General Research Disclosures
Stock Rating Disclosure
MST Marquee research1 uses a relative rating system to indicate an analyst’s view regarding an issuer and is not to be used or relied upon solely as investment advice. For a complete perspective, investors should carefully read the analyst report in full and not infer the contents from the ratings alone. MST Marquee research uses terms such as Buy, Overweight, Hold, Underweight, Sell and may clarify these terms using the descriptors such as Accumulate and Reduce. Investors should carefully read all ratings definitions (including Analyst Ratings) used in MST Marquee research.
MST Marquee Ratings System | Stock Price Performance Criteria |
---|---|
BUY | Expect outperformance against both Absolute and Relative Benchmarks over the specified timeframe |
OVERWEIGHT | Expect outperformance against either Absolute or Relative Benchmarks over the specified timeframe |
HOLD | Expect performance to be in-line with both Absolute and Relative Benchmark over the specified timeframe |
UNDERWEIGHT | Expect underperformance against either Absolute or Relative Benchmarks over the specified timeframe |
SELL | Expect underperformance against both Absolute or Relative Benchmarks over the specified timeframe |
Absolute Benchmark is defined as the net of 2yr forward midpoint of nominal GDP growth as forecast by the Reserve Bank of Australia plus 12mth forward average dividend yield. Relative Benchmark is defined as ASX 200 accumulation index or the analyst sector coverage performance. Unless otherwise disclosed, the specified time frame is 12 months.
General Disclaimer
Information
The information and opinions contained within MST Marquee Research were prepared by MST Financial Services Pty Ltd (ABN 54 617 475 180, AFSL 500557) (“MST”) which accepts responsibility for its contents.
Distribution
MST Marquee Research is distributed only as may be permitted by law. It is not intended for distribution or use by any person or entity located in a jurisdiction where distribution, publication, availability or use would be prohibited. MST makes no claim that MST Marquee Research content may be lawfully viewed or accessed outside of Australia. Access to MST Marquee Research content may not be legal for certain persons and in certain jurisdictions. If you access this service or content from outside of Australia, you are responsible for compliance with the laws of your jurisdiction and/or the jurisdiction of the third party receiving such content. MST Marquee Research is provided to our clients through our proprietary research portal and distributed electronically by MST to its MST Marquee clients. Some MST Marquee Research products may also be made available to its clients via third party vendors or distributed through alternative electronic means as a convenience. Such alternative distribution methods are at MST’s discretion.
Access and Use
Any access to or use of MST Marquee Research is subject to the Terms and Conditions of MST Marquee Research (https://mstfinancial.com.au/terms-of-service). By accessing or using MST Marquee Research you hereby agree to be bound by our Terms and Conditions and hereby liable for any monies due in payment of accessing this service. In addition you consent to MST collecting and using your personal data (including cookies) in accordance with our Privacy Policy (https://mstfinancial.com.au/privacy-policy), including for the purpose of a) setting your preferences and b) collecting readership data so we may deliver an improved and personalised service to you. If you do not agree to our Terms and Conditions and/or if you do not wish to consent to MST’s use of your personal data, please do not access this service.
Other Important Disclosures
MST Marquee Research is not intended, nor does it constitute a representation that an investment strategy or recommendation is suitable or appropriate for an investors individual circumstances. MST Marquee Research may not it be construed as personal advice or recommendation. MST encourages investors to seek independent financial advice regarding the suitability of investments for their individual circumstances and recommends that investments be independently evaluated.
Investments involve risks and the value of any investment or income may go down as well as up. Investors may not get back the full amount invested. Past performance is not indicative of future performance. Estimates of future performance are based on assumptions that may not be realised. If provided, and unless otherwise stated, the closing price provided is that of the primary exchange for the issuer’s securities or investments. The information contained within MST Marquee Research is published solely for information purposes and is not a solicitation or offer to buy or sell any financial instrument or participate in any trading or investment strategy.
Analysis contained within MST Marquee Research publications is based upon publicly available information and may include numerous assumptions. Investors should be aware that different assumptions can and do result in materially different results. Whilst MST makes every effort to use reliable, comprehensive information in the construction of its reports, MST makes no warranties of the accuracy, timeliness or completeness of information provided to it by third party providers.
Coverage by MST Marquee Research, including whether to initiate, update or cease coverage of an issuer or sector, is at the sole discretion of the Analyst providing the service.
MST discloses that it may, from time to time, perform paid services for the companies that are the subject of recommendations contained in research reports. All research reports are written independently of any paid services MST may be involved in. Under no circumstances has MST been influenced or received, either directly or indirectly, any commission, fee, benefit or advantage in connection with making any recommendation contained in the reports.
MST Marquee Research personnel may participate in issuer events such as site visits and are prohibited from accepting payment by the issuer of associated expenses unless pre-authorised by MST.
The research analysts principally responsible for the preparation of MST Marquee Research have received compensation based upon direct client contracting.
For important stock specific disclosures, stock price charts and equity rating histories, please see our website at https://mstfinancial.com.au.
Copyright
Copyright of the information contained within MST Marquee Research (including trademarks and service marks) are the property of their respective owners. MST Marquee Research, or any portion thereof, may not be reprinted, sold or redistributed without the prior and written consent of MST.
1 For international securities, MST Marquee research may use a different rating system. Please refer to the analyst report for further details.