SNS Securities continues as NIBC Markets

We are pleased to inform you that SNS Securities has been acquired by NIBC and will continue as NIBC Markets N.V..

NIBC is an enterprising bank focused on its clients’ most decisive moments in business and in life. With NIBC we have a value-adding partner.

We will continue to serve our clients as before. With a distinctively forward-thinking and can-do attitude, we support our clients in achieving their ambitions.

From now on you can find us at www.nibcmarkets.com.

Welcome to NIBC Markets.

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Rating distribution per 26/04/2017

Rating All covered companies Investment banking clients
Buy 47% 57%
Accumulate 18% 31%
Hold 31% 6%
Reduce 4% 6%
Sell 0% 0%
  100% 100%

Methodology, rating system and distribution of ratings

Our forecasts regarding the company's profit and loss account, balance sheet and/or cash flow statement are based on subjective views of relevant future company specific developments and market developments. Important variables are among others expected market growth, company's strategy and competitive position. In addition, company guidance is taken into account. Price targets and opinions in this report are based on a combination of discounted cash flow analysis, peer group analysis and/or historical valuation analysis, whereas the previously mentioned forecasts are used as input for these analyses. In addition industrial knowledge, company specific elements and/or market technical elements could play an important role to determine our price targets and opinions.