Global Broker Ratings

Updated every afternoon, our global broker ratings cover the main equities listed in Europe, the US, Australia and South Africa. The report helps you identify listed companies affected by a ratings change.

21 May 2013

Listed below are details of selected companies that have undergone a ratings change today. Click on the link below to view a PDF of today's global broker ratings.

• Global broker ratings (25KB)

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Upgrade

Maintain

New rating

Downgrade

Source: Bloomberg (21 May 2013)

Ratings definitions:

• Outperform or overweight: the contributing broker predicts the share price of a security will perform better than a specific benchmark
• Underperform or underweight: a security will fare worse than a specific benchmark
• Upgrade and downgrade: a broker's last rating
• Maintain: a broker has maintained or reiterated a recommendation
• New rating: an analyst has initiated coverage on a stock
• Neutral or in-line recommendation: the broker expects a security's share price to match the performance of
  a benchmark
• Price target: the value a contributing broker expects the share price to reach (generally within a 12-month period). Recommendations are not always accompanied by a price target
• Last price: the market share price at the time of writing the update
• Potential upside/downside: the 'potential' percentage gain or loss that could result if a contributing broker's price target is reached. The percentage gain or loss is calculated based on the last price
• Contributing broker: refers to the investment management firm providing the recommendation and price target

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