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This site provides original, fundamental research and analysis of industries, companies, and the economy for Wells Fargo Securities, LLC's institutional sales clients and retail brokerage clients.

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© Wells Fargo & Company. All rights reserved. Member FDIC Securities and Insurance Products not Insured by FDIC or any Federal Government Agency May lose value Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate Wells Fargo Securities, LLC ("WFS") is a U.S. broker-dealer registered with the U.S. Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation. Wells Fargo Securities International Limited is a U.K. incorporated investment firm authorized and regulated by the Financial Conduct Authority.