EDWARD JONES STOCK TABLES

Transcription

1 EDWARD JONES STOCK TABLES The following is a listing of the Edward Jones Research Department U.S. coverage. Prices as of December 1, 2017 For important disclosures, please see page 7. Edward Jones clients can access the full research report with full disclosures on any of the companies mentioned in this newsletter through the AccountLink portion of the Edward Jones website Clients and others can contact a local Edward Jones financial advisor, who can provide you with more information, including a complete company opinion, or write to Research Department, Edward Jones, Manchester Rd., St. Louis, MO Information about research distribution is available through the Investments & Services link on Ticker Symbol Dow Jones Industrial Average INDU ,670 S&P 500 SPX ,183 COMMUNICATION SERVICES (3%) AT&T T BUY S 2,5,8, ,395 G/I 14 BCE Inc. BCE HOLD R 1,4,7, ,922 G/I 12 CenturyLink CTL HOLD AR 3,6,9, ,353 G/I 14 Comcast Cl. A CMCSA BUY R 1,4,7, ,431 G/I 12 Verizon Communications VZ BUY R 2,5,8, ,910 G/I 2,4,14 Vodafone PLC VOD BUY S 2, ,259 G/I 12 CONSUMER DISCRETIONARY (11%) CBS Cl. B CBS HOLD R 1,4,7, ,010 G/I D. R. Horton DHI HOLD R 2,5,8, ,356 G Disney (Walt) Company DIS BUY R 1, ,334 G/I Dollar General DG BUY R 1,4,7, NA G/I Ford Motor F HOLD S 3,6,9, ,153 G/I 14 General Motors GM HOLD S 3,6,9, NA G/I Gildan Activewear GIL BUY R 1,3,6, ,884 G/I 12 Harley-Davidson HOG HOLD R 3,6,10, ,009 G Home Depot HD HOLD R 3,6,9, ,613 G/I 14 Kohl's KSS HOLD R 3,6,9, ,129 G 14 Lowe's LOW BUY R 2,5,8, ,792 G/I 14 Magna International MGA HOLD R 3,6,9, ,130 G/I 12 McDonald's MCD BUY R 3,6,9, ,176 G/I 14 Nike NKE HOLD R 1,4,7, ,290 G/I Omnicom Group OMC BUY R 1,4,7, ,437 G/I O'Reilly Automotive ORLY BUY ND 71,884 G The Priceline Group PCLN BUY ND 152,874 G Ross Stores ROST HOLD R 3,6,9, ,341 G/I Scripps Networks Interactive SNI HOLD R 3,6,9, NA G Starbucks SBUX BUY R 2,5,8, ,625 G/I TJX Companies TJX BUY R 3,6,9, ,622 G/I Tapestry TPR HOLD S 1,4,7, ,826 G Target TGT HOLD R 3,6,9, ,780 G/I Thomson Reuters TRI BUY R 3,6,9, ,255 G/I 12 Tiffany & Co. TIF BUY R 1,4,7, ,706 G Time Warner TWX HOLD S 3,6,9, ,422 G/I Tractor Supply TSCO BUY R 3,6,9, ,906 G Ulta Beauty ULTA HOLD ND 87,107 G VF Corp. VFC BUY R 3,6,9, ,503 G/I YUM China YUMC HOLD R 12,3,6, NA A YUM! Brands YUM HOLD R 2,5,8, ,470 G/I Years Ago Now Worth Page 1 of 7

2 CONSUMER STAPLES (10%) Altria Group MO BUY R 1,4,7, ,868 G/I CVS Health CVS HOLD R 2,5,8, ,062 G/I Campbell Soup CPB HOLD R 1,4,7, ,985 G/I Church & Dwight CHD HOLD R 3,6,9, ,712 G Clorox CLX HOLD R 2,5,8, ,171 G Coca-Cola KO HOLD R 4,7,10, ,991 G/I Colgate-Palmolive CL HOLD R 2,5,8, ,875 G/I ConAgra Foods CAG HOLD R 3,6,9, ,359 G/I Costco COST BUY R 2,5,8, ,418 G/I Diageo PLC DEO BUY R 4, ,697 G/I 12 Estee Lauder EL BUY R 3,6,9, ,861 G/I General Mills GIS HOLD R 2,5,8, ,583 G/I Hershey HSY HOLD R 3,6,9, ,868 G/I Hormel Foods HRL BUY R 2,5,8, ,304 G/I Kellogg K HOLD R 3,6,9, ,518 G/I Kimberly-Clark KMB HOLD R 1,4,7, ,579 G/I Kraft Heinz KHC BUY R 3,6,9, NA G/I