Tellimer Insights

Ratings

Ratings are indicative, forward looking and provided to assist clients in assessing the potential performance of the relevant asset. They are not advice.

Equity

Tellimer Research

RatingMeaning
BuyUpside of 15% or more within a trading range of 180 days
BuyUpside or downside of less than the above within a trading range of 180 days
BuyDownside of 10% or more within a trading range of 180 days

Asia Securities Research

RatingMeaning
BuyUpside of 15% or more within a trading range of 365 days
BuyUpside or downside of less than the above within a trading range of 365 days
BuyDownside of 15% or more within a trading range of 365 days

IDLC Securities

RatingMeaning
BuyUpside of 15% or more within a trading range of 180 days
BuyUpside or downside of less than the above within a trading range of 180 days
BuyDownside of 10% or more within a trading range of 180 days

IMS Research

RatingMeaning
BuyUpside of more than 15% in the next 12 months
BuyUpside of 0% - 15% in the next 12 months
BuyUpside below 0% in the next 12 months
Based on 12-month horizon unless stated otherwise in the report. Upside is the percentage difference between the target price and market price.

IH Securities Research

RatingMeaning
BuyExpected 1-year return is at least 20% in the next 12 months
BuyExpected 1-year return of between -10% and 20% in the next 12 months
BuyExpected 1-year return of -10% and below in the next 12 months

NCB Capital Research

RatingMeaning
BuyTarget price represents an increase in the share price in excess of 15% in the next 12 months
BuyTarget price represents a change in the share price between -10% and +15% in the next 12 months
BuyTarget price represents a fall in share price exceeding 10% in the next 12 months

Pharos Research

RatingMeaning
BuyUpside is more than 15% in the next 12 months
BuyChange potential is within +/-15% in the next 12 months
BuyDownside is more than 15% in the next 12 months

Rong Viet Research

RatingMeaning
BuyTotal return including dividends of more than +20% in the next 12 months
BuyTotal return including dividends of +5% to +20% in the next 12 months
BuyTotal return including dividends of -5% to +5% in the next 12 months
BuyTotal return including dividends of -20% to -5% in the next 12 months
BuyTotal return including dividends of less than -20% in the next 12 months

Capital Markets Argentina Research

RatingMeaning
BuyUpside is more than 15% in the next 12 months
BuyChange potential is within +/-15% in the next 12 months
BuyDownside is more than 15% in the next 12 months

Alfa

RatingMeaning
BuyExpected total stock return > 15%
BuyExpected total stock return < 15% and > 0%
BuyExpected total stock return < 0%

GK Capital Research

RatingMeaning
BuyTotal returns of 10% or greater in the next 12-18months
BuyTotal returns of -5% to 10% in the next 12-18 months
BuyTotal returns below -5% in the next 12-18 months

InterCapital Research

RatingMeaning
BuyEquities with expected absolute revenue of more than 20% in the monitored time period
BuyEquities with expected absolute return of 10%-20% in the monitored time period
BuyEquities with expected absolute return of -10% to 10% in the monitored time period
BuyEquities with expected absolute return below -10% in the monitored time period
BuyAn issuer might be placed Under Review due to new information which is not included in the analysis

Bualuang Securities

RatingMeaning
BuyExpected positive total returns of 15% or more over the next 12 months.
BuyExpected total returns of between -15% and +15% over the next 12 months.
BuyExpected negative total returns of 15% or more over the next 12 months.
BuyExpected positive total returns of 15% or more over the next 3 months.

ATA Invest

RatingMeaning
BuyThe stock is expected to return above the benchmark index (ISE-100) over 12 months in the market, or else provides the best risk/reward ratio.
BuyThe stock is expected to return in line with the benchmark index (ISE-100) over 12 months in the market, or else does not offer a compelling risk/reward profile.
BuyThe stock is expected to return below the benchmark index (ISE-100) over 12 months in the market, or else with unacceptable risk relative to the potential reward.

