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rri ly. Except as otherwise stated in securi | Lynch policies prohibit research analysts from acceptin
of Betterment), Randy Sternke (Vice President, Business Development at Alkanza), and Vaughn Bowman (Director, Managed Solutions Channel Management at BofAML). Each firm discussed the unique aspects of their individual business models and where they see the robo industry headed in the future. ¢ Broverman
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en considered and distributed in Japan by Merrill Lynch (Japan), a registered securities dealer under the
. That should be the edge you have at looking across the range of asset classes compared to single asset class investors. We would like to thank our BofAML colleagues who have supported our product this year by providing many such ideas and trust they will continue to do so through 2017. Bankof America
Page: HOUSE_OVERSIGHT_014434 →u rading position (long or short} in the securiti Lynch, through business units other than Bo ith, and re
calendar-specific events noted for most stocks. We constructed our list by canvassing BofAML Fundamental Equity Research analysts in order to find 10 BofAML-covered stocks which we think will significantly outperform or underperform peers during the quarter. We considered only Buy-rated names for outperfo
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Lynch | Lynch (Asia hority of h Mexico, SA de Lynch he DSP Merrill Lynch Limited, Il Lynch (Israel)
nauthorized redistribution of this report is prohibited. This report is intended for [email protected] Hess Corp. Inflection point: adding Hess to BofAML’s US 1 ‘best ideas’ list Reiterate Rating: BUY | PO: 80.00 USD | Price: 49.97 USD Short interest ratio: catalyst for recovery Over the past six m
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s is a regular issuer of traded financial instru Lynch, through business units other than Bo th, and rea
the corporate tax rate 4 Repatriation 6 Border adjustment tax analysis 12 Closing loopholes 15 No interest tax shield 7 Tax reform screens 19 Related BofAML research on US tax reform 22 Methodology 24 2 Equity Strategy Focus Point | 29 January 2017 (pertain HOUSE_OVERSIGHT_023070 --- PAGE BREAK --- The
Page: HOUSE_OVERSIGHT_023070 →Entities connected to both BofAML and ILynch

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