Hi all, I have a quick (and hopefully not too stupid question):
A lot of times in articles, it'll have a part similar to the excerpt below:
"Goldman Sachs analyst Matthew Fassler said in a note to clients that signs of strength in core Borders stores, some recovery in Europe and an aggressive stock buyback were leading him to raise his earnings estimates for 2005 through 2007."
What type of analyst is this referring to, and what type of client? Is this referring to ER / sell-side research? Or is this something that investment bankers do?
Thanks for the help!
ER
That's what I thought. Thanks. What type of clients purchase ER services? I've read a few things around this board about ER just being cock and bull reports where the accuracy of anything released publicly has to be weighted against potentially pissing off the researched companies, and thus, unreliable.
Yes, ER analysts. In case you don't know already, the ER hierarchy is not the same as IBD; research analysts rank above associates in ER for whatever reason.
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