McCormick & Co. MKC BUY R 1,4,7, ,480 G Molson Coors TAP BUY S 3,6,9, ,174 G/I Mondelez International MDLZ BUY R 1,4,7, ,883 G/I PepsiCo PEP BUY R 1,3,6, ,284 G/I Philip Morris International PM BUY S 1,4,7, NA G/I Procter & Gamble PG BUY R 2,5,8, ,545 G/I Sysco SYY HOLD R 1,4,7, ,622 G/I Walgreens Boots Alliance WBA HOLD R 3,6,9, ,204 G/I Walmart WMT HOLD R 1,4,6, ,875 G/I 14 ENERGY (9%) Anadarko APC HOLD NM 7 NA S 3,6,9, ,122 G/I Apache APA BUY S 2,5,8, ,835 G/I BP PLC BP HOLD S 3,6,9, ,336 G/I 12 Baker Hughes BHGE HOLD S 2,5,8, ,174 G Canadian Natural Resources CNQ BUY R 1,4,7, ,311 G/I 12 Cenovus Energy CVE HOLD S 3,6,9, NA G/I 12 Chevron CVX BUY S 3,6,9, ,495 G/I ConocoPhillips COP BUY R 3,6,9, ,034 G/I 14 Devon Energy DVN BUY S 3,6,9, ,251 G/I EOG Resources EOG BUY S 1,4,7, ,410 G/I Enbridge ENB BUY R 3,6,9, ,399 G/I 12 EnCana ECA BUY S 3,6,9, ,358 G/I 12 ExxonMobil XOM HOLD R 3,6,9, ,353 G/I Halliburton HAL BUY S 3,6,9, ,984 G/I Hess HES HOLD NM 5 NA S 3,6,9, ,166 G/I Kinder Morgan KMI HOLD R 2,5,8, NA G/I Marathon Oil MRO BUY S 3,6,9, ,538 G Marathon Petroleum MPC BUY R 3,6,9, NA G/I National Oilwell Varco NOV BUY S 3,6,9, ,328 G Newfield Exploration NFX BUY ND 6,205 G Occidental Petroleum OXY HOLD S 1,4,7, ,987 G/I ONEOK OKE HOLD R 2,5,8, ,306 G 14 Phillips 66 PSX HOLD R 3,6,9, NA G/I Pioneer Natural Resources PXD BUY S 3, ,525 G/I Royal Dutch Shell PLC RDS.A BUY S 3,6,9, ,824 G/I 12 Schlumberger SLB HOLD S 1,4,7, ,005 G/I Suncor Energy SU HOLD R 3,6,9, ,824 G/I 12 Total SA TOT BUY S 1,4,7, ,038 G/I 12 TransCanada TRP HOLD R 1,4,7, ,082 G/I 12 Valero Energy VLO HOLD R 3,6,9, ,403 G/I Page 2 of 7

3 FINANCIAL SERVICES (17%) Alliance Data Systems ADS HOLD R 3,6,9, ,153 G Allstate ALL SELL R 1,4,7, ,833 G/I 5 American Express AXP HOLD R 2,5,8, ,658 G/I 13 American Tower AMT BUY R 1,4,7, ,028 G/I 16 BB&T Corp. BBT HOLD R 3,6,9, ,342 G/I 5,10 Bank of America BAC HOLD R 3,6,9, ,177 G/I * Bank of New York Mellon BK HOLD R 2,5,8, ,829 G/I 5,10 Berkshire Hathaway Cl. A BRK.A BUY ND 20,807 G Berkshire Hathaway Cl. B BRK.B BUY ND 20,577 G BlackRock BLK BUY R 3,6,9, ,220 G/I 5,6,15 Boston Properties BXP HOLD R 1,4,7, ,785 G/I 16 Capital One Financial COF HOLD S 2,5,8, ,430 G/I Citigroup C BUY R 2,5,8, ,470 G/I ** Duke Realty DRE HOLD R 2,5,8, ,652 G/I 16 Equity Residential Properties EQR HOLD R 1,4,7, ,331 G/I 16 Fifth Third Bancorp FITB HOLD R 1,4,7, ,986 G/I 5,10,13 HSBC Holdings PLC HSBC HOLD AR 4,7,9, ,644 G/I 6,12,14 Highwoods Properties HIW HOLD R 3,6,9, ,375 G/I 16 Invesco IVZ BUY R 3,6,9, ,178 G 5,6,15 JPMorgan Chase JPM HOLD R 1,4,7, ,116 G/I *** Kimco Realty KIM HOLD R 1,4,7, ,511 G/I 16 Lazard Ltd. LAZ HOLD S 2,5,8, ,189 G 5 Manulife Financial MFC BUY S 3,6,9, ,121 G/I **** Morgan Stanley MS HOLD R 2,5,8, ,466 G/I ***** Northern Trust NTRS HOLD R 1,4,7, ,972 G/I 5,10 PNC Financial PNC BUY R 2,5,8, ,236 G/I 5,10,13 The Progressive Corp. PGR HOLD AR 39,024 G Prologis PLD BUY R 3,6,9, ,624 G/I 16 Public Storage PSA HOLD R 3,6,9, ,266 G/I 16 Realty Income O HOLD R ,908 G/I 16 Simon Property