Sell side research written and modeling test
Have a modeling and written test for middle mkt sell side research on Monday. They said it would be 3 hours was hoping someone had any clarity on what to expect and how to best prepare. Any help would be appreciated.
I'd expect a simple P&L the derives an EPS. Remember to use adjusted figures to calculate Adj EBITDA and Adj EPS. This should take you ~1.5 hours. The rest is reading past couple transcripts to derive a simple thesis. First paragraph recaps earnings and key figures, second and third paragraph talks about what mgmt said on the call and what the Q&A was focusing on. Last paragraph should be a reiterate of whether you believe the stock is a outperform (buy), underperform (sell), or a equal weight (hold).
What sector is the seat for? You could try to do some scouting to see any public comments on the space or the name itself.
Thanks for the clarity. It’s for internet. Any suggestions on how to practice and stuff with adjusted figures
Companies provide adjusted figures towards the end of their press release. Look at a couple names in the sector to try and understand what's included in the Adj EBITDA line and what isnt. My best guess is SBC is a big factor in getting to adjusted figures.
Got it thanks
Any tips on places I could find a model to practice on that would be helpful?
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