Micron Document

EPSTEIN
page 3 / 3897 . OCR, unverified

websites in this report are provided for reader convenience only. Deutsche
Bank neither endorses the content nor
is responsible for the accuracy or security controls of those websites.
If you use the services of Deutsche Bank in connection with a purchase or
sale of a security that is discussed in this report,
or is included or discussed in another communication (oral or written) from
a Deutsche Bank analyst, Deutsche Bank may
act as principal for its own account or as agent for another person.
Deutsche Bank may consider this report in deciding to trade as principal. It
may also engage in transactions, for its
own account or with customers, in a manner inconsistent with the views taken
in this research report. Others within
Deutsche Bank, including strategists, sales staff and other analysts, may
take views that are inconsistent with those taken
in this research report. Deutsche Bank issues a variety of research
products, including fundamental analysis, equity-linked
analysis, quantitative analysis and trade ideas. Recommendations contained
in one type of communication may differ
from recommendations contained in others, whether as a result of differing
time horizons, methodologies, perspectives
or otherwise. Deutsche Bank and/or its affiliates may also be holding debt
or equity securities of the issuers it writes
on. Analysts are paid in part based on the profitability of Deutsche Bank AG
and its affiliates, which includes investment
banking, trading and principal trading revenues.
Opinions, estimates and projections constitute the current judgment of the
author as of the date of this report. They do
not necessarily reflect the opinions of Deutsche Bank and are subject to
change without notice. Deutsche Bank provides
liquidity for buyers and sellers of securities issued by the companies it
covers. Deutsche Bank research analysts sometimes
have shorter-term trade ideas that may be inconsistent with Deutsche Bank's
existing longer-term ratings. Some trade
ideas for equities are listed as SOLAR ideas on the Research Website
(https://research.db.com/Research/) , and can be
found on the general coverage list and also on the covered company ' s page.
EFTA01435581
--- PAGE 7 ---
A SOLAR idea represents a high-conviction
belief by an analyst that a stock will outperform or underperform the market
and/or a specified sector over a time frame
of no less than two weeks and no more than six months. In addition to SOLAR
ideas, analysts may occasionally discuss
with our clients, and with Deutsche Bank salespersons and traders, trading
strategies or ideas that reference catalysts or
events that may have a near-term or medium-term impact on the market price
of the securities discussed in this report,
which impact may be directionally counter to the analysts' current 12-month
view of total return or investment return as
described herein. Deutsche Bank has no obligation to update, modify or amend
this report or to otherwise notify a recipient
thereof if an opinion, forecast or estimate changes or becomes inaccurate.
Coverage and the frequency of changes in
market conditions and in both general and company-specific economic
prospects make it difficult to update research at
defined intervals. Updates are at the sole discretion of the coverage
analyst or of the Research Department Management,
and the majority of reports are published at irregular intervals. This
report is provided for informational purposes only and
does not take into account the particular investment objectives, financial
situations, or needs of individual clients. It is not
an offer or a solicitation of an offer to buy or sell any financial
instruments or to participate in any particular trading strategy.
Target prices are inherently imprecise and a product of the analyst ' s
judgment. The financial instruments discussed
in this report may not be suitable for all investors, and investors must
make their own informed investment decisions.
Prices and availability of financial instruments are subject to change
without notice, and investment transactions can lead
to losses as a result of price fluctuations and other factors. If a
financial instrument is denominated in a currency other
than an investor's currency, a change in exchange rates may adversely affect
the investment. Past performance is not
necessarily indicative of future results. Performance calculations exclude
transaction costs, unless otherwise indicated.
Unless otherwise indicated, prices are current as of the end of the previous
trading session and are sourced from local
exchanges via Reuters, Bloomberg and other vendors. Data is also sourced
from Deutsche Bank, subject companies, and
other parties.
The Deutsche Bank Research Department is independent of other business
divisions of the Bank. Details regarding our
organizational arrangements and information barriers we have to prevent and
avoid conflicts of interest with respect to


< prev page 3/3897 next >