Epstein Secrets

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Bloomberg BABA US Exchange Ticker NYS BABA Price at 6 May 2015 (USD) Price target - 12mth (USD) 52-week range (USD) NASDAQ 100 March Q beat; Mobile crosses the median March quarter beat on higher take rate and ad rev Highlights of the Alibaba March quarter ranged from continued strength in mo

hise value (we estimate Poker/Slots generates over $250mn+ in revenue annually}. Our $2.70 PO is based on 11x 2018E EBITDA (which is a premium to the Mobile gaming peer group due to margin expansion potential}, plus $1.41/share in cash and assets (building). Bankof America Merrill Lynch Internet/e-Comme

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sions or differentiated royalty rates. STC the likely beneficiary of FTTH expansion Whilst we argue that STC could lose further market share in the Mobile market as a result of regulatory moves, we believe the negative impact will be offset by growing revenues from FTTH, IPTV and the corporate market. I

rules. Bank of America Merrill Lynch International Limited, Frankfurt Branch (BAMLI Frankfurt) distributes this report in Germany and is regulated by BaFin. This research report has been prepared and issued by MLPF&S and/or one or more of its non-US affiliates. MLPF&S is the distributor of this research