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Our recommendation terminology provides clear and understandable direction to our clients.


The "recommendation terminology" applied by Cormark is:

Top Pick - our best investment ideas, the greatest potential value appreciation
Buy - expected to outperform its peer group
Market Perform - expected to perform with its peer group
Reduce - expected to underperform its peer group
Not Rated - These are stocks for which we are restricted from currently publishing, or our recommendation is under review

Additionally, our ratings may be followed by "(S)" which denotes that the investment is speculative and has a higher degree of risk associated with it.

Our target prices are based on a 12-month investment horizon.

Rating Distribution as of
Rating Number of Companies % of Total
Top Pick
Market Perform
Not Rated
Jeff Fenwick, M.Phil, MBA
Managing Director,
Head of Institutional Equity Research
Direct: (416) 943-6739
Contact >

Meny Grauman, CFA
Managing Director,
Head of Institutional Equity Research
Direct: (416) 943-6435
Contact >
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