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Learn/Equity research foundations

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Learn Equity research foundations

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B Basic

What an equity research analyst does7m
Reading a 10-K and a 10-QPro9m
Building an earnings modelPro10m
Consensus and your estimatePro8m

A Advanced

Price targets and ratingsPro10m
The initiation and the earnings notePro8m
The research stock pitchPro10m

FlashcardsPro0/21
Basic quizPro80% passes
Advanced quizPro80% passes
Terms

Equity research foundations

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Flashcards Start the first lesson

What a research analyst actually produces: a model that forecasts earnings, a view against consensus, a price target, and the notes that sell it to investors.

BBasic4 lessons

1What an equity research analyst doesA research analyst covers a list of stocks in one sector, forecasts their earnings, and tells investors what to buy and sell. The product is the opinion and the reasoning behind it.7 min
2Reading a 10-K and a 10-QProThe filings are where the facts live. An analyst reads them for the segment numbers, the footnotes, and the gap between what management says and what the numbers show.9 min
3Building an earnings modelProAn earnings model forecasts revenue from the drivers that actually move it, runs down to EPS, and gets updated every quarter. The drivers are where your view lives.10 min
4Consensus and your estimateProStocks move on the gap between results and expectations, not on results alone. Consensus is the expectation; your edge is a well argued number that differs from it.8 min
Basic quizPro10 questions, 80% passes

AAdvanced3 lessons

5Price targets and ratingsProA price target is your estimate of the stock's value in about twelve months. The rating follows from the gap between the target and today's price.10 min
6The initiation and the earnings noteProResearch is sold in writing. The initiation is the long first report on a company; the earnings note is the short one every quarter. Both lead with the conclusion.8 min
7The research stock pitchProA research pitch is a rating, a target, two or three reasons the market is wrong, the catalysts that will prove it, and the risks. Two minutes, then the pushback.10 min
Advanced quizPro10 questions, 80% passes