Ethical Decision-Making in Investment Analysis

John, a portfolio manager at a registered investment advisory firm, is conducting an analysis on a potential new investment in a technology start-up. During his research, he discovers that one of his close friends is the CEO of the start-up. John believes in the business model of the start-up and that it could offer substantial returns to clients. However, he acknowledges that his friendship may bias his analysis. As he prepares to present his findings to his firm's investment committee, John is faced with a decision about how to proceed.

Discuss the ethical considerations John should weigh regarding his potential investment recommendation. What steps should he take to ensure his investment analysis is objective and in compliance with the CFA Institute's Code of Ethics and Standards of Professional Conduct?