi downgrade UMI BB, GAS SM, initiate AMEAS FH (b), WDF IM (b), YOOX IM (n) ••• SocGen downgrade VIS SM, upgrade BP/ LN, NXI FP, DNB upgrade PRS NO ••• BofAML add NOK1V FH, upgrade PNL NA, downgrade UBSN VX ••• HSBC upgrade EBS AV, UCG IM, Natixis dow