Group SPG BUY R 2,5,8, ,428 G/I 16 State Street STT HOLD R 1,4,7, ,859 G/I 5 Synchrony Financial SYF BUY R 2,5,8, NA G/I T. Rowe Price TROW HOLD R 3,6,9, ,061 G/I 5 The Travelers Cos. TRV SELL R 3,6,9, ,851 G/I U.S. Bancorp USB BUY R 1,4,7, ,267 G/I ****** Ventas VTR BUY R 3,6,9, ,945 G/I 16 Weingarten Realty WRI HOLD R 3,6,9, ,812 G/I 16 Wells Fargo WFC HOLD R 3,6,9, ,594 G/I ******* Welltower HCN BUY R 2,5,8, ,997 G/I 16 HEALTH CARE (15%) Abbott Laboratories ABT BUY R 2,5,8, ,774 G/I AbbVie ABBV HOLD R 2,5,8, NA G/I Allergan PLC AGN HOLD R 3,6,9, ,085 G/I Amgen AMGN HOLD R 3,6,9, ,583 G/I Baxter International BAX HOLD R 1,4,7, ,967 G/I Becton, Dickinson and Co. BDX HOLD R 3,6,9, ,292 G/I Bristol-Myers Squibb BMY BUY R 2,5,8, ,305 G/I Cerner CERN BUY ND 47,324 G Danaher DHR HOLD R 1,4,7, ,671 G/I Dentsply Sirona XRAY HOLD R 1,4,7, ,575 G Express Scripts ESRX HOLD NA ND 19,241 G Gilead Sciences GILD HOLD R 3,6,9, ,000 G/I GlaxoSmithKline PLC GSK HOLD AR 1,4,7, ,319 G/I 12 Henry Schein HSIC HOLD ND 24,159 G Johnson & Johnson JNJ BUY R 3,6,9, ,969 G/I LabCorp LH HOLD ND 21,779 G Lilly (Eli) LLY HOLD R 3,6,9, ,882 G/I McKesson MCK HOLD R 1,4,7, ,979 G/I Medtronic PLC MDT BUY R 1,4,7, ,951 G/I Merck MRK BUY R 1,4,7, ,689 G/I : *Bank of America 2,4,5,6,10,14,17; ***Manulife Financial 5,6,12,14,15; ***U.S. Bancorp 5,7,8,10,11,13; ****Wells Fargo 2,4,5,10,13,14 Page 3 of 7

4 HEALTH CARE (15%) (CONTINUED) Mettler-Toledo MTD HOLD ND 54,074 G Novartis AG NVS BUY R ,667 G/I 12 PerkinElmer PKI HOLD S 2,5,8, ,703 G Pfizer PFE BUY R 3,6,9, ,105 G/I Shire PLC SHPG HOLD R 4, ,029 G/I Stryker SYK HOLD R 1,4,7, ,469 G/I Teva Pharmaceuticals TEVA HOLD AR 3,6,9, ,009 G/I 12 Thermo Fisher Scientific TMO BUY S 1,4,7, ,543 G/I Zimmer Biomet Holdings ZBH BUY R 1,4,7, ,063 G/I Zoetis ZTS HOLD R 3,6,9, NA G/I INDUSTRIALS (10%) 3M Company MMM HOLD R 3,6,9, ,914 G/I A.O. Smith AOS BUY R 2,5,8, ,500 G AMETEK AME BUY S 3,6,9, ,567 G Boeing BA HOLD R 3,6,9, ,950 G/I C.H. Robinson Worldwide CHRW HOLD R 3,6,9, ,711 G CAE CAE BUY R 3,6,9, ,457 G 12 CSX Corp. CSX BUY R 3,6,9, ,058 G/I Canadian National Railway CNI HOLD R 3,6,9, ,823 G/I 12 Canadian Pacific Railway CP BUY S 1,4,7, ,092 G/I 12 Caterpillar CAT HOLD S 2,5,8, ,312 G/I 2,4,14 Cummins CMI HOLD S 3,6,9, ,207 G/I Deere DE BUY R 2,5,8, ,978 G/I Donaldson DCI HOLD R 3,6,9, ,418 G Dover Corp. DOV HOLD R 3,6,9, ,881 G Emerson EMR HOLD R 3,6,9, ,501 G/I Expeditors International EXPD HOLD R 6, ,695 G Fastenal FAST BUY R 2,5,8, ,480 G FedEx FDX BUY R 1,4,7, ,065 G/I Fortive FTV HOLD R 3,6,9, NA G General Dynamics GD BUY R 2,5,8, ,492 G/I General Electric GE BUY S 1,4,7, ,871 G/I 5,14 Graco GGG HOLD R 2,5,8, ,069 G Grainger GWW HOLD R 3,6,9, ,313 G Honeywell International HON BUY R 3,6,9, ,337 G/I IDEX IEX HOLD R 1,4,7, ,849 G Illinois Tool Works ITW BUY R 1,4,7, ,086 G/I J.B Hunt JBHT BUY R 2,5,8, ,422 G Jacobs Engineering JEC BUY R 3,6,9, ,920 G Johnson Controls JCI HOLD R 1,4,7, ,332 G/I Lockheed Martin LMT BUY R 3,6,9, ,170 G/I Norfolk Southern NSC BUY R 3,6,9, ,875 G/I PACCAR