Results for “Merrill Lynch Capital Markets Espana”

… n 0 88 00% Real Estate SX86P 1.9 n 0 1.9 00% Technology SX8P 3.8 n 0 3.8 00% Telecomm SXKP 41 n 0 44 00% Source: BofA Merrill Lynch Global Research, Bloomberg Reflation rotation - tactically got very stretched Over the last two weeks we cut our weightings in Basic Resources a...

…d outflow in 3.5 yrs, record EM debt outflow. Regards, Amanda Amanda Ens Director | Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park | 5th Floor | New York, NY 10036 Phone: Mobile: po This message, and any att...

…sification from Amore simplified structure and growth improving margin fixed income flows increased float Source: BofA Merrill Lynch Global Research « AB has seen and expects to continue to see above average organic growth (ex 3Q which was weighed down by lumpy institutional ou...

…visibility on reduced tax complexity attractive credit return the business model the distribution outlook Source: BofA Merrill Lynch Global Research ¢ — If comprehensive tax reform includes an elimination of carried interest tax, potentially moving to an ordinary income rate, i...

…eads Hans Mikkelsen Credit Buy basket of Euro AT1s Barnaby Martin Long Xover short Main loannis Angelakis Source: BofA Merrill Lynch Global Research. For the full methodology and reference pricing please see Appendices. New trades in bold. Themes Long Cyclicality « Long Asia E...

….13 $0.21 $0.88 $1.07 BofA ML vs Street In-Line In-Line Above Above Street EBITDA margins 25% 35% 35% 37% Source: BofA Merrill Lynch Global Research estimates, Bloomberg, as of 4/4/2017 BankofAmerica <2 ; ; Merrill Lynch Internet/e-Commerce | 06 April2017 27 HOUSE_OVERSIGHT_01...

… Ax Free Cash Flow Yield* -13.2% 81% 3.8% -0.3% 3.17% * For full definitions of ‘Qnethod™ measures, see page 11. BofA Merrill Lynch does and seeks to do business with issuers covered in its research reports. As a result, investors should be aware that the firm may have a confli...

Regards, Amanda Amanda Ens Director | Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park | 5th Floor | New York, NY 10036 Phone: Mobil: iii From: Ens, Amanda Sent: Tuesday, November 22, 2016 2:15 PM To: ‘jeffre...

…AML est. $0.25 $0.29 $1.13 $1.55 Street $0.24 $0.28 $1.10 $1.37 BofAML vs. Street Above Above Above Above Source: BofA Merrill Lynch Global Research estimates, Bloomberg, as of 4/4/2017 Our PO is $49, based on 32x our 2018E P/E (vs. high growth internet at 31x). We believe GRUB...

…Petro Rabigh Chemicals Aramco: 37.5%; Sumitomo: 37.5% 25.0% 0.0 0.0 Total 24.3 28.6 Source: Bloomberg, Bank of America Merrill Lynch Global Research. PIF = Public Investment Fund. GOSI = General Organization for Social Insurance. PPA = Public Pension Agency. Based on stock price...

… contribution Increased float and earnings the distribution from RA and GMS _ reduced complexity segments Source: BofA Merrill Lynch Global Research « — If comprehensive tax reform includes an elimination of carried interest tax, potentially moving to an ordinary income rate, i...

…lic institutions in sectors that could be privatized 124.8 33.3 5.2 Source: SAMA, Ministry of Finance, Bank of America Merrill Lynch Global Research. Data as of 2015 budget. Sales of PIF assets could help replenish fiscal reserves but not Fx reserves Secondary sales of domestic...

…AML est. $0.49 $0.48 $2.03 $2.22 Street $0.48 $0.47 $2.01 $2.21 BofAML vs. Street Above Above Above Above Source: BofA Merrill Lynch Global Research estimates, Bloomberg, as of 4/4/2017 Our $38 price objective is based on 17x our 2018E non-GAAP EPS. O ur 17x P/E multiple is sli...

…4.53 Wayfair W 40.21 Yahoo! YHOO 46.38 Yelp YELP 33.22 Zillow A ZG 33.49 Zillow C Z 33.47 ZYNGA ZNGA 2.18 Source: BofA Merrill Lynch Global Research, Prices as of 5 April 2017 52 __Internet/e-Commerce | 06 April 2017 Bankof America <2 Merrill Lynch HOUSE_OVERSIGHT_014938

…. But the prospect of any new taxes has long drawn skepticism from Republicans. Amanda Ens Director Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park, 5th Floor, New York, NY 10036 HOUSE_OVERSIGHT_014858