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Research ratings and price targets

The following table lists current ratings and price targets with respective dates for companies covered by Davy Research. Where a rating or price target has been updated in the previous 12 months, we also show the previous and its date of issue.

We indicate where a rating is currently 'under review', 'suspended' or 'restricted'. An explanation of our ratings is provided below. 

Investment ratings

Davy ratings are indicators of the expected performance of the stock relative to its sector index (FTSE E300) over the next 12 months. At times, the performance might fall outside the general ranges stated below due to near-term events, market conditions, stock volatility or - in some cases - company-specific issues. Research reports and ratings should not be relied upon as individual investment advice. As always, an investor's decision to buy or sell a security must depend on individual circumstances, including existing holdings, time horizons and risk tolerance.

• Outperform: Outperforms the relevant E300 sector by 10% or more over the next 12 months.
• Neutral: Performs in-line with the relevant E300 sector (+/-10%) over the next 12 months.
• Underperform: Underperforms the relevant E300 sector by 10% or more over the next 12 months.
• Under Review: Rating is actively under review.
• Suspended: Rating is suspended until further notice.
• Restricted: Davy is currently unable to provide a rating for this security. This is due to market events, corporate change or other circumstances.

   

The ratings table also indicates if Davy has provided certain material investment banking services to any company under coverage in the past 12 months. The term 'material investment banking services' includes Davy acting as broker as well as the provision of corporate finance services, such as underwriting and managing or advising on a public offer.

The list of individual ratings is updated each Monday, except for public holidays, when it is updated on the following Tuesday.

Also provided is a summary of our ratings for all companies under research coverage, including those companies under coverage to which Davy has provided material investment banking services in the previous 12 months. This summary is updated on a quarterly basis.

Please note that the table of individual stocks below is updated on an ongoing basis, while the quarterly summary table is updated at the end of each quarter.

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If you require further information, please contact researchoperations@davy.ie.