Epstein Secrets

uest •Prices are current as of the end of the previous trading session unless otherwise indicated and are sourced from local exchanges via Reuters, Bloomberg and other vendors . Other information is sourced from Deutsche Bank, subject companies, and other sources. For disclosures pertaining to recommendat

f EMEA Equity Research Andreas Neubauer Head of Research - Germany International Production Locations Dave Clark Head of APAC Equity Research Steve Pollard Head of Americas Research Global Head of Equity Research Spyros Mesomeris Global Head of Quantitative and QIS Research Pam Finelli Global Head

250bn u/weight 02 05 Source: Deutsche Bank, Bloomberg Finance LP 08 11 Swiss Franc Is Last "Safe Hav

auer Regional Head Guy Ashton Chief Operating Officer EFTA01464475 Research Richard Smith Associate Director Equity Research North America Steve Pollard Regional Head Global Disclaimer The information and opinions in this report were prepared by Deutsche Bank AG or one of its affiliates (collectiv

s) 200 100% 150 100 50 0 20% 40% 60% 80% -100% -80% -60% -40% -20% 0% 75 78 81 84 87 90 93 96 99 02 05 08 11 Source: Deutsche Bank, Bloomberg The significance of the USD/JPY turn higher should not be understated. It is perhaps the only currency pair that has captured all the major macro

ermany Andreas Neubauer Regional Head Guy Ashton Chief Operating Officer Research Richard Smith Associate Director Equity Research Americas Steve Pollard Regional Head GRCM2013PROD028390 EFTA01464569

S Equity Strategy Baskets Tech's Enduring Eight Total Shareholder Return Stimulator Dividend Dark Horses China Cyclicals Source: Deutsche Bank Bloomberg Ticker DBUSTECH DBUSBBD1 DBUSDFCF DBUSCNCY Deutsche Bank Securities Inc. Deutsche Bank does and seeks to do business with companies covered in

auer Regional Head Guy Ashton Chief Operating Officer EFTA01464585 Research Richard Smith Associate Director Equity Research North America Steve Pollard Regional Head Global Disclaimer The information and opinions in this report were prepared by Deutsche Bank AG or one of its affiliates (collectiv

argin 18E Dec 14 Mar 15 NASDAQ 100 (Rebased) Fiscal year end 31-Mar Financial Summary DB EPS (CNY) Reported EPS (CNY) DPS (CNY) BVPS (CNY) Bloomberg: BABA US USD 80.00 USD 104.00 USD 79.54 - 119.15 EURm 167,983 USDm 190,720 Weighted average shares (m) Average market cap (CNYm) Enterprise v

Marcel Cassard Global Head FICC Research & Global Macro Economics Ralf Hoffmann Regional Head Deutsche Bank Research, Germany Richard Smith and Steve Pollard EFTA01473330 Co-Global Heads Equity Research Andreas Neubauer Regional Head Equity Research, Germany Steve Pollard Regional Head Americas R

h Rating Hold North America United States Industrials Oil & Gas Exploration & Production Company Pioneer Natural Resources Reuters PXD.N Bloomberg PXD UN Exchange Ticker NYS PXD Laying the Foundation Looking to set the stage into a 2H acceleration With arguably amongst the largest core po

Marce assay Global Head FICC Research & Global Macro Economics Ralf Hoffmann Regional Head Deutsche Bank Research, Germany Richard Smith and Steve Pollard EFTA01473353 Co-Global Heads Equity Research Andreas Neubauer Regional Head Equity Research, Germany Steve Pollard Regional Head Americas R

Deutsche Bank Markets Research Rating Buy North America United States Reuters Health Care Biotechnology RTRX.OQ Bloomberg RTRX US Exchange Ticker NMS RTRX Company Retrophin Agrees to sell PRV for $245M, new TP of $52 Retrophin agrees to sell its PRV to SNY for $

Marcel Cassard Global Head FICC Research & Global Macro Economics Ralf Hoffmann Regional Head Deutsche Bank Research, Germany Richard Smith and Steve Pollard EFTA01473409 Co-Global Heads Equity Research Andreas Neubauer Regional Head Equity Research, Germany Steve Pollard Regional Head Americas R

est *Prices are current as of the end of the previous trading session unless otherwise indicated and are sourced from local exchanges via Reuters, Bloomberg and other vendors . Other information is sourced from Deutsche Bank, subject companies, and other sources. For disclosures pertaining to recommend

(81) 3 5156 6770 Marcel Cassard Global Head FICC Research & Global Macro Economics Ralf Hoffmann Regional Head Deutsche Bank Research, Germany Steve Pollard Global Head EFTA01476252 Equity Research Andreas Neubauer Regional Head Equity Research, Germany GRCM2015PROD034979 EFTA01476253

est *Prices are current as of the end of the previous trading session unless otherwise indicated and are sourced from local exchanges via Reuters, Bloomberg and other vendors . Other information is sourced from Deutsche Bank, subject companies, and other sources. For disclosures pertaining to recommend

(81) 3 5156 6770 Marcel Cassard Global Head FICC Research & Global Macro Economics Ralf Hoffmann Regional Head Deutsche Bank Research, Germany Steve Pollard Global Head EFTA01476553 Equity Research Andreas Neubauer Regional Head Equity Research, Germany GRCM2015PROD034913 EFTA01476554