Epstein Secrets

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tact Your sales rePresentalhe a go to Matrix at http://ww.rnorganstardey.corrimatrix. My access and/or use cl Morgan Stanley Research is subject to Morgan Starleys Terms of Use plex/Armw.maganstanley.corriterirs.hten By accessing aridlor using Morgan Staley Research you are incfcating that you have read and agr

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d Information Science Zhen Yue (Committee Member) (Ph.D. degree conferred in 2014) Minsoo Park (Committee Member) (Ph.D. degree conferred in 2008) Rutgers, the State University of New Jersey School of Communication, Information and Library Studies Yuelin Lee (Committee Member) (Ph.D. degree conferred

nts of Keyword Advertising. Cambridge University Press: Cambridge, UK. Jansen, B.J. (2009) Understanding User — Web Interactions via Web Analytics. Morgan- Claypool Lecture Series. Marchionini, G. (Ed). Morgan-Claypool: San Rafael, CA. Jansen, B.J., Spink, A., and Taksa, I. Editors. (2009) Handbook of R

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-13 Jul-13 Jan-14 Jul 14 • FiriooTanpi(Jul-15) 1.1abmiceiSiod.Poitomionoo • CocroniSiockPeco Jul-1S Source: Morgan Slarty Research estimates. Thomson Reuleis Price Target $81 We derive our PT from a discounted cash flow analysis that uses a WACC of 10•% and a 2% terminal growth rate. The main drivers

ny generates earnings. Disclosure Section The information and opinions in Morgan Stanley Research were prepared by Morgan Stanley & Co. LLC. and/or Morgan Stanley MIR S.A.. C M and/or Morgan Stanley Mexico. Casa de Bolsa. S.A. de V.. ' gan Stanley Canada Limited. used in this disclosure sec ion, Morgan Stan

JtS12 Jan-I3 Jul.13 Jen-I4 Jul.14 • Ace Tama (046) —netegnaiSne•Pernanrce • CvnernSixt Pint Jul45 Seine: Morgan Stinky Research estimates. Thomson ReuIers Price Target $395 We derive our PT from a discounted cash flow analysis that uses a WACC of 10% and a 2% terminal growth rate. The main drivers

ny generates earnings. Disclosure Section The information and opinions in Morgan Stanley Research were prepared by Morgan Stanley & Co. LLC. and/or Morgan Stanley MIR S.A.. and/or Morgan Stanley Mexico. Casa de Boise. S.A. de C.V.. ' gan Stanley Canada Limited. As used in this disclosure sec ion, Morgan Stanle

es were used in order to have temporal consistency. BEN and LM reflect MS estimates; EV reflects consensus Thom son estimates. Source: Company Data, Thompson Reuters, Morgan Stanley Research estimates, except for non-covered companies (NC), which are consensus estimates HOUSE_OVERSIGHT_025580 --- PAGE BREAK ---

l and capital markets that delays harvesting of investments and dampens returns which Lower cash earnings. Morgan Stanley & Co. International plc (“Morgan Stanley”) is cur- rently acting as financial advisor to Banco Popular Espafiol, S.A. (“Banco Popular”) in relation to its agreements with Balsam Invest- ment