Banorte

RatingMeaning
BuyThe expected performance of the stock is greater than the MEXBOL estimated performance.
BuyThe expected performance of the stock is similar to the MEXBOL estimated performance.
BuyThe expected performance of the stock is lower than the MEXBOL estimated performance.

CGS-CIMB

RatingMeaning
BuyThe stock’s total return is expected to exceed 10% over the next 12 months.
BuyThe stock’s total return is expected to be between 0% and positive 10% over the next 12 months.
BuyThe stock’s total return is expected to fall below 0% or more over the next 12 months.
The total expected return of a stock is defined as the sum of the: (i) percentage difference between the target price and the current price and (ii) the forward net dividend yields of the stock. Stock price targets have an investment horizon of 12 months.

PhillipCapital

RatingMeaning
BuyThe stock’s total return is expected to exceed 20%.
BuyThe stock’s total return is expected to be between 5% and 20%.
BuyThe stock’s total return is expected to be between -5% and 5%.
BuyThe stock’s total return is expected to be between -5% and -20%.
BuyThe stock’s total return is expected to fall below 20% or more.
We do not base our recommendations entirely on these quantitative return bands. We consider qualitative factors like (but not limited to) a stock's risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculatively undertones surrounding the stock, before making our final recommendation.

FFBH

RatingMeaning
BuyThe stock estimated target price is more than 10% higher than the share price as of the valuation date.
BuyThe stock estimated target price is in the range -10% to +10% compared to the share price as of the valuation date.
BuyThe stock estimated target price is more than 10% lower than the share price as of the valuation date.
BuyThe company is currently under review and latest target price estimation is considered not to be up-to-date.
BuyFinancial forecasts, rating and target price estimation are restricted from disclosure due to regulatory, compliance or other reasons.

Fixed Income

Tellimer Research

RatingMeaning
BuyAn expected tightening of the hard currency bond to the relevant OECD benchmark bond of more than 50bp within the next 180 days. Or for local currency bond or forex investments an expected profit in US$ terms of more than 10%.
BuyAn upside or downside of less than the above within a trading range of 180 days.
BuyAn expected widening of the hard currency bond to the relevant OECD benchmark bond of more than 50bp within the next 180 days. Or for local currency bond or forex investments an expected loss in US$ terms of more than 10%.

Bondcritic

RatingMeaning
BuyExpected return of more than 15% in the next 12 months.
BuyExpected return of between 2% to 15% in the next 12 months.
BuyExpected return of less than 2% in the next 12 months.

FinMind

RatingMeaning
BuyHighest Credit Quality
BuyVery High Credit Quality
BuyVery High Credit Quality
BuyVery High Credit Quality
BuyHigh Credit Quality
BuyHigh Credit Quality
BuyHigh Credit Quality
BuyMedium Credit Quality
BuyMedium Credit Quality
BuyMedium Credit Quality
BuySpeculative Credit Quality
BuySpeculative Credit Quality
BuySpeculative Credit Quality
BuyHighly Speculative Credit Quality
BuyHighly Speculative Credit Quality
BuyHighly Speculative Credit Quality
BuySubstantial Credit Risk
BuySubstantial Credit Risk
BuySubstantial Credit Risk
BuyExtremely Speculative/Default Risk

Sector Ratings

CGS-CIMB

RatingMeaning
BuyAn Overweight rating means stocks in the sector have, on a market cap-weighted basis, a positive absolute recommendation.
BuyA Neutral rating means stocks in the sector have, on a market cap-weighted basis, a neutral absolute recommendation.
BuyAn Underweight rating means stocks in the sector have, on a market cap-weighted basis, a negative absolute recommendation.

Country Ratings

CGS-CIMB

RatingMeaning
BuyAn Overweight rating means investors should be positioned with an above-market weight in this country relative to benchmark.
BuyA Neutral rating means investors should be positioned with a neutral weight in this country relative to benchmark.
BuyAn Underweight rating means investors should be positioned with a below-market weight in this country relative to benchmark.
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