Goldman Sachs Implements New Stock Rating System.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 4, 2002 The Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. Group, Inc. (NYSE NYSE See: New York Stock Exchange : GS) announced today that it has launched its new global stock rating system. Goldman Sachs Global Investment Research now has three ratings, Outperform Outperform An analyst recommendation meaning a stock is expected to do slightly better than the market return. Notes: Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy. , In-Line, and Underperform Underperform An analyst recommendation that means a stock is expected to do slightly worse than the market return. Also known as market underperform, moderate sell, or weak hold. , which are assigned relative to the stocks within each analyst's stock coverage universe. Each analyst also has published a coverage view - Attractive, Neutral, or Cautious -- which represents their overall fundamental outlook on their coverage group of stocks. In addition, Goldman Sachs Investment Research has introduced a Current Investment List (CIL (Common Intermediate Language) The ECMA version of the Microsoft Intermediate Language (MSIL). See CLI. 1. (project) CIL - Component Integration Laboratories. 2. (language) CIL - Common Intermediate Language. ) designation that highlights its analysts' best stock recommendations for absolute total return over a 12-month period. At the outset of the new stock rating system, of the 1,874 equity securities Goldman Sachs Investment Research covers globally, the ratings distribution is 26% Outperform, 52% In-Line, and 22% Underperform. In the Americas, 24% equity securities are rated Outperform, 55% In-Line, and 21% Underperform. In Europe, 31% equity securities are rated Outperform, 44% In-Line, and 25% Underperform. In the Asia-Pacific region, 25% equity securities are rated Outperform, 56% In-Line, and 19% Underperform, and in Japan, 24% equity securities are rated Outperform, 59% In-Line, and 17% Underperform. The distribution percentages exclude equity securities covered by Goldman Sachs research analysts that are currently not rated or whose rating or coverage has been suspended. Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and maintains offices in London, Frankfurt, Tokyo, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and other major financial centers around the world. |
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