> Energy, Materials & Industrials Q Kingspan — Priyal Mulji, BUY, close €38.5, €40 tgt, 4% upside ■ Kingspan is a global insulation producer, focusing on high-performance panels and boards. • We expect robu

YST CERTIFICATIONS ARE LOCATED IN APPENDIX 1. MICA(P) 054/04/2013. Date 11 December 2013 Strategy Update John-Paul Smith Strate ist (+ Priyal Mulji Strategist (+ EFTA01466397 11 December 2013 GEM Equity Strategy Outlook 2014 Table Of Contents Summary 3 Negative year in prospect but