ti reinstates PBF (neut), JPM cuts NTRS, Rafferty cuts PNC, MS downgrades SNDK, BB&T cuts WNC Europe Key Research: EFTA00387194 •••• GS downgrade MTELEKOM HB, upgrade KGH PW, Nordea downgrade TTM1V FH ••• UBS remove VOD LN from global top 40 pick, SUBC NO added to least pref, Espirito u/g BT/A LN, - JPM