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Our rating system is divided into three classifications: Buy,
Neutral, and Sell/Avoid. Our Buy rating is divided into
sub classifications by our analysts to reflect the degree to which the
analyst believes the shares are undervalued in relation to the market
and its peers, and the degree of financial risk represented by an investment
in the shares. These Buy sub classifications include: Strong Buy, Buy,
Strong Speculative Buy, and Speculative Buy. The analysts will comment
in the company reports on the factors underlying the assigned rating.
Pending Means Report Is In Preparation.
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Classification
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Sub Classification
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Description
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BUY RATINGS
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Strong Buy
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The current price of the company reflects
a substantial discount from the market and from the valuation accorded
its peers, and the company does not posses significant financial risk.
The analyst believes the stock at current levels represents a compelling
opportunity for capital gains over the time period to its target price.
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Buy
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The current price reflects a discount
from the market, and from its peers, and the company does not posses
significant financial risk. The analyst believes the stock at current
levels will provide an opportunity for capital gains over the period
of its target price. |
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Strong Speculative Buy
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The current price of the company reflects
a substantial discount from the market and from its peers, but the
company does have significant financial or other risks. The analyst
believes the stock at current levels represents an opportunity for
significant capital gains over the period to its target price, adjusted
for the risks as noted. |
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Speculative Buy
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The current price reflects a discount
from the market, and from its peers, but does posses significant financial
and/or other risks. The analyst believes the stock at current levels
will provide the opportunity for capital gains over the period of
its target price, adjusted for the risks as noted. |
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NEUTRAL
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Neutral Rating
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The analyst is unable to assign a buy
rating due to a number of specified factors noted in the report. These
include the stock being fairly valued relative to its peers and the
market, or the company may have risks that make it potentially unsuitable
for investment. Finally, there may be actions or financings the company
must accomplish before being considered for raising the investment
rating. |
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SELL/AVOID
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Avoid
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The analyst believes that the risks
of investment in the company are too severe, and an investment in
the company has a substantial probability for loss of all invested
capital. |
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Sell
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We believe that the Company may be
fairly valued or overvalued based on its current price, and that an
investment in the company should produce below market returns. |
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