Piper Jaffray Equity Research Analysts Rank Sixth in 2006 Wall Street Journal 'Best on the Street Survey'; Oakes recognized as
May 30 2006 - 12:55PM
PR Newswire (US)
MINNEAPOLIS, May 30 /PRNewswire-FirstCall/ -- Piper Jaffray is
pleased to announce that its equity research analysts ranked sixth
for their stock picking prowess among 72 firms highlighted in the
Wall Street Journal's annual "Best on the Street Analyst Survey."
The firms recognized in this year's survey were ranked according to
the total number of "Best on the Street" awards their analysts
earned. According to the Wall Street Journal, 213 analysts were
ranked this year, though award-winning analysts were selected from
a universe of more than 4,000 analysts at more than 280 firms. Of
that group, 1,707 analysts met the survey's eligibility tests and
qualified to have their research analyzed in detail. Piper Jaffray
Senior Research Analyst Peter Oakes received special recognition as
a repeat winner this year in the restaurant industry. Oakes has
been recognized in the "Best on the Street Analyst Survey" eight
times and is a member of the survey's Hall of Fame. He received a
No. 5 ranking in the restaurant industry in this year's survey.
Oakes has been covering restaurants at Piper Jaffray since 2003.
The following Piper Jaffray senior research analysts were
highlighted in this year's "Best on the Street Survey": -- Jeff
Klinefelter, Clothing & Accessories, ranked No. 2 -- Sean
Wieland, Software, ranked No. 3 -- Safa Rashtchy, Internet &
Computer Services, ranked No. 4 -- Neely Tamminga, Retailers: Broad
Line & Apparel, ranked No. 5 -- Thomas Wei, Biotechnology,
ranked No. 5 -- Peter Oakes, Restaurants, ranked No. 5 "This
ranking is a true testament of our research quality and our
dedication to provide clients with a proprietary and accurate
research product and analysis," said Joel Denney, head of
Investment Research at Piper Jaffray. "This is well-deserved
recognition for a very talented analyst group. Congratulations to
Jeff, Sean, Safa, Peter, Neely and Thomas." Compiling the "Best on
the Street" Survey According to the Wall Street Journal, analysts'
skill in picking stocks was measured using
recommendation-performance scores. These scores were calculated by
Thomson Financial on the basis of the estimated total return,
including price changes and dividends, of each eligible stock an
analyst covered in an industry. Total-return data were provided by
Thomson Datastream. Analysts got credit for being right about "buy"
and "sell" recommendations. For a stock rated a "buy," a positive
total return yielded a positive score on that stock, but a negative
return produced a negative score. Similarly, for a stock rated
"sell," a negative total return yielded a positive score while a
positive return resulted in a negative score. "Hold"
recommendations did not affect the score. The final performance
score also reflects such factors as the number of stocks in an
analyst's "portfolio." To be eligible, analysts must have been
based in the U.S. or Canada. Typically, they worked for the same
firm throughout 2005. Piper Jaffray & Co. is the chief
operating subsidiary of Piper Jaffray Companies (NYSE:PJC), a
focused securities firm dedicated to delivering superior financial
advice, investment products and transaction execution within
selected sectors of the financial services marketplace. The company
currently operates through two primary revenue-generating segments:
Capital Markets and Private Client Services. The sale of the
company's Private Client Services branch network, announced April
11, 2006, currently is pending. The company's Capital Markets
business generates revenue through two groups, Corporate and
Institutional Services and Public Finance Services. Through its
chief operating subsidiary, Piper Jaffray & Co., the firm has
served corporations, government and nonprofit entities,
institutional investors and the financial advisory needs of private
individuals since 1895. Piper Jaffray headquarters in Minneapolis
and has approximately 2,800 employees in 107 offices in 23 states
across the country and in London. For more information about Piper
Jaffray, visit us online at http://www.piperjaffray.com/ . Since
1895. Member SIPC and NYSE. DATASOURCE: Piper Jaffray & Co.
CONTACT: Susan Beatty, Media Relations, Piper Jaffray & Co.,
+1-612-303-5680 Web site: http://www.piperjaffray.com/
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