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John Smith, CFA, analysed Alpha Company for a brokerage company. Extensive study had led John to rate Alpha Company as a sell, largely because of

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John Smith, CFA, analysed Alpha Company for a brokerage company. Extensive study had led John to rate Alpha Company as a "sell", largely because of increasing competition in the industry and low growth of Alpha company. However, after John played golf with Alpha's CEO and knew that Alpha Company would be a target firm for a merger, John changed his recommendation from "sell" to "buy". According to the CFA Institute Standards of Practice Handbook, did John violate the CFA Institute Standards of Professional Conduct? Why or why not

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