Disclaimer
Regulatory Information
Goodbody Stockbrokers is regulated by the Central Bank of Ireland and is a member firm of the Irish Stock Exchange and the London Stock Exchange. This publication has been approved by Goodbody Stockbrokers. The information has been taken from sources we believe to be reliable, we do not guarantee their accuracy or completeness and any such information may be incomplete or condensed. All opinions and estimates constitute best judgement at the time of publication and are subject to change without notice. The information, tools and material presented in this document are provided to you for information purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or to buy or subscribe for securities.Conflicts of Interest
Goodbody Stockbrokers has procedures and policies in place to identify and manage any potential conflicts of interest that arise in connection with its research business. Goodbody Stockbrokers analysts and other staff who are involved in the preparation and dissemination of research operate and have a management reporting line that is independent to its Corporate Finance business. Information barriers are in place between the Corporate Finance arm and the Research arm to ensure that any confidential and or price sensitive information is handled in an appropriate manner.
Our Investment Research Conflicts of Interest Policy is available at conflictsofinterest
Investors should be aware, that where appropriate, research may be disclosed to the issuer(s) in advance of publication in order to correct factual inaccuracies only and not to materially amend the research in any way. Goodbody Stockbrokers are satisfied that it has operational procedures in place which ensure that such disclosures will not compromise the report's objectivity.
Goodbody Stockbrokers and its associated companies may from time to time perform investment banking or corporate finance services including underwriting, managing or advising on a public offering for, or solicit business from any company recommended in this report.
Goodbody Stockbrokers may have acted, in the past 12 months, as lead manager / co-lead manager in the securities of any company covered by the Equities Research business unit.
Goodbody Stockbrokers acts as corporate broker to:
Aer Lingus, AIB, Datalex, Diageo, DCC, FBD, First Derivatives, Grafton Group, Greencore, Independent News & Media, Kingspan, NTR, Origin Enterprises, Paddy Power, United Drug and UTV Media.
Goodbody Stockbrokers is a registered market maker in the majority of companies listed on the Irish Stock Exchange and their equivalent on the London Stock Exchange and may hold positions in any of the companies mentioned in this report from time to time. A complete list of the companies that Goodbody Stockbrokers makes a market in is available at regulatorydisclosure
We would like to inform you that the Kingspan Analyst holds shares in Kingspan.
We would like to inform you that the AIB Analyst holds shares in AIB.
We would like to inform you that the PetroNeft Analyst holds shares in PetroNeft.
We would like to inform you that the Andor Technology Analyst holds shares in Andor Technology.
Other disclosures
A description of the companies that we provide research coverage on is available at company descriptions.
A summary of our standard valuation methods are available at valuationmethodologies
A summary of share price recommendations and whether material investment banking services have been provided to these companies is available at regulatory disclosures
Other important disclosures are available at regulatory disclosures
Goodbody Stockbrokers updates its recommendations on a regular basis. A breakdown of all recommendations provided by Goodbody Stockbrokers is available at regulatory disclosures. Where Goodbody Stockbroker’s have provided investment banking services to an issuer, details of the proportion of buys, adds, reduces and sells attributed to that issuer will also be included. This is updated on a quarterly basis.
The date on which stock recommendations were first released for all stocks mentioned in this report are available at regulatory disclosures. If a different recommendation has been made in the previous twelve months, this will also be disclosed here.
Please note that forecasts for the following companies are under review; AIB, Amarin, Balmoral Intl Land, Bank of Ireland, Clearstream Technologies, Donegal Creameries,Elan, Fyffes, Icon, Merrion Pharmaceuticals, Total Produce , Trinity Biotech.
In the event that a stock is delisted the firm will automatically cease coverage. If however the firm ceases to cover a stock for any other reason the firm will disclose this fact.
Disclaimer
While all reasonable care has been taken in the production and dissemination of this report it is not to be relied upon in substitution for the exercise of independent judgement. Nothing in this report constitutes investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate to your individual circumstances, or otherwise constitutes a personal recommendation to you.
Private customers having access, should not act upon it in anyway but should consult with their independent professional advisors. The price, value and income of certain investments may rise or may be subject to sudden and large falls in value. You may not recover the total amount originally invested. Past performance should not be taken as an indication or guarantee of future performance; neither should simulated performance. The value of securities maybe subject to exchange rate fluctuation that may have a positive or adverse effect on the price or income of such securities.
All material presented in this report, unless specifically indicated otherwise is copyright to Goodbody Stockbrokers. None of the material, nor its content, nor any copy of it, may be altered in any way, transmitted to, copied or distributed to any other party, without the prior express written permission of Goodbody Stockbrokers.