PCAR BUY R 3,6,9, ,509 G/I Parker-Hannifin PH BUY R 3,6,9, ,459 G/I Republic Services RSG HOLD R 1,4,7, ,828 G/I Roper Technologies ROP BUY R 1,4,7, ,763 G/I Snap-on SNA BUY R 3,6,9, ,979 G Southwest Airlines LUV HOLD S 1,3,6, ,052 G/I Stanley Black & Decker SWK BUY R 3,6,9, ,793 G/I Stericycle SRCL HOLD ND 11,268 G Union Pacific UNP BUY R 3,6,9, ,156 G/I United Parcel Service UPS HOLD R 3,6,9, ,159 G/I United Technologies UTX BUY R 3,6,9, ,639 G/I Valmont Industries VMI HOLD R 1,4,7, ,014 G Wabtec WAB HOLD R 2,5,8, ,450 G Woodward WWD BUY R 2,5,8, ,489 G MATERIALS (3%) Agrium AGU BUY R 1,4,7, ,788 G/I 12 BHP Billiton (ADR) BBL HOLD NA AR 3, ,463 G/I 12 BHP Billiton (US ADR) BHP HOLD NA AR 3, ,120 G/I 12 DowDuPont DWDP HOLD S 1,4,7, ,653 G/I Page 4 of 7

5 MATERIALS (3%) (CONTINUED) Ecolab ECL BUY R 1,4,7, ,119 G/I FMC Corp. FMC BUY R 1,4,7, ,987 G International Flavors & Fragrances IFF HOLD R 1,4,7, ,202 G Monsanto MON HOLD R 1,4,7, ,006 G/I Potash POT BUY AR 2,5,8, ,233 G/I 12 Praxair PX BUY R 3,6,9, ,419 G/I Teck Resources TECK SELL AR 3,6,9, ,335 G 12 TECHNOLOGY (19%) Accenture PLC ACN HOLD R 5, ,554 G/I 12 Adobe Systems ADBE HOLD ND 43,064 G Alphabet GOOGL BUY ND 29,875 G Amazon AMZN BUY ND 129,941 G Analog Devices ADI BUY R 3,6,9, ,309 G/I Apple Inc. AAPL BUY R 2,5,8, ,649 G/I Applied Materials AMAT HOLD R 3,6,9, ,377 G/I Automatic Data Processing ADP HOLD R 1,4,7, ,076 G/I 5,15 Broadcom Limited AVGO BUY R 3,6,9, NA G/I CGI Group GIB HOLD ND 46,388 G Check Point Software CHKP BUY ND 45,701 G Cisco Systems CSCO HOLD R 1,4,7, ,109 G/I Cognizant CTSH HOLD S 5,8,11, ,785 G/I ebay EBAY HOLD ND 24,568 G Facebook FB BUY ND NA G Fiserv FISV HOLD ND 51,218 G HP Inc. HPQ HOLD S 1,4,7, ,232 G/I Hewlett Packard Enterprise HPE HOLD S 1,4,7, NA G/I IBM IBM HOLD R 3,6,9, ,620 G/I Intel INTC HOLD R 3,6,9, ,684 G/I MasterCard MA HOLD R 2,5,8, ,490 G/I Microsoft MSFT BUY R 3,6,9, ,132 G/I NetApp NTAP HOLD R 1,4,7, ,036 G Oracle ORCL BUY R 2,5,8, ,902 G/I Paychex PAYX HOLD R 2,5,8, ,196 G/I 5,15 PayPal PYPL BUY ND NA G Qualcomm QCOM HOLD R 3,6,9, ,452 G/I Texas Instruments TXN HOLD R 2,5,8, ,900 G/I Trimble TRMB HOLD ND 22,654 G Visa V BUY R 3,6,9, NA G/I VMware VMW BUY ND 13,145 G UTILITIES (3%) Alliant Energy LNT HOLD R 2,5,8, ,435 G/I Ameren AEE BUY R 3,6,9, ,314 G/I American Electric Power AEP HOLD R 3,6,9, ,081 G/I 14 American Water Works AWK HOLD R 3,6,9, NA G/I 14 Aqua America WTR HOLD R 3,6,9, ,056 G/I 14 Atmos Energy ATO BUY R 3,6,9, ,944 G/I AVANGRID AGR BUY S 1,4,7, ,719 G/I CenterPoint Energy CNP HOLD R 3,6,9, ,730 G/I DTE Energy DTE HOLD R 1,4,7, ,187 G/I 14 Dominion Energy D BUY R 3,6,9, ,671 G/I Duke Energy DUK BUY R 3,6,9, ,405 G/I 14 Edison International EIX HOLD R 1,4,7, ,655 G/I Eversource Energy ES HOLD R 3,6,9, ,799 G/I Exelon EXC HOLD R 3,6,9, ,867 G/I Fortis FTS BUY R 3,6,9, ,364 G/I 12 MDU Resources Group MDU HOLD R 1,4,7, ,828 G/I NextEra Energy NEE BUY R 3,6,9, ,601 G/I NiSource NI HOLD R 2,5,8, ,531 G/I Northwest Natural Gas NWN SELL S 2,5,8, ,797 G/I Page 5 of 7

