I can’t remember where I read this but consensus analysts’ forward earnings expectations for any company are always too optimistic. This was a published bit of research, I believe
My take home from this, was that they may be helpful in direction but not in magnitude.
Broker reports were touched upon in the BabyGiants podcast today as part of a broader discussion of where to get unbiased company research from. It wasn’t pretty
i believe Claude is putting together an article on the subject which should be a useful reference.