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clusions from, the information presented in rt. errill Lynch Global Researe es and financial methods of the persons who pre
u rading position (long or short} in the securiti Lynch, through business units other than Bo ith, and re
d instruments Lynch entities affiliates may, at any ‘A Merrill Lynch Global Research, may have issued and may in the future issue trad
l clients (as defin imited regulation by the FA a Lynch (Japan), a registered secu by HKSFC (research rep
eek advice rega ents discussed in this report. ‘A Merrill Lynch Global Research, may have issued and may in the future issue trad
ynch | the FCA and the PRA) by RA - details about Lynch (Japan), a registered securities dea investors a
Price Objective Change
rri ly. Except as otherwise stated in securi | Lynch policies prohibit research analysts from acceptin
rance and REITs? 40% 37% 35% 30% 25% 20% 15% 10% 5% 0% Very overweight Slightly overweight Neutral Slightly Very underweight underweight Source: BofA Merrill Lynch Global Research New this year, we hosted expert panels on the evolution of clearing, fixed income market structure, equity market structure, and payments, and how i
Page: HOUSE_OVERSIGHT_014316 →u rading position (long or short} in the securiti Lynch, through business units other than Bo ith, and re
dated Edison ED Chin,Brian A3-7 UNDERPERFORM 74.07 59.00 20,526.00 TripAdvisor TRIP — Schindler,Nat C-3-9 UNDERPERFORM 46.95 41.00 9,071.00 Source: BofA Merrill Lynch Global Research 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
Page: HOUSE_OVERSIGHT_014622 →Estimate Change
Lynch | Lynch (Asia hority of h Mexico, SA de Lynch he DSP Merrill Lynch Limited, Il Lynch (Israel)
uguonw Secoe€suorkxerosreeraxGomaatitgua 0 ae SARA Se oP oe Oo peewee Jan-10 Jan-11. Jan-12. Jan-13 Jan-14. Jan-15 Jan-16— Jan-17 Source: Bloomberg; BofA Merrill Lynch Global Research estimates Source: Bloomberg; BofA Merrill Lynch Global Research estimates In our view, any meaningful reduction in short interest could drive an out
Page: HOUSE_OVERSIGHT_014875 →Earnings Preview
Issuer prior to making an investment decision. | Lynch is under no obligation to ensure that such menti
) Ahead ZG Revenue 239 236 Ww Revenue $944 $933 EPS 0.06 0.05 Ahead EPS ($0.49) ($0.60) Ahead YELP Revenue $201 $198 EPS $0.18 $0.16 Ahead Source: BofA Merrill Lynch Global Research, Bloomberg, as of 4/4/2017 Bankof America Merrill Lynch Internet/e-Commerce | 06 April 2017 HOUSE_OVERSIGHT_014889 --- PAGE BREAK --- Our 2017
Page: HOUSE_OVERSIGHT_014889 →Quantitative Analysis
s is a regular issuer of traded financial instru Lynch, through business units other than Bo th, and rea
*S&P ex. Fins. & Real Estate cash is as a % of total S&P 500 market cap Source: Bloomberg, FactSet, BofA Merrill Lynch US Equity & US Quant Strategy, BofA Merrill Lynch Global Research Repatriation in context: a look back at 2004 The last repatriation holiday in the US was the Homeland Investment Act (HIA) of 2004 (part of the Ame
Page: HOUSE_OVERSIGHT_023075 →Entities connected to both BofA Merrill Lynch Global Research and ILynch

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