6 UTILITIES (3%) (CONTINUED) OGE Energy OGE BUY R 1,4,7, ,627 G/I ONE Gas OGS HOLD R 5,8,11, NA G/I PG&E PCG SELL S 1,4,7, ,267 G/I SCANA SCG BUY AR 1,4,7, ,755 G/I Sempra Energy SRE HOLD R 1,4,7, ,142 G/I Southern Company SO HOLD R 3,6,9, ,831 G/I 14 Spire SR BUY R 1,4,7, ,248 G/I Vectren VVC HOLD R 3,6,9, ,648 G/I 14 WEC Energy Group WEC HOLD R 3,6,9, ,159 G/I WGL Holdings WGL HOLD R 2,5,8, ,411 G/I Westar Energy WR HOLD R 1,4,7, ,595 G/I Xcel Energy XEL HOLD R 1,4,7, ,474 G/I Stock Focus List Equity Income Buy List Communication Services Health Care Communication Services Comcast Abbott Laboratories Verizon Communications Verizon Communications Johnson & Johnson Consumer Discretionary Consumer Discretionary Medtronic McDonald's Disney (Walt) Merck Omnicom Group Dollar General Novartis VF Corp. Lowe's Pfizer Consumer Staples The Priceline Group Thermo Fisher Scientific PepsiCo TJX Companies Industrials Procter & Gamble Tractor Supply AMETEK Energy Consumer Staples CSX Corp. ConocoPhillips Costco Deere Enbridge Estee Lauder United Technologies Financial Services Kraft Heinz Materials U.S. Bancorp Mondelez International FMC Corp. Ventas PepsiCo Praxair Health Care Philip Morris International Technology Johnson & Johnson Energy Alphabet Merck Chevron Apple Inc. Pfizer EOG Resources Check Point Software Industrials Halliburton Facebook Lockheed Martin Marathon Petroluem Microsoft United Technologies Pioneer Natural Resources Oracle Materials Total SA Visa Praxair Financial Services Utilities Technology American Tower Duke Energy Analog Devices Berkshire Hathaway Cl. B Fortis Microsoft BlackRock NextEra Energy Utilities Citigroup Dominion Energy U.S. Bancorp Please see next page for recent changes in opinions. Page 6 of 7

7 RECENT CHANGES IN RESEARCH OPINIONS Current Previous Company Name Symbol Opinion Opinion Emerson EMR Hold Buy Highwoods Properties HIW Hold Buy Qualcomm QCOM Buy Hold Republic Services RSG Hold NA SCANA SCG Buy Hold Suncor Energy SU Buy Hold Zimmer Biomet Holdings ZBH Buy Hold OTHER DISCLOSURES Stock prices and data are as of December 1, For more up to date prices, contact your financial advisor. The Dow Jones Industrial Average and S&P 500 Index are not managed and unavailable for direct investment. 52-week Price Range - Price range for the 52-week period ending December 1, $10,000 Invested Hypothetical $10,000 investment in each company 10 years ago with dividends reinvested for the period ended November 30, Does reflect spinoff activity. Does not imply a recommendation during this period of time. Past per-performance is not necessarily an accurate indication of future results. L-T EPS Growth Est. Our long-term earnings growth estimate is our expectation for growth over the course of a full economic cycle. This "normalized" figure avoids distortions which can occur if beginning- or ending-year results are impacted by one-time items or extreme peaks or troughs within the cycle. ratio Indicates whether a stock is overvalued. Calculated by dividing the current P/E (shown in this stock table) by