Standard & Poor’s Equity Research announced Friday that it is expanding its equity research by initiating coverage of stocks listed on the Toronto Stock Exchange (TSX).

In total, 300 equities will be covered, with 60 being given a STARS “Buy/Sell/Hold” recommendation, and another 240 receiving quantitative coverage.

S&P’s Equity Research currently covers approximately 2,000 equities in 120 industries in North America, Europe, and Asia. This additional service offering will be part of the research and analytics used by S&P Equity Research on a global basis to develop strategic investment outlooks and sector-level recommendations. This research is also the foundation of S&P Equity Research’s model portfolios, such as the S&P Global Picks, which represents the best thinking of the company’s analysts in the U.S., Europe and Asia.

“With the recent worldwide market uncertainty, this is a good time to expand our equity coverage by further leveraging our global equity staff,” says Stephen Biggar, director of global equity research at S&P, in New York. “With, in our view, the strong possibility of a U.S. recession, it’s important to provide the information and data that highlight more investment possibilities, particularly for markets that outperformed during the recent volatility, to help investors adjust their portfolios and outlook.”

Those companies being covered in a qualitative capacity will receive S&P’s STARS recommendations as a component of their stock report. S&P’s stock reports also include detailed financial information, such as sector and peer group analysis, and proprietary S&P metrics like fair value and quality rankings. The recommendation provided S&P equity research is representative of a given stock’s potential for performance over the coming 12 months.

“Canada is among the world’s largest stock markets, highlighting the opportunity cost for insufficient exposure to this increasingly relevant equity market. From a strategic standpoint, we recommend that investors examine the prospects in this region to see whether they can derive value and complement their existing holdings,” says Alec Young, international equity strategist for S&P Equity Research in New York.