Differences between Equity Research and
Independent Equity Research

Equity Research:

  • Performed by entities with financial interest in the stock (sell side or buy side analysts).
  • Equity researchers focus on analyzing stocks, following news, talking to the management and estimating stock valuations, mainly “on radar”, large size companies.
  • Equity researchers often don’t focus on new world companies (life science and technology “off radar”, mid-small cap. firms).
  • Opportunity exists for public mid-small R&D-intensive companies looking for investors’ attention (pump liquidity).

Independent Equity Research:

  • Performed by entities without financial interest in the stock.
  • A boutique service offered by only a few firms worldwide.
  • Provides an unbiased opinion.
  • No sell side analyst (i.e. marketing analyst) nor buy side analyst (mainly for in-house investment decisions).
  • Calculates the fair value of the share, publishes the current trading price.
  • The analysis does not constitute investment advice (sell/buy), and the service provider has no financial interest in securities they cover.
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