the sum of the company s EPS growth rate and the dividend yield. Companies in bold are in our Stock Focus List. Dividends in bold indicate that a company has increased its dividend since December 31, Dividends may be increased, decreased or eliminated at any point without notice : Rising (R); Stable (S); At Risk (AR); No Dividend (ND). REQUIRED DISCLOSURES 1 Edward Jones has managed or co-managed an offering of this company s securities within the past 12 months. 2 Edward Jones has received compensation from this company for investment banking services within the past 12 months. 3 Edward Jones expects to receive or intends to seek compensation for investment banking services within the next three months. 4 Edward Jones has provided investment banking services for this company within the past 12 months. 5 Edward Jones has received compensation from this company for providing non-investment banking securities-related services within the past 12 months. 6 An affiliate of Edward Jones has received compensation from this company for products or services other than for investment banking services within the past twelve months. 7 Edward Jones has provided non-securities services for this company within the past 12 months. 8 Edward Jones has received compensation for products or services other than investment banking services from this company within the past 12 months. 9 Edward Jones makes a market in this security. 10 The member or its affiliates have a banking/borrowing relationship with this company. 11 Edward Jones offers credit cards to its customers through an affiliation with Elan Financial Services, a business unit of U.S. Bancorp, and U.S. Bancorp provides Edward Jones with mutual fund-related services. 12 Foreign tax on dividends may apply. See Edward Jones opinion for more information. 13 This company, or an affiliate, is a Program Bank in the Edward Jones Insured Bank Deposit Program. Edward Jones transfers available cash balances in client accounts into FDIC insured deposit accounts at Program Banks. Edward Jones receives a fee from each Program Bank based upon total balances on deposit. 14 Edward Jones publishes research opinions on both the bonds and common stock of this company. Edward Jones utilizes different analysis techniques in analyzing bonds and common stock investments of the same company. While bond and common stock research opinions about the same issuing company may appear inconsistent or contradictory, the separate opinions should be reviewed independent from one another. 15 This company, its parent or an affiliate is a product partner of Edward Jones. Edward Jones received both standard compensation and reimbursement for certain expenses as well as additional financial and non-cash incentives and benefits for non-investment banking services in connection with the sales of financial products from this product partner within the past twelve months. 16 EPS, P/E and EPS Growth Rates are based on Funds from Operations. 