Читать книгу Investment Banking For Dummies - Matthew Krantz - Страница 92

Sell-side analysts are the line into the company for some investors. Sell-side analysts take the time to read the reports companies put out and listen into all the earnings conference calls, where the management teams discuss the performance of their company during the previous three months.

And for that reason, investors have some pretty high demands of their sell-side analysts, including the following:

 Research reports: The primary product from sell-side analysts is the research report. These reports (covered in more detail in the “Examining a Sample Research Report” section, later in this chapter) are where sell-side analysts spell out everything they know about the company and communicate their findings to investors.

 Instant updates: Following any big news from a company, investors expect sell-side analysts to be on top of the development. Instant updates are rapid dispatches from the sell-side analysts explaining what the takeaway from the new development is and whether it changes their opinion on the stock.

 Industry analysis: Although sell-side analysts primarily concern themselves with individual companies, most recognize the importance of industry factors. Many top sell-side analysts produce an industry analysis where they look at the larger forces at play in the industry and how they could affect companies within the industry.