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Concept
Securities research
Summary
Securities research is a discipline within the financial services industry. Securities research professionals are known most generally as "analysts", "research analysts", or "securities analysts"; all the foregoing terms are synonymous. Research analysts produce research reports and typically issue a recommendation: buy ("overweight"), hold, or sell ("underweight"); see target price and trade idea.
These reports can be accessed from a number of sources, and brokerages will often offer the reports free to their customers. Research can be categorized by the security type, as well as by whether it is buy-side research or sell-side research; analysts further focus on particular industries. Although usually associated with fundamental analysis, research also focuses on technical analysis, and reports will often include both.
See also .
Securities analysts are commonly divided between the two basic kinds of securities: equity analysts (researching stocks and their issuers) and fixed income analysts (researching bond issuers); there are various other financial instruments. There are some analysts who cover all of the securities of a particular issuer, stocks and bonds alike.
Securities analysts are usually further subdivided by industry specialization (or sectors)—among the industries with the most analyst coverage are biotechnology, financial services, energy, and computer hardware, software and services. Analysts will regularly attend quarterly earnings conference calls; see also earnings guidance.
Fixed-income analysts are also often subdivided by asset class—among the fixed income asset classes with the most analyst coverage are convertible bonds, high yield bonds (see high-yield debt), and distressed bonds (see distressed securities). Although technically not securities, syndicated bank loans typically fall within the domain of fixed income analysts, and are covered, as if they were bonds, by reference to the industry of their borrowers or asset class in which their credit quality would place them.
See .
Official source
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