Taro Sato, CFA, an analyst, recently finished his report on Accel Automotive, a small electric car manufacturer operating one factory. For the last three months, Sato has counted the number of vehicles shipped from Accel's factory every Friday. From these observations, he forms an opinion on estimated total shipments for the last quarter. Sato limits the scope of his report by omitting details not relevant to production activity. He concludes in his report: "Based on the fact the company shipped 50,000 vehicles last quarter, I recommend a strong BUY."

Did Sato violate the Standard relating to communication with clients and prospective clients?