FirstLook

Research evidence excerpt

FirstLook

June 26, 2026

First Look

Real Estate Evercore ISI Focus

Fund Flows Report Page 8

Europe Sales Survey

Steve Sakwa

Europe Sales Survey Holds Steady Following Recent

Softness Page 3

Industrial

Oscar Sloterbeck

Monthly Food Inventory Tracker: Seasonality Trends Better

as Y/Y Declines Moderate Page 8

Americold Realty Trust (COLD)

Michael Griffin

"Thawing" Fundamentals, Attractive Valuation: Upgrade to

O/P, PT to $18 Page 3

IT Hardware & Networking

Michael Griffin Outperform

IT Hardware – Lateral Reads from Lenovo Investor Day

Global Chemicals Amit Daryanani

DOW/LYB: Follow the Brent Crumbs Page 4

Eric Boyes Company Updates

Alnylam Pharmaceuticals, Inc (ALNY)

Price Target Changes ALN-6400 Roundtable Frames Potential Non-TTR

Krystal Biotech, Inc (KRYS) Blockbuster Opportunity Page 9

$1.6B OXERVATE 2025 SALES - PT up to $395 Page 4 Cory Kasimov Outperform

Gavin Clark-Gartner Outperform

PROCEPT BioRobotics Corp. (PRCT)

Applied Materials, Inc. (AMAT) Aquablation CapEx survey + Investor Feedback + Webinar

Replay Page 10DRAM & Adv Pkg Master Class Takes Page 5

Vijay Kumar Outperform

Mark Lipacis Outperform

Macro ResearchON Semiconductor Corp (ON)

ON + Synaptics Acquisition: Power Meets Connected Economics & Central Banking Strategy

Compute Page 5 FED’S WILLIAMS LEANS AGAINST A NEAR-TERM HIKE,

Mark Lipacis Outperform MAY REINFORCE JULY HIKE FADE Page 11

Krishna Guha

FedEx Freight Holding Company, Inc. (FDXF)

Welcome to the Show Page 6 Political Analysis

Jonathan Chappell Outperform Immigration Enforcement and Border Activity Data Shows

Little Change from Earlier this Year Page 11

Sarah Bianchi

Industry Updates

Power & Utilities Capital Markets Chronicle

Electri-Friday: Large Loads, Nuclear Loans and VPPsPage 6 Morning Thought Page 12

Nicholas Amicucci Stan Shipley