Best ER firms?

Based on the most helpful WSO content, here are some of the best equity research (ER) firms:

Top Bulge Bracket Firms for ER:

• J.P. Morgan (JPM): Known for consistently good research products, great corporate access, and strong industry knowledge.
• Morgan Stanley (MS): Highly regarded for its quality research and conferences.
• UBS: Offers great written research, including morning emails, earnings previews/recaps, and frequent updates.
• Barclays: Provides comprehensive coverage with strong analysts.
• Bank of America Merrill Lynch (BAML): Comparable to UBS and JPM in terms of research quality.

Top Middle Market (MM) Firms for ER:

• Cowen: Known for extensive research and top-rated conferences.
• Jefferies: Offers solid research and coverage.
• KeyBanc: Recognized for its niche expertise and decent coverage.
• Stifel: Praised for select analysts and quality research.
• Raymond James (Ray Jay): Provides good coverage and insights.

Specialized and Smaller Firms:

• Bernstein: Frequently mentioned as one of the best for high-quality research.
• Cleveland Research: Known for high-frequency updates and channel checks.
• Evercore ISI: Previously strong but noted to have declined slightly under Evercore.
• Vertical Research: Specializes in industrials/materials.
• Simmons (Piper): Strong in energy research.

Other Notable Mentions:

• Sanford Bernstein
• BMO
• Macquarie
• Robert Baird
• Guggenheim
• Cantor Fitzgerald

These firms are recognized for their quality of research, analyst expertise, and industry insights, making them stand out in the equity research space.

Sources: Security or Dream Job?, Buysiders - Who do you think is best in sell-side research?, Overview of the Equity research Industry