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efta-01446937DOJ Data Set 10OtherEFTA01446937
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Unknown
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DOJ Data Set 10
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efta-01446937
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0
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2 March 2014
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Appendix 1
Important Disclosures
Additional information available upon request
For disclosures pertaining to recommendations or estimates made on securities other than the primary subject of this
research, please see the most recently published company report or visit our global disclosure look-up page on our
website at http://gm.db.corniger/disclosure/DisclosureDirectory.easr
Analyst Certification
The views expressed in this report accurately reflect the personal views of the undersigned lead analyst about the
subject issuers and the securities of those issuers. In addition, the undersigned lead analyst has not and will not receive
any compensation for providing a specific recommendation or view in this report. Brian Modoff
'Equity rating key
Buy: Based on a current 12- month view of total
share-holder return (TSR = percentage change in
share price from current price to projected target price
plus projected dividend yield ) , we recommend that
investors buy the stock.
Sell: Based on a current 12-month view of total share-
holder return, we recommend that investors sell the
stock
Hold: We take a neutral view on the stock 12-months
out and, based on this time horizon, do not
recommend either a Buy or Sell.
Notes:
1. Newly issued research recommendations and
target prices always supersede previously published
research.
2. Ratings definitions prior to 27 January, 2007 were:
Buy: Expected total return (including dividends)
of l0% or more over a 12-month period
Hold:
Expected
total
return
(including
dividends) between -10% and 10% over a 12-
month period
Sell: Expected total return (including dividends)
of -10% or worse over a 12-month period
Equity rating dispersion and banking relationships
600
500
400
300
200
100
0
Buy
Hold
Sell
MCompanies Covered •Cos v./ Banking Relationshtp
North American Universe
Deutsche Bank Securities Inc.
Pogo 23
CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e)
DB-SDNY-0101383
CONFIDENTIAL
SDNY_GM_00247567
EFTA01446937
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