Research Recommendations
For the period 1 July to 30 September 2008
Brewin Dolphin Ltd produces research from two departments, Investment Banking Equity Sales and Research, and Private Client Equity Research. The table below provides the research statistics from the Investment Banking Equity Sales and Research division only.
Research statistics for the Private Client Research Division are available on the Private Clients Recommendation page of the Brewin Dolphin website.
| Recommendation | Numbers | % | Proportion of Clients that we have had a Corporate relationship with in previous 12 months % |
|---|---|---|---|
| Buy1 | 163 | 76% | 33% |
| Sell2 | 11 | 5% | 0% |
| Hold | 40 | 19% | 3% |
| Total | 214 | 100% | 36% |
* Includes AIM and Official List companies.
BD Investment Banking Equity Sales and Research Recommendation definition
Expected absolute performance over next 12 months
Buy - 20%+ upside to BD 12m Price Target
Add - 10% - 20% upside to BD 12m Price Target
Hold – minus 10% to +10% to BD 12m Price Target
Reduce – minus 10% to 20% downside to BD 12m Price Target
Sell - minus 20% or more downside to BD 12m Price Target
1 “Buy includes “Strong Buy”, “Add” and “Buy” recommendations.
2 “Sell” includes “Take Profits”, “Reduce” and “Sell” recommendations.