tor, Kepler reits sell PSON LN • Exane upgrades SDR LN, Commerzbank upgrades DEX GY and downgrades G1A GY, CS reits buy TSCO LN • Nomura downgrades HEIA NA, MS assumes coverage: EDPR PL (ow), AMS SM (ow), ASML NA (ow) • ABG downgrades SUBC NO, Akros upgrades IPG IM, Berenberg intiiates FBD ID (buy) • D

Barclays downgrades FUM1V FH, VER AV, SPM IM & upgrades TEC FP • BofAML: Consumer Staples & Luxury (most pref: SAB LN, DGE LN, CFR VX / Least pref HEIA NA, CPR IM, ULVR LN) ▪ DB downgrades PC IM, reit underperform NOK1V FH, CS downgrade Turkish Banks, Citi downgrade LONN VX ••• Chevreux downgrade GEO