17 Edward Jones and its partners have lending relationships with Bank of America. Edward Jones receives no consideration from Bank of America for its opinion in this research report. Investment Categories for Stocks Growth & Income (G/I) - Large-cap companies that pay a dividend, as well as REITs and utility companies. Growth (G) - Small- and mid-cap companies, excluding REITs and utilities, as well as any large-cap companies that do not pay a dividend. Aggressive (A) - Micro-cap companies, companies with share prices below $4, stocks restricted by Research, and emerging-market stocks. The Edward Jones' Research Rating referenced does not take into account your particular investment profile and is not intended as an express recommendation to purchase, hold or sell particular securities, financial instruments or strategies. You should contact your Edward Jones Financial Advisor before acting upon the Edward Jones Research Rating referenced. P/E is based on fiscal year. Diversification does not guarantee a profit or protect against loss in declining markets. Systematic investing does not ensure a profit or protect against a loss. This publication is for information only. While the statements contained in this report are taken from sources that we believe to be reliable, we do not guarantee their accuracy. Some of this information is provided by an independent research service. The issues mentioned herein are subject to price change without notice. Additional information is available upon request. Analysts receive compensation that is derived from revenues of the firm as a whole which include, but are not limited to, investment banking revenue. Opinion Definitions: BUY Our opinion is to Buy this stock. We believe the valuation is attractive and total return potential is above average over the next 3-5 years compared with industry peers. HOLD Our opinion is to keep this stock. We believe the stock is fairly valued and total return potential is about average over the next 3-5 years compared with industry peers or a special situation exists, such as a merger, that warrants no action. SELL Our opinion is to Sell this stock. We believe the stock is overvalued and total return potential is below average over the next 3-5 years compared with industry peers. In some cases we expect fundamentals to deteriorate considerably and/or a recovery is highly uncertain. FYI For information only; factual, no opinion. All investment decisions need to take into consideration individuals unique circumstances such as risk tolerance, taxes, asset allocation and diversification. UNDER REVIEW (UR) Our rating, estimates, and opinion for this company are under review and should not be relied upon for making investment decisions until updated. The table below lists the percent of stocks we follow globally in each of our rating categories. Investment banking services indicate the percentage of those companies that have been investment banking clients within the past twelve months. As of 12/1/17. BUY HOLD SELL Stocks 44% 54% 2% Investment Banking Services 3% 2% 0% Member SIPC Page 7 of 7