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                            - Polyus: Relative safe haven (upgraded to BUY) by Wood and Company
 
                            - Emerging Europe Refining: Time to wash your hands of refining? (Hellenic Petroleum, Lotos, MOL, Motor Oil Hellas, NIS, OMV, OMV Petrom, PKN Orlen, Tupras) by Wood and Company
 
                            - Coca-Cola HBC: Looking beyond 2020 (upgraded to BUY) by Wood and Company
 
                            - Jumbo: Self-fulfilling prophecy (upgraded to BUY) by Wood and Company
 
                            - Turkish Banks: Let’s talk Turkey (Garanti and Yapi Kredi stay BUY, Isbank upgraded to BUY and Akbank upgraded to HOLD) by Wood and Company
 
                            - Russian Food Retail: Not relative winners, just winners (X5 stays BUY; Magnit's GDRs and locals upgraded to BUY) by Wood and Company
 
                            - CEZ: How I Learned to Stop Worrying and Love the Bomb (upgraded to BUY) by Wood and Company
 
                            - Rostelecom: The new Rostelecom - convergent & digital (upgraded to BUY) by Wood and Company
 
                            - BRD-GSG: Capital accumulation (upgraded to BUY) by Wood and Company
 
                            - Eurocash: Frozen 3.0 (upgraded to HOLD) by Wood and Company
 
                            - Titan Cement: Too cheap to ignore (upgraded to BUY) by Wood and Company
 
                            - Georgian Banks: Relying on a smooth ride (BGEO upgraded to HOLD, TBC stays HOLD) by Wood and Company
 
                            - Wizz Air: The best-positioned carrier in Europe (upgraded to BUY) by Wood and Company
 
                            - Bank of Cyprus: Deeply undervalued (upgraded to BUY) by Wood and Company
 
                            - ANY Security Printing Company: Presses to restart, followed by dividends and growth (BUY - transfer of coverage) by Wood and Company
 
                            - AMENDED – Turkish Automotive: Anyone not surprised? (Tofas, Ford Otosan and Dogus Otomotiv) by Wood and Company
 
                            - Turkish Banks: Time to pardon Turkey (Akbank upgraded to BUY; Garanti, Isbank and Yapi Kredi stay BUY) by Wood and Company
 
                            - Greek Banks: The last mile (Alpha upgraded to BUY, Eurobank and NBG stay BUY, Piraeus stays HOLD) by Wood and Company
 
                            - Zagreb Stock Exchange: Successful ETF market rollout (upgraded to HOLD) by Wood and Company
 
                            - HeadHunter: Emerging pricing power (upgraded to BUY) by Wood and Company
 
                            - Polish Banks: Hopefully, the twilight of the saga (PKO BP stays BUY, mBank and Bank Millennium upgraded to BUY, Santander BP downgraded to HOLD) by Wood and Company
 
                            - EMEA Refining: A great or Greta future? (MOH and PKN stay BUY, LTS and ELPE stay HOLD, TUPRS upgraded to HOLD, MOL downgraded to HOLD) by Wood and Company
 
                            - Raiffeisen Bank International: Riding the recovery (upgraded to BUY) by Wood and Company
 
                            - OTP Bank: High growth, high returns (upgraded to BUY) by Wood and Company
 
                            - Dom Development: Better late than never (upgraded to BUY) by Wood and Company
 
                    
     
    
        
            
                        - Russian Oil & Gas: Risk/reward less attractive (Lukoil and Tatneft downgraded to HOLD, Rosneft upgraded to BUY) by Wood and Company
 
                        - Greek Banks: Groundhog day (Eurobank and NBG stay BUY, Alpha downgraded to HOLD, Piraeus stays HOLD) by Wood and Company
 
                        - Athens Exchange Group: Risk-reward finally appealing (upgraded to BUY) by Wood and Company
 
                        - Kety: A good stock for bad times (upgraded to BUY) by Wood and Company
 
                        - Coca-Cola Icecek: Turning negatives into positives (upgraded to BUY) by Wood and Company
 
                        - Polish Banks: Nothing will be the same (PKO BP, Bank Pekao, Santander BP, mBank, ING BSK, Bank Handlowy, Bank Millennium, Alior Bank) by Wood and Company
 
                        - OMV Petrom: Honey, I’m Tougher than the Rest (upgraded to BUY) by Wood and Company
 
                        - CEE Real Estate: Turning constructive (Atrium, CA Immo, Dom Development, Echo Investment, Etalon, Globalworth, Graphisoft, GTC, Immofinanz, LSR, NEPI Rockcastle, S Immo, Warimpex) by Wood and Company
 
                        - Ciech: Salt and pepper (upgraded to BUY) by Wood and Company
 
                        - Warsaw Stock Exchange: Volumes are strong, IPOs are coming (upgraded to BUY) by Wood and Company
 
                        - Polish Financials: Will they finally take the plunge? (PZU and Bank Pekao stay BUY, Alior Bank upgraded to BUY) by Wood and Company
 
                        - Aygaz: Still complicated, but worth it (upgraded to BUY) by Wood and Company
 
                        - Cyfrowy Polsat: Network monetisation ahead (upgraded to BUY) by Wood and Company
 
                        - Tatneft: Opportunity in crisis (upgraded to BUY) by Wood and Company
 
                        - Petkim: TRY to get your FX of chemicals (upgraded to BUY) by Wood and Company
 
                        - EME Stock Exchanges: Robinhoods, “new” economy, and index wars (MOEX, GPW, ASE, BVB, ZSE) by Wood and Company
 
                        - Romgaz: More spend, less dividend (upgraded to HOLD) by Wood and Company
 
                        - Magyar Telekom: High quality for a low price (upgraded to BUY) by Wood and Company
 
                        - Vestel Beyaz: Shifting into overdrive (upgraded to BUY) by Wood and Company
 
                        - GTC: Gonna be a brighter day (upgraded to BUY) by Wood and Company
 
                        - Turkish Non-Financials: Estimates revisions ahead of 1Q21E results (Aselsan upgraded to BUY, Coca Cola Icecek, Tekfen Holding and Ulker stay BUY) by Wood and Company
 
                        - Philip Morris CR: Stable dividends outweigh the risks (upgraded to HOLD) by Wood and Company
 
                        - Wizz Air: Do you want to go to the seaside? (upgraded to BUY) by Wood and Company
 
                        - Ceska zbrojovka Group: Bang, bang (upgraded to BUY) by Wood and Company
 
                        - Romania Oil and Gas: There’s life in the old fossils yet (Romgaz upgraded to BUY, OMV Petrom stays BUY) by Wood and Company