Results for “Bank of America Merrill Lynch”

…well for outperformance Cheapen long XLF upside to near 8y lows via selling upside on structurally challenged European banks & relatively more bearish outlook for US rates vs EU Still depressed equity-bond correlation (US 5Y bonds vs. SPX in the 37th%-ile since Jun-88) cheapens...

…risks proving worse than expected, continued Strip competition, and continuing near-term softness in the Macau market. Bankof America 16 Top 10 US Ideas Quarterly | 03 January 2017 Merrill Lynch HOUSE_OVERSIGHT_014637

Chart 3: EM debt and equity have been hit Chart 4: While Banks versus Staples has gone ballistic 950 r 40 0.43 ——MSCI EM _ 900 SSW eG TRS EN LSI SEE ERG ; , ———S&P 500 Banks relative to Food & Bev 0.39 (RHS) 850 0.37 0.35 800 0.33 750 0.31 700 0.29 0.27 650 0.25 Oo Oo Wo Oo Oo Ob...

…orporate structure that limits shareholder control, a limited float, and share lock-ups that could weigh on the stock. Bankof America Merrill Lynch 2016 Future of Financials Conference | 17 November 2016 73 HOUSE_OVERSIGHT_014387

…4 January 2017 Homebuilders and Building Products: State of the union 12 December 2016 Financials / Real Estate: 2017 Banks Year Ahead: T-R-U-M-P: Find out what it means for “E” (20% potential upside) 10 January 2017 US Banks Chart of the Week: Muni exposure will mute benefit...

… are an inability to return capital to shareholders in a timely fashion or overpaying for an acquisition target. IBERIABANK Corp (IBKC) We use a three-factor valuation framework (P/TBV, P/E, DCF) to arrive at our $85 price objective and assign a 1.6x multiple to our 2Q17E TBY, i...

Research Analysts US Banks Erika Najarian Research Analyst MLPF&S +1 646 855 1584 [email protected] Ebrahim H. Poonawala Research Analyst MLPF&S +1 646 743 0490 [email protected] Michael Liu Research Analyst MLPF&S +1 646 855 3874 [email protected] Brandon B...

…on the April call, particularly given the velocity of new feature launches and potential investments in video content. Bankof America Merrill Lynch Internet/e-Commerce | 06 April2017 = 21 HOUSE_OVERSIGHT_014907

… will be, directly or indirectly, related to the specific recommendations or view expressed in this research report. ; Bankof America 36 European Equity Strategy | 01 December 2016 Merrill Lynch HOUSE_OVERSIGHT_014495

…r has a lot of leverage, there would likely be a pass through to customers in determining their allowed rate increase. Bankof America Merrill Lynch Equity Strategy Focus Point | 29 January 2017. 17 HOUSE_OVERSIGHT_023085

…val of the net interest expense deduction from taxable income by multiplying the net interest expense by the tax rate. Bankof America <> Merrill Lynch Equity Strategy Focus Point | 29 January 2017. 25 HOUSE_OVERSIGHT_023093

… heavy volatility in the past, based on margin trends, and this volatility could increase due to economic uncertainty. Bankrate (RATE) Our $13 price objective is based on 9x our 2018E EV/EBITDA, a slight discount to the online lead-gen and marketplace peer group average of 11x....

… our DCF analysis by 20%. Near term, we view C's current market multiple as overly discounted, but expect money center banks will likely continue to trade at a discount to the regionals. Our 1x TBV multiple represents a 0.3x discount to our median multiple for our universe. Our...

…pen and closed trades see the Global Liquid Markets Weekly. 6 Global Rates, FX & EM 2017 Year Ahead | 16 November 2016 Bankof America Merrill Lynch HOUSE_OVERSIGHT_014736

this report or its contents. Bankof America 8 Japan Macro Watch | 14 November 2016 Merrill Lynch HOUSE_OVERSIGHT_014431