: On average, recommendations do not impose significant "abnormal returns" during the event window, suggesting markets are relatively efficient.
: Both ratings and earnings forecasts contain incremental value and are often more accurate than management's own forecasts. Understanding Rating Distributions stock buy sell ratings
: Buy-side "buy" recommendations often result in lower annual market-adjusted returns (2.3%) compared to sell-side ratings (8.2%), though these differences are partly due to the types of firms covered. : On average, recommendations do not impose significant
: An event study of 313 recommendations issued between 2018–2020 on the OMXS30. : On average