Epstein Secrets

nda" Date: June 14, 2018 at 9:04:20 AM =DT To: "Rich Kahn Subject:=/b> BAML Insight: NASPERS discount

s behind th=m. Scope to drive margins from low-30's to low-40's. Data =emand robust. Dragging business either 1) losing relevance or 2) inflec=ing. Consolidated revenue/EBITDA can +2/6% CAGR through 2020E, resp=ctively... AND EBITDA is diversified. Mexico 30%. Brazil 20%. US=/EUR markets 25%. Remainder sprea

nda" =ate: June 14, 2018 at 9:04:20 AM EDT To: "Rich Kahn' =ubject: BAML Insight: NASPERS discount, X

hind them= Scope to drive margins from low-30's to low-40's. Data dem=nd robust. Dragging business either 1) losing relevance or 2) inflecting=/i>. Consolidated revenue/EBITDA can +2/6% CAGR through 2020E, respectiv=ly... AND EBITDA is diversified. Mexico 30%. Brazil 20%. USD/EUR m=rkets 25%. Remainder sprea

.00 33,393.00 SVB Financial SIVB_— Poonawala,Ebrahim B-1-9 BUY $170.38 $190.00 8,584.00 Texas Instr. TXN — Arya,Vivek B-1-7 BUY 74.15 82.00 73,899.00 Consolidated 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 Me

ge cap US oils. We view Hess as the most catalyst rich large cap US E&P for 2017 with a return to growth