Epstein Secrets

yst IvWing Lynch (DIFC) Jamie Clark, CFA Commodity Strategist MLI (UK) Research Analyst MLI (UK) Cesar Tiron Sashank Lanka Research Analyst Merril Lynch (DIFC) Belal Rajih Sabbah, CFA Research Analyst Merril L h DIFC) Jean-Michel Saliba EFTA00634193 Research Analyst Merrill Lynch KSA Company

Uppurts :ou igu: g tUitti Disclosures Research Analysis JeartMkbelSOU MENA EconomistfStrategist Hootan Yazhari, CFA MLI (UK) Research Analyst Merdll Lynch (DIFC) This report is intended for Hamdy Hamoudi Road the research report for complete information including Importah dtsclosures and analyse cerld

y. contact Research Opecabcre Recipient Hamdy Hambad) Cola Mackay. CFA, Director Emersins (mom( tAiddle East & Afrit. &mits Sales Bank ol America Merrie Lynch Office: Mis ~erica was piepend by Seks persoon.% of Bonk of Amenko Merrill Lynch opdis subject to the teems ovacith at the JolkwinglMk "SALES VIEW

(10.4) Pakistan (0.0) (6.01 (u.31 (6.4) EFTA00634189 New Zealand (0.11 l I-21 (1.31 MEGA Baskets (trade has now played out) • Basket of BofAML BUY rated Consumer stocks (MEGAACON Index, 7 constituents, can trade $150m/day) — Hedge with 2823 HK puts. Under the new proposal the Consumer sector

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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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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. 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

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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

nt, which is the most profitable airplane manufacturing company in the world. Consolidated Edison (ED) Brian Chin +1 646 855 5855 Research Analyst, MLPF&S Underperform, PO $59 1Q17 investment thesis Since the November elections, utility valuations have not adequately adjusted to the rapid shift towards

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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

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o expect prices to rebound to $55/bbl by year end. In fact current levels of ~$40 are close to the summer floor ($39) they had previously suggested. BofAML strategists have turned bullish Oil & Gas equities given more CB (BoE) easing, attractive div yields and exposure to the EM recovery narrative. Moreo

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ound 3% in 2017 and 3.5% in 2018. That in turn would mean a more aggressive Fed and in all likelihood a bigger rise in yields and the USD. Chart 15: BofAML sees GDP accelerating into 2018... Chart 16: ...with inflation picking up too m Global GDP growth % m DM GDP growth % m EM GDP growth % m Global CPI

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