Читать книгу Investment Banking For Dummies - Matthew Krantz - Страница 96

Research reports don’t have to follow a specific formula. Analysts at different investment banks have some latitude in determining the look and feel of their reports. But more often than not, research reports follow a certain protocol of what investors expect them to look like.

Many of the research reports from major research organizations follow somewhat of a pattern that contain key elements, making them easy for investors to find information they need. Figure 3-1 is a reprint of the first page of a research report from CFRA.

Courtesy of S&P Capital IQ

FIGURE 3-1: A page of a research report from CFRA.

To be clear, CFRA is not an investment bank, but a well-known and independent provider of stock research. What CFRA provides is technically independent equity research, not sell-side research, because the company doesn’t do any investment banking. Still the format of CFRA’s reports adhere to industry standards and are illustrative for that reason.