Equity Research 12 June 2018Americas Morning Research SummarySummary of ChangesRatingPrice TargetEPS FY1 (E)EPS FY2 (E)Rating ChangesOldNewOldNewOldNewOldNewDCP Midstream Partners LPDCPEWUW46.0039.000.960.821.931.92Enable Midstream Partners LPENBLUWEW14.0017.000.910.960.871.00Targa Resources Corp.TRGPOWEW57.0052.00-0.30-0.250.37-0.01USG Corp.USGOWEW41.0044.002.072.072.482.48Target Price ChangesAdobe Systems Inc.ADBEOWOW260.00270.006.566.567.547.54Antero Midstream Partners LPAMOWOW36.0035.001.781.792.192.32Crestwood Equity Partners L.P.CEQPEWEW31.0034.000.09-0.610.50-0.27Enlink Midstream Llc.ENLCEWEW15.0016.000.800.831.160.95Continued on next page This summary is compiled from research reports previously published by Barclays Equity Research. A full list of all publications is available on .Barclays LiveBarclays Capital Inc. and/or one of its affiliates does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision.One or more of the research reports referenced herein has been prepared in whole or in part by equity research analysts based outside the US who are not registered/qualified as research analysts with FINRA. For disclosures associated with each report, please refer to the full report on Barclays .LiveFor analyst certifications and important disclosures including, where applicable, foreign affiliate disclosures, and the date and time when the production of each recommendation was completed and first disseminated, please refer to the full attached or included by hyperlink in this email.document(s) FOR ANALYST CERTIFICATIONS AND IMPORTANT DISCLOSURES, PLEASE CLICK HERE Summary of ChangesRatingPrice TargetEPS FY1 (E)EPS FY2 (E)Enlink Midstream Partners LPENLKEWEW15.0016.000.610.590.710.72Noble Midstream Partners LPNBLXOWOW67.0064.005.634.568.105.94ONEOK Inc.OKEOWOW66.0072.002.442.622.442.61Restoration HardwareRHEWEW120.00160.006.206.836.907.90Summit Midstream Partners LPSMLPUWUW15.0016.000.07-0.280.140.02Western Gas Equity Partners LPWGPEWEW35.0037.002.332.352.572.59Western Gas Partners LPWESEWEW45.0049.002.322.232.752.99Estimate ChangesAntero Midstream GP LPAMGPEWEW23.0023.000.550.510.910.91PfenexPFNXOWOW8.008.00-1.66-1.58-1.23-1.01Smart Global Holdings, Inc.SGHOWOW55.0055.006.096.155.755.84Source & Legend Company ResearchAdobe Systems Inc. (ADBE)American Axle & Mfg. (AXL)Antero Midstream GP LP (AMGP)Antero Midstream Partners LP (AM)CommScope Holding Co., Inc. (COMM)Crestwood Equity Partners L.P. (CEQP)DCP Midstream Partners LP (DCP)Enable Midstream Partners LP (ENBL)Enlink Midstream Llc. (ENLC)Enlink Midstream Partners LP (ENLK)Extended Stay America Inc. (STAY)Noble Midstream Partners LP (NBLX)ONEOK Inc. (OKE)Oracle Corp. (ORCL)Pfenex (PFNX)Restoration Hardware (RH)Rockwell Automation Inc. (ROK)Smart Global Holdings, Inc. (SGH)Summit Midstream Partners LP (SMLP)Targa Resources Corp. (TRGP)USG Corp. (USG)Western Gas Equity Partners LP (WGP)Western Gas Partners LP (WES) Industry ResearchAmericas AgribusinessAmericas Integrated OilCanadian Financial ServicesEuropean Integrated Oil & RefiningEuropean Oil & Gas: E&PEuropean Oil Services & DrillingU.S. Brokers, Asset Managers & ExchangesU.S. Diversified Natural GasU.S. Gaming & LodgingU.S. Independent RefinersU.S. IT HardwareU.S. MLPsU.S. REITsU.S. SemiconductorsU.S. SoftwareEquity StrategyDaily Market WrapUS Equity StrategyUS Equity StrategyUS Equity StrategyUS Equity StrategyUS Equity Strategy Publications SummaryConsumerAmericas Agribusiness: BBQ - Ben's Beef Quotes: June 2018Americas AgribusinessBenjamin M. Theurer+52 55 5241 3322benjamin.theurer@barclays.comBBMX, Mexico11 June 2018In our June edition of "BBQ - Ben's Beef Quotes", we focus on ongoing trade tensions between U.S and China, impacting Brazil beyond adverse market conditions. As in the past, we highlight important news, major trends in agri-product pricing, demand and trade data. We include eggs, poultry, pork, some lamb and veal - it's not all beef!NewsU.S. pork exports to Mexico, beyond a 350,000 tons quota, will be subject to tariffs. As a response to higher steel tariffs, Mexico will increase pork tariffs to 20% from 10%.Trade woes continue; Chinese importers of Brazilian chicken will face a temporary anti-dumping deposit charge. China will impose a temporary anti-dumping measure on Brazilian chicken imports of 18.8% - 38.4% of the value of the shipment.Prices & FeedDespite trade tensions and pressures, we continue to see fairly healthy industry and market trends. However, we remain cautious of increased volatility ahead.Production performance improved during April. Chicken production rose, while turkey supply was relatively stable. Furthermore, beef and pork production increased at similar levels given higher y/y slaughter growth rates fo