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S&P ownership over 8% with the ability of that offered nominal return to adjust for inflation variations over the long term. Date 23 August 2013 David Bianco Strategist Ju Wang it S&P 500 Key Forecasts Price 1660 Next 5%+ move Uncertain 2013E Year-end Target EPS Target P/E Current P/E DPS Priy
relating to any financial product referred to in this report and consider the PDS before making any decision about whether to acquire the product. Deutsche Bank AG Johannesburg is incorporated in the Federal Republic of Germany (Branch Register Number in South Africa: 1998/003298/10). Additional information relative to sec
fan Schneider Mikihiro Matsuoka Michael Spencer Taimur Baig Gustavo Canonero Strategy Dominic Konstam Francis Yared Oleg Melentyev Jim Reid David Bianco Sebastian Raedler Alan Ruskin George Saravelos Michael Hsueh Binky Chadha Peter Garber Global Head of Research Global Head, Macro Research T
g: Korea: Distributed Distributed in by Deutsche Bank AG, Hong Kong Branch. by Deutsche South Securities Africa: Korea Co. South Africa: Deutsche Bank AG Johannesburg is incorporated in the Federal Republic of Germany (Branch Register Number 1998/003298/10). Singapore: by Deutsche Bank AG, Singapore Branch or D
ion, the undersigned lead analyst(s) has not and will not receive any compensation for providing a specific recommendation or view in this report. David Bianco/Ju Wang/Winnie Nip Equity rating key Buy: Based on a current 12- month view of total share-holder return (TSR = percentage change in share price
ong: Distributed by Deutsche Bank AG, Hong Kong Branch. Korea: Distributed in by Deutsche South Securities Korea Africa: Co. South Africa: Deutsche Bank AG Johannesburg is incorporated in the Federal Republic of Germany (Branch Register Number 1998/003298/10). Singapore: by Deutsche Bank AG, Singapore Branch or D
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Deutsche Bank
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