Am wondering what sites do you refer to/trust to get "Market Consensus" or "Market Expectations" across brokerage analysts for a given company?
I have consciously avoided looking for/at analyst reports to force myself to come up with my own assessment of a company. But in working through valuations, I see the value (pun intended!) in getting a sense of what the "market" is thinking in terms of forward earnings/PR ratio's etc.
Am looking for an "unbiased" market consensus site (if such a site exists!) that I can rely and subscribe to, so that I sanity check my valuation assumptions as well as get a sense of what the market is/was expecting before and after an earnings announcement.
Any inputs would be much appreciated!
@jcmleng I agree that it is always important to have your own view on valuation, as there can be a whole bunch of issues with analyst and broker reports, which I think we have discussed here a lot over the years.
Therefore, I don't trust anyone! If I lose a bunch of money, I only have myself to blame!
But I do use them to "triangulate" my own analysis. And, more importantly, I look at how the forecasts change in the light of new information.
I use two sources, which have different, but often overlapping sources of analyst reports;
www.marketscreener.com (paid subscription version)
www.tradingview.com (free version).
I have found that these nicely meet my needs. The advantage of the marketscreener.com product is that it provides a really neat graphic to show how the analysts views have evolved over time. So, taking as an example from another discussion today, here's the $WTC example.
In the upper graphic, you can see how the average of analyst price targets has evolved with the share price. (Note, price targets are usually an indication of the expected value in 12 months.)
The lower graphic, then shows this average of the price targets together with the dispersion (min-max) around it.
I use Tikr but I now (recently) have access to TipRanks through CMC Markets that names brokers and enables you to filter the analyst (the score is on their track record).
For example WTC below:
FNArena (https://fnarena.com/) is also worth a look @jcmleng if you want summaries of broker reports and notes, but as with all the providers of this type of info, it's only as good as the brokers they cover - FNArena covers the main ones in Australia - I think it was 10 or 11 of them when I last checked. It's a paysite, so only worth the annual subscription cost if you want that level of detail, i.e. more than just those brokers' buy/sell calls and their target price.
Example - CSL:
Here's a brief overview of the sort of stuff that FNArena provides. These are samples only - it's not exhaustive. Scroll through the historicals to get to the broker and analyst data below:
There's more, but that provides an idea of the sort of broker summaries that FNArena provide.
I am a current subscriber but I often let my subscription expire and then renew later when I become more interested in some larger cap companies, because for a lot of the smaller companies that I'm usually more interested in, the brokers that FNArena cover don't cover those smaller companies so for instance Argonaut and EH (Euroz Hartleys) are two brokers that FNArena do NOT cover.