Hold: Disappointing near-term outlook from slower than-expected TDDI penetration Introducing strategic investor to KSS for business expansion and M&A Here comes the EMU tender Asia Economics Comment Real opportunity – Go long BRL (vs. ILS) CEEMEA & Latam Daybook Unsustainable valuation gap, clear investment opportunities To enhance its leading position in CQ Upgrade to Buy: Swing (back) into high gear Needs to ease worries on profit growth, M&As