| Ranking | Definition |
| INFORMATIONAL | It has been our practice to generate an informational company review when we initiate coverage. A "Buy" ranking could accompany a price target but these company reviews generally entail that additional information is needed to determine or clarify the companies approach to the growth opportunity. |
| BUY | Stocks ranked "Buy" are those stocks Scimitar recommend actively buying. These are stocks that are demonstrating their vision while meeting expectation and should appreciate at least 10% over the next 6 months. |
| HOLD | Stocks ranked "Hold" are those stocks Scimitar would continue to hold in a portfolio. These are stocks that are making progress strategically and operationally but are not expected to demonstrate significant appreciation in the next 6 months. |
| SELL | Stocks ranked "Sell" are those Scimitar would sell; these are stocks that appear not to be able to fulfill or deliver on their disclosed milestones and are expected to depreciate at least 10% over the next 6 months. |
TERMINATION
(of coverage) | In the event an analyst's coverage is terminated, there is a requirement that firms notify investors when coverage is dropped. This notice must include a final ranking or recommendation. The rule specifically calls for notice to be made in the same manner as in research coverage was first initiated. |
| |
INFORMATIONAL |
BUY |
HOLD |
SELL |
TERMINATION |
| Domestic |
21.5% |
57% |
21.5% |
% |
% |
| Global |
% |
% |
% |
% |
% |
Scimitar Equity, LLC (Scimitar) had an investment ranking on 20 equity securities in 2007. Scimitar uses 4 ratings- Informational, Buy, Hold, and Sell - reflecting expected stock price performance relative to our analyst's coverage universe with a 12-month time horizon.
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