If you are still in school, check out your college's library. My school's library offers online access to research reports through the school's online portal or whatever.

looking for that pick-me-up to power through an all-nighter?
 

Just sign up for a brokerage account but don't deposit funds. You still have access to everything on there for a while. TD Ameritrade gives you reports from CS, S&P, and a few less well-known companies. Like LIBOR said check with your school, you may have access even if you already graduated.

 

You won't be able to find any online unless you somehow have access to themarkets.com or ThomsonOne. No firms give out their research for "free", at least not to the common man that is. You may be able to find some ER reports flow through to news articles (e.g., Barrons) since they're usually distributed to the media once published. But outside of that, you won't be able to get your hands on one unless you have a buddy at a sell-side firm or one who works on the buy-side that has access to them.

 

The Credit Suisse reports are ok. I actually like S&P reports the best, but as someone who has aspirations in ER I also would like to have reports from a major bank as a reference.

I wonder why CS provides reports to Ameritrade while the rest of the BB's don't. I'm sure they get a hefty fee, but it just sticks out to me that one BB would play in that market and the rest don't.

Is anybody a suscriber to Zack's? Their monthly fee is only $9.99 and they seem to have a solid rep with retail investors, from what I've heard.

 

CS appears with TD Ameritrade, and also with ETrade, if you have $100k placed with them.

BarCap reports appear with Fidelity.

ER is a sophisticated form of marketing. Banks can no longer really generate revenue from this department anymore; at least, not directly. However, the function is still necessary to support the S&T platform. By allowing people access to their reports, they building up brand recognition and goodwill - if they can't get revenue out of the department, then they can at least get something else.

To be honest, out of the ones you've mentioned, I actually find Ford Equity Research to be the most accurate. They keep it simple, and it's hard for their trends to go wrong. However, their formulaic approach is a bit too obvious (outdated information on certain companies). S&P reports tell you the most about the company, but I'm not convinced at all by their prescience. With Credit Suisse, I've noticed that the less they rely on formulas and the more confident they are with their analysts' insight, the better their calls tend to be.

The truth is you're the weak. And I'm the tyranny of evil men. But I'm tryin', Ringo. I'm tryin' real hard to be the shepherd.
 

If you sign up for a free Fidelity account you can access Credit Suisse reports. Other than that I've never been able to access reports outside of a database like Bloomberg or Thomson One.

"My dear, descended from the apes! Let us hope it is not true, but if it is, let us pray that it will not become generally known."
 

I am not really making a pitch. I am a freshman and I have been looking for an M&A summer internship in my home country (Scandinavia). I finally manage to convince an MD to interview me. He liked my story but he is not sure about my modelling skills. He asked me to create a detailed financial model (with scenario analysis), Merger Model & an lbo model.

After few people advised me on Apple in my previous post, I went through their annual report and I feel a bit comfortable working on them. So that's why, I picked Apple. Can you recommend me some other company which is not a household name but also fairly easy to value for a first timer?

 

I'm not sure if I would pitch Apple if the focus of the interview is on your modeling ability - it's very heavily covered (arguably one of the most watched companies in the world), and their massive amount of difficult-to-quantify brand equity might make some parts of the valuation a little bit more difficult. If you're projecting out earnings, for example, it would be very difficult to just fix a mature and steady rate of growth because it fluctuates very heavily (and others would argue that the smartphone market is becoming saturated and more competitive, etc.).

At the end of the day though, if you feel comfortable with Apple and their business model you should just go ahead and do it.

 
GibsonLA:
Unfortunately I don't have access to equity research reports and I could really use a few pulled for a firm that I have to look into. Can anyone pm me and help me out?
I'd help but I saw you're at USC. ND fan here. Not gonna happen